Most of the 1.3 trillion market value of Bitcoin cannot generate direct benefits, and there are opportunities that need to be explored. The TVL of ETH L2 exceeds 10% of the market value of Ethereum, which also indicates the huge market space of BTC L2! BsquaredNetwork, which I will introduce today, uses ZK as its core technology, has strong partners and financing background, and is expected to become one of the most feasible Bitcoin L2 solutions. In the near future, there will be B²Hive and B²Buzz activities to get rewards!
The original intention of Bitcoin design was to maximize security and decentralization, but it sacrificed scalability and could not execute smart contracts. As the user base expands, the problems of Bitcoin network congestion, transaction delays and surge in transaction fees are difficult to solve. In addition, the economic benefits of miners have decreased after the halving, and the Bitcoin network urgently needs ecological empowerment and rich on-chain activities to maintain the stability of the number of miners and network security, which has also given rise to a huge demand for BTC L2.
B² Network is a leading Layer 2 project on BTC. It is an EVM-compatible ZK Rollup. Rollup data and ZK proof verification commitments are recorded on the BTC network and ultimately confirmed through a challenge-response mechanism. The project adopts a modular design architecture, including the Rollup layer and the Data Availability (DA) layer, namely the B² Hub. The rollup layer is responsible for submitting and processing user transactions, and the DA layer is responsible for storing copies of aggregated data and verifying aggregated zk proofs.
B²'s Rollup needs to pass the B² Hub for state transition verification and data availability storage verification, and submit it to the Bitcoin network after generating a commitment. Therefore, the security and decentralization of the B² Hub are very important. B² Network chose the PoS mechanism to protect the B² Hub. In order to ensure the security of the consensus mechanism, BTC Stak was also introduced. In addition, developers are developing LSD/LRT projects based on B² PoS to release liquidity and achieve integration with other DApps.
The advantages of B² Network include the following:
① Designed B² Hub to uniformly submit data availability proof and state transition proof to the Bitcoin network without affecting the proof operation of Bitcoin itself, preventing Bitcoin from being adversely affected by Layer 2 expansion
② Provide an off-chain trading platform that supports Turing-complete smart contracts to improve transaction efficiency and reduce costs
③Ensure enhanced privacy and security of transactions through zero-knowledge proof technology
Ecological aspects:
B² Network's partners are all leading projects, and it is constantly expanding its ecosystem. It uses Babylon's staking and timestamp protocols to ensure security and effectively avoid remote attacks. It also recently announced a partnership with Polygon Labs to create the first BTC use case that integrates Polygon CDK, which means that in the future, developers can choose the "Polygon CDK + B² Hub" combination to launch their own BTC rollup!
Financing:
B² Network was established on January 25th this year from @HashKey_Capital , @OKX_Ventures ,
Well-known investment institutions such as @IDGCapital, @ABCDELabs, @waterdripfund, etc. have obtained seed round financing.
B² Network launched its mainnet on April 17. By joining B² Hive, B² Buzz and B² Discovery, users can obtain early B² tokens at low cost. We will introduce them one by one below.
Before we start, we need to bridge BTC assets to the B² mainnet. After entering the URL, connect to the OKX or Unisat wallet, enter the amount of BTC to be bridged, and click 'Deposit Funds'.
1. B² Hive:
B² Hive is a key component of B² PoS. Users can protect the B² network by staking BTC. In return, users can receive B² token rewards. After the Babylon BTC Stake mainnet is launched, B² users can also receive rewards from Babylon.
Staking rewards started at 4:00 am UTC on May 3rd, and the distribution rules are as follows:
① A block is generated every 2 seconds, and each block generates $0.3375 of $B2, which is distributed according to the proportion of stakers. The total supply of $B² is 210 million
② Users can pledge and release pledge at any time according to their own wishes. It only takes 24 hours to release pledge.
③The minimum pledge amount is 0.001 BTC, and more types of assets will support pledge soon.
The staking process is also relatively simple. First, you need to bridge the Bitcoin in your BTC wallet to the B² mainnet. After entering the staking website, connect your wallet, enter the amount of tokens to be staked, and then click 'Stake'. If you want to contact the stake, enter the amount to be unstaked in the 'withdrawal' column in the figure, and then click 'Unstake'.
To participate in the Buzz event, just go to the website, connect your wallet, enter the invitation code and follow @BSquaredNetwork. Enter the interface and enter the amount of tokens you want to bridge to the B² network, and click 'Bridge'. In order to maximize the benefits, we need mining machine components. Now through the OKX wallet, we can directly trade B² Buzz's mining machine NFT.
B² Discovery
B² Network has released the "B² Mainnet Discovery and Bitcoin Halving Commemoration Event" which includes a series of exploration activities. There are currently two ongoing activities. By completing the corresponding tasks, you can get airdrop rewards!
①Okapi event: Go to the event website, connect your wallet, write a review for B² Network to create an Okapi Vault, then return to the main interface, select Okapi Drops and then select B² Network.
Participate in other activities on the platform and get extra rewards.
②UXLink activities:
In order to allow more web2 users to seamlessly join web3, B² Network and UXLink launched this event. After entering the website, follow the instructions to connect your wallet, follow and retweet to complete the task, and then click 'UXLINK NFT' in the upper right corner to choose to mint NFT, and you will receive triple airdrop rewards from UXLink, B² Network and LayerCraft!
Summary: B² Network uses a clever modular architecture design, and by using zk rollup and B² Hub, it has greatly expanded the scalability of the BTC ecosystem while ensuring security! It has investment endorsements from well-known institutions and cooperates with leading projects, all of which help B² become one of the most viable Bitcoin L2 solutions. For users, a variety of activities are also open to obtain B² tokens at a lower cost, which is worth early layout!
