Author: Blue Fox Notes

Seeing ZKM also entering the BTC L2 track, this track will become increasingly crowded, just like the Ethereum L2, and the final market pattern still needs to wait for the results of technological and market evolution.

The underlying technology of ZKM is zkVM, and its ultimate goal is to try to make its zkVM technology adopted by more projects and ecosystems, thus becoming the underlying infrastructure. For example, it can connect assets from different ecosystem networks (such as Ethereum, Bitcoin, Comos, etc.) to form better liquidity. Within this framework, we can better understand why ZKM wants to enter the BTC L2 track.

Returning to the technical solution, the core technology of ZKM mainly focuses on two aspects: "Entangled Rollup architecture + zkVM". These two aspects mainly address two major concerns in the market: first, how to ensure the security of assets; second, how to achieve the sustainability of its own network.

Currently, the market is very concerned about the security of cross-chain transactions. ZKM has introduced the "Entangled Rollup Network" mechanism, attempting to synchronize the state between blockchains through recursive zero-knowledge proof technology, without relying on traditional bridge mechanisms to achieve cross-chain asset transfers. This framework was previously implemented on Ethereum, known as the Optimistic Rollup mechanism of Metis. Currently, ZKM is attempting to apply this approach and framework, while modifying it according to the characteristics of Bitcoin L1, in order to introduce its BTC L2. Of course, since BTC does not support smart contracts, the challenge of implementing L2 is much greater. ZKM attempts to aggregate the state to the ZKM network through Entangled Rollup, and then pass the verified state to other ecosystems. The security of BTC assets is achieved through a locally controllable mode, such as BTC being controlled by multi-signature scripts, so that as long as there is at least one honest party, malicious actors cannot take away the staked BTC. In terms of L2, a decentralized sequencer is used, and the inclusion and finality of transactions are completed in a decentralized manner. The execution of L2 transaction batches is also planned to be verified through BTC scripts.

ZKM introduces the OCP mechanism (Optimistic Challenge Process), which is somewhat similar to the optimistic proof mechanism of Ethereum L2 but for BTC L2. The general mechanism is that when users deposit assets into L2 (ZKM), the assets will be locked in a pre-signed n-of-n multi-signature script, and the signers are generally independent third parties/auditors. The redemption script of the multi-signature is activated after a specified challenge period, and the signers send the assets to the target user in advance, initiating the challenge phase. During the challenge phase, signers pre-sign transactions containing challenge scripts and asset scripts. To initiate the challenge script, a payment input UTXO is used to start the challenge, requiring the operator to attempt to open its commitment by providing intermediate calculation tracking to the asset script. If the commitment cannot be successfully opened, the validator will receive all assets after the challenge period ends, or transfer the challenged assets to the signers. The execution tracking is submitted through TapTree, where each leaf of the tree represents an intermediate value. Each intermediate value is calculated using one-time signature calculation, with the previous value as its input. Using this method, BTC scripts directly execute this calculation and complete on-chain asset verification. In other words, ZKM attempts to provide security for off-chain calculations through the OCP mechanism, ensuring that L2 transactions are included in a decentralized sequencer network.

zkVM has always been one of the important basic explorations in the field of cryptography, and ZKM's zkVM is one type of it. One of the differences between ZKM and RSIC and SP1 is that ZKM provides native support for Golang. (RSIC and SP1 support Rust) ZKM allows Golang developers to compile their code into MIPS instructions using the Vanilla Golang compiler and then use ZKM's proof network to prove its execution. At the same time, ZKM also plans to support Rust in the future.

In addition to focusing on the security of BTC on-chain assets, the market is also concerned about how ZKM L2 itself achieves sustainability. In order to achieve sustainability, all participants in the network need to have the opportunity to earn continuous income. In ZKM's BTC L2, the concept of decentralized sequencers is introduced, and these sequencer nodes receive rewards based on their contributions. ZKM plans to allocate 40% of its tokens as rewards to mining participants (including participants in sequencer nodes, liquidity staking, and proof network mining). In other words, in addition to earning gas fees from L2 transactions, sequencer nodes can also earn income from mining.

According to the current trend, exploration in the BTC L2 area will continue, both in terms of native L2 and EVM-compatible L2. Native L2 exploration is due to the exploration of internal ecosystem tension, as it has a large number of loyal supporters due to its nativeness. As for EVM-compatible L2, it not only expands the BTC ecosystem but also provides an exploration direction for the integration of more ecosystems.

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