Chainfeeds Introduction:
There are two main ways to apply Bitcoin: transfer Bitcoin to other chains through bridges, or create L2 on the Bitcoin network to support Bitcoin applications. In order to enhance application scenarios and scalability, L2 may make certain security trade-offs. This article will explore several different types of cross-chain bridges and L2 solutions.
Source:
https://www.decentralised.co/p/layered-bitcoin
Article author:
Saurabh
Viewpoint:
Saurabh: Cross-chain bridges 1) Trustless bridges This type of bridge relies on Bitcoin to verify the proof submitted by the external chain, which is currently difficult to implement on Bitcoin. 2) Trust-minimised bridges relying on economic security This type of bridge relies on multiple public parties to process the transfer of BTC in and out, ensuring a certain degree of decentralization and security. Typical examples include Threshold Network's tBTC. The network protects users' BTC through a randomly selected group of operators and mints synthetic tokens of equal value on other chains. 3) Custodial Bridges This design controls users' BTC by centralized providers, such as BitGo's WBTC, which is widely used but has a high risk of centralization. 4) Early versions of BitVM have problems with liquidity management, and operators need to maintain a large amount of funds in reserve to cope with withdrawals. Extension scheme and execution layer 1) Babylon has achieved innovative applications of BTC pledge through a remote pledge mechanism, but its complex mechanism may limit its large-scale application. 2) BOB will be launched in four stages: OP stack aggregation; Ethereum and Bitcoin security combination; optimistic Bitcoin aggregation through BitVM; Zk Rollup on Bitcoin. But the final implementation depends on the modification of the Bitcoin protocol. 3) Botanix "Spider Chain" provides a dynamic multi-signature protection mechanism that solves the bridge security problem, but the inscription release it relies on still needs further verification of its feasibility. 4) CitreaZK Rollup solution demonstrates the potential of Bitcoin as a data availability layer in the future, but the current BitVM implementation needs to be improved. 5) Mezo's end-to-end BitcoinFi experience and dual staking model provide innovative economic incentive mechanisms that may attract more users and developers. 6) Stacks smart contracts and sidechain technology bring new possibilities to the Bitcoin ecosystem, combining Ethereum's smart contract functionality with Bitcoin's security. [Original text in English]
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