Content Editor: Yao Erling

Content Organizer: Yao Erling

Previous News

The on-chain IP protocol Story Protocol will launch its first hackathon v1.0 Buildathon on May 9th, which will last until May 26th, including three tracks: creator tools, AI, and DeFi.

EigenLayer is set to start token distribution on May 10th. In the first season, 5% of the token supply will be distributed to users based on the snapshot of the staking activity on March 15, 2024. After a simple Sybil filter, all Season 1 users will receive at least 110 EIGEN tokens (10 EIGEN as the floor plus 100 EIGEN).

The second phase project UpRock of Jupiter LFG Launchpad is scheduled to start reputation proof and TGE event on May 12th. The future roadmap includes launching a scoring system on May 5th, adjusting the fixed monthly supply on May 7th, and opening GEO Coverage on May 9th.

ZKM announced the launch of innovative technology based on zkVM and decentralized sequencers to expand the Bitcoin L2, providing security for BTC native assets and a sustainable model for all BTC holders and ecosystem participants to benefit from.

1. Introduction to ZKM Project

ZKM is a zero-knowledge proof-based network aimed at unifying blockchains and creating a settlement layer on Ethereum. The project aims to provide faster and more convenient fund withdrawals, establish a standardized security framework for cross-L2 and Alt L1 platforms, and enhance the security and integrity of IoT devices and cloud computing systems.

ZKM announced the launch of innovative technology based on zkVM and decentralized sequencers to expand the Bitcoin L2, providing security for BTC native assets and a sustainable model for all BTC holders and ecosystem participants to benefit from.

ZKM is a network based on zero-knowledge proof, and it also hopes to develop a 2-layer protocol project based on the Bitcoin ecosystem through the zk protocol, adding diversified functionality to the project itself.

Detailed introduction of ZKM article: The zero-knowledge protocol project ZKM is called the "Metis sub-project."

Newly Launched Bitcoin 2-Layer Protocol Solution by ZKM

ZKM's Bitcoin L2 security framework consists of native BTC multisig script control and decentralized transaction execution, introducing an "optimistic challenge process" to ensure off-chain computation.

It is supported by the entire entangled aggregation framework, including our general ZKVM and decentralized sequencers, which not only ensure local security but also provide sustainable returns without locking assets.

Unlike many short-term revenue models, ZKM Bitcoin L2 focuses on long-term, sustainable sources of income. Native BTC holders can protect the decentralized sequencer network to earn gas income and benefit from a dedicated mining pool composed of 40% of the future token supply of ZKM, ensuring continuous returns and potential MEV opportunities.

Users of ZKM Bitcoin L2 will also benefit from the broader functionality of our Entangled Rollup network, which natively unifies decentralized liquidity across blockchains and enables smooth transfer of inter-chain value without relying on inconvenient and potentially insecure third-party bridges.

This infrastructure creates a truly interconnected blockchain environment, eliminating the main barriers to wider adoption of Bitcoin-based technology.

Multi-Chain Interoperability without Bridges: Entangled Rollup Network

Interoperability in blockchains is usually achieved using trusted bridges, which are separate centralized or partially decentralized intermediaries used to verify and transmit cross-chain messages.

Entangled Rollup is an architectural design where connections between two independent blockchains can be established through interactions between their corresponding Layer 2s. These interactions synchronize state changes between networks, enabling seamless exchange of information and value.

The Entangled Rollup protocol is trustless and, in addition to simplifying user and developer experiences (a major adoption barrier in a multi-chain world), it takes a step forward in addressing liquidity fragmentation.

In simple terms, the Entangled Rollup Network can enable Ethereum to eventually become an interoperable network for a universal settlement layer, similar to Cosmos' IBC relay network, enabling cross-chain asset migration and communication capabilities in a complex chain environment.

Because it can indeed achieve "trust" between heterogeneous chains through a modularized execution layer design based on zkVM. From a more vertically focused perspective, we can also view the Entangled Rollup Network as simply providing BTC main chain native asset migration capabilities for BTC layer 2.

The Entangled Rollup Network enables secure cross-chain asset transfers and migrations through a set of trusted and secure Peg-in and Peg-out mechanisms.

The technical concept and the native RGB protocol rely on publishing state commitments to the mainnet and locking assets through subsequent state commitment unlocks. The difference lies in RGB being based on a decentralized client P2P network, while the Entangled Rollup Network requires a set of pledged and zkVM-based trust-building relay networks.

The Entangled Rollup Network defines the challenge mechanism as OCP (Optimism Challenge Process). Any user or node can initiate a challenge to the mainnet script lock based on the transaction data state fragments of the Layer 2 network at any time. If the Layer 2 data is inconsistent with the mainnet commitment, the challenge is successful, and the assets pledged on the mainnet by the node will be confiscated. This ensures that the decentralized sequencer does not engage in subjective malfeasance.

How is ZKM's Bitcoin Layer 2 Different

Why did ZKM suddenly announce its entry into the Bitcoin track? In fact, when ZKM initially positioned its product, it was as a Layer 2 expansion network. Currently, many projects, including Layer 2 projects in the Ethereum ecosystem, are also releasing their own solutions for the Bitcoin Layer 2. Of course, ZKM has also introduced its unique solution for the Bitcoin ecosystem.

There are already over 100 BTC L2s launched or about to be launched. The Entangled Rollup framework and zkVM-level support for BTC L2 enable ZKM to provide native security and sustainable returns as key features of this network.

Security Assurance

The security assurance of BTC L2 can be determined by two factors. First, assets on L1 should be controlled by native BTC multisig scripts, and any dishonest behavior will be prevented from unlocking or depositing assets as long as at least one honest party is active. Second, the inclusion and final confirmation of L2 transactions can inherit the security standards of BTC, indicating that the sequencer should be decentralized, and the execution of L2 transaction batches can be verified by BTC scripts.

ZKM introduces the Optimism Challenge Process (OCP) mechanism to meet these security requirements. When a user's assets are deposited into L2, they are locked into a pre-signed n-of-n multisig script, where signers can be any authorized and neutral third party or auditor. Then, the multisig redemption script should be activated after a specified challenge period. The signers then send the assets to the target user in advance.

Sustainable Yield

Most Bitcoin holders seek sustainable and stable income rather than short-term rewards or airdrops. For ZKM BTC L2, introducing decentralized sequencers in the framework to batch process L2 transactions provides inherent native security, so it is natural for these sequencer nodes (with BTC whitelists) to be rewarded for their contributions.

ZKM reserves 40% of its lifecycle token supply for the mining pool, specifically for sequencer node mining, liquidity staking mining, and proof-of-network mining. This ensures that sequencer nodes can earn continuous and sustainable income from the pool in addition to earning gas income from each batch they process. Sequencer nodes also have potential MEV opportunities as they are the fastest entities processing L2 batch transactions. Therefore, the income and benefits of ZKM BTC L2 belong to every participant in the network, whether they are node operators, equity holders, or users. Additionally, BTC L1 miners will also benefit from additional L2 transactions submitted to L1.

Conclusion

ZKM's unique solution in the Bitcoin Layer 2 field brings a different perspective to Bitcoin. It combines multisig scripts and the Optimism Challenge Process mechanism to ensure high security, while improving transaction efficiency by introducing decentralized sequencers. More notably, ZKM focuses not only on short-term returns but on long-term sustainable income sources, paving a new path for the development of the Bitcoin ecosystem through its unique revenue model and the combination with the Entangled Rollup network. In summary, ZKM demonstrates unlimited potential and is poised to become a leader in the Bitcoin Layer 2 field in the future.

At the same time, as another project of the founder of Metis, ZKM is a Layer 2 product developed specifically for the Bitcoin network. Metis' marketing capabilities in the current market, combined with the design and product strength of the ZKM product, make it one of the most noteworthy projects, with a very large audience.

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