The Layer-2 Bob network launched its testnet before the Mainnet in difficulty in the fourth quarter of this year.
Describing itself as a hybrid layer 2, Bob’s objective is to combine safety and Bitcoin reserves with Ethereum programmability using the IT paradigm to create a decentralized finance (Challenge) hub.
BITVM was introduced at the end of 2023 by Robin Linus as a means of activating Rollups at the top of Bitcoin, thus allowing faster and cheaper transactions without compromising network safety.
Bob’s Bridge operates Bitvm to allow BTC to be transferred to the roller and bring it back later so that it can be removed.
At the heart of Bob’s ethics, he will use the real BTC rather than an enveloped version of the active as fuel for the DEFI services. Some projects use a form of bitcoin wrapped in order to bring the value of BTC to their ecosystem for use in DEFI applications, such as batteries with its SBTC token.
“Just like ETH remains’ Eth ” on Ethereum Rollups like Optimism and Arbitrum, BTC on Bob remains indigenous and simply called” BTC “,” said Bob in a shared ad with Coindesk on Wednesday.
Rollups such as Arbitrum Bundles transactions, which then register on Ethereum cheap, using fraud tests to ensure their accuracy. Bob says that does something that looks like this about Bitcoin.
The co-founder Alexei Zamyatin described this as a “clear distinction”, between his offer and his versions wrapped in BTC, in a telegram message in Coindesk.
The Testnet begins with the support of a multitude of large cryptography companies that will operate the nodes on the BITVM bridge, such as the P2P.org and Lombard stall developers, the SOLV protocol of the DEFI platform, the Capital Rockawayx venture group and the digital active manager Amber Group.
