BEVM Unveils Taproot Consensus: Boosting Bitcoin’s Layer 2 with Ethereum Compatibility and Enhanced Security
May 26, 2024BEVM has introduced Taproot Consensus, a decentralized Bitcoin Layer 2 solution compatible with Ethereum.
The technical yellow paper outlines the use of native Bitcoin technologies such as MAST, Schnorr signatures, and Bitcoin SPV nodes.
Validators hold BTC private keys for Schnorr signatures, ensuring network trustworthiness.
The architecture includes components like Bitcoin SPV, Schnorr+MAST, and AURA+Grandpa for enhanced security and decentralization.
Taproot Consensus aims to enable Ethereum DApps to run on the Bitcoin network using BTC as gas, without modifying Layer 1.
This advancement offers increased scalability, security, and compatibility with Ethereum tools, distinguishing it from other Layer 2 projects like Mezo.
Users can find more information on BEVM's official website or Twitter.
Summary based on 8 sources
Get a daily email with more Crypto stories
Sources
Cointelegraph • May 26, 2024
BEVM unveils groundbreaking Taproot Consensus for decentralized Bitcoin Layer 2 solutionInvesting.com • May 26, 2024
BEVM Unveils Groundbreaking Taproot Consensus for Decentralized Bitcoin Layer 2 SolutionGrit Daily News • May 26, 2024
BEVM Unveils Groundbreaking Taproot Consensus for Decentralized Bitcoin Layer 2 Solution - Grit Daily News