BitcoinOS and B² Network are teaming up to secure $110 million in Bitcoin DeFi assets by the end of 2024. This collaboration will involve integrating the Grail bridge with B² Network’s mainnet, allowing for trustless bridging of BTC and Bitcoin assets using zero-knowledge proofs.
The partnership aims to enhance Bitcoin’s scalability and DeFi security by leveraging the ZK-based BitSNARK verification protocol. B² Network, known for its EVM compatibility and faster transaction speeds than Bitcoin’s Layer 1, will benefit from BOS’s capabilities in providing institutional-grade asset security at Bitcoin’s scaling and application layer.
Edan Yago, CEO and Co-founder of BOS, highlighted that this partnership reflects the industry’s recognition of their efforts to strengthen the Bitcoin ecosystem. By enabling developers to build various applications on Bitcoin, including true Layer 2 solutions and trustless bridges, they are paving the way for innovation in the space.
Arwen, Chief Ecosystem Officer of B² Network, emphasized that BitcoinOS’s technology will help them securely scale Bitcoin without compromising its security. This partnership will allow institutions and liquidity providers to confidently deploy BTC to DeFi platforms, driving further adoption and growth in the ecosystem.
The integration between BOS and B² Network will provide enhanced security and efficiency in cross-chain transactions, benefiting not only Bitcoin-based DeFi but also other ecosystems like Aptos. B² Network’s ZK-Rollup technology with zkEVM allows for user transactions within the Layer 2 network, making it over 50 times cheaper and 300 times faster than Bitcoin’s Layer 1.
B² Network’s mission is to transform Bitcoin into a versatile platform supporting various applications, from DeFi to NFTs, while reviving the builder culture in the Bitcoin ecosystem. BitcoinOS, on the other hand, is an operating system that adds smart contract functionality to Bitcoin, unlocking its potential for high-throughput, secure, and programmable transactions while maintaining decentralization and resilience.
Overall, the partnership between BitcoinOS and B² Network is a significant step towards enhancing Bitcoin’s scalability, security, and usability in the DeFi space. By integrating innovative technologies and fostering collaboration, they are driving forward the evolution of the Bitcoin ecosystem and paving the way for new possibilities in decentralized finance.