Bankless Bitcoin's 2024 Revolution: L2s & Beyond | Eric Wall
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May 8, 2024 In this discussion, Bitcoin builder and researcher Eric Wall shares his deep insights into Bitcoin's scaling solutions and layer-two technologies. He explains the evolution of Bitcoin and its inevitable move towards L2 solutions like BitVM. Eric breaks down the intricacies of sovereign roll-ups, comparing them to the complexities of BRC20 tokens. He highlights emerging trends like NFT trading on Bitcoin and the importance of continuous innovation. With humor and expertise, Eric navigates the challenges and future directions of Bitcoin technology.
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ZK Rollups on Bitcoin
- Bitcoin could achieve 40-50x scalability with a ZK verifier and Covenants opcode.
- ZK rollups offer scalability, privacy, and expressiveness, but Bitcoin needs the right ZKP verifier.
Bitcoin L2s Launching Despite Hurdles
- Despite the technical hurdles, Bitcoin L2s are attracting VC funding and users.
- One Bitcoin L2 even launched recently, highlighting the growing narrative.
Bitcoin NFT Trading
- Bitcoin NFTs are traded on-chain using pre-signed Bitcoin transactions, enabling atomic swaps.
- This contrasts with traditional sidechains and offers a more decentralized trading experience.