Polyhedra Network is thrilled to introduce a new messaging protocol for Bitcoin called zkBridge. It's meant to make #Bitcoin work better with other networks, making it easier for them to communicate.
Bitcoin as sender chain: using zkBridge to trustlessly access any data on Bitcoin
To facilitate interactions between Bitcoin and other networks, it’s essential to implement functionality in two key directions:
Bitcoin acting as both a sender and receiver chain.
The first part, Bitcoin as a sender chain, fits perfectly with our zkBridge framework. With zkBridge, the receiver chain's updater contract (like the light client contract) can directly check Bitcoin's agreement and each transaction using the Merkle proof.
This setup ensures that both Bitcoin's overall agreement and the proof of individual transactions can be securely managed by zkBridge.
Bitcoin zkBridge boosts Bitcoin's interoperability.
It enables all current and past Bitcoin data to be accessed by layer-1 and layer-2 networks like Ethereum, BNB Chain, and Arbitrum, as well as any applications.
Compatible with recent Bitcoin innovations like Ordinals, BRC-20, and Atomicals.
Allows smart contracts on other blockchains to securely access Bitcoin data and protocols using zero-knowledge proofs.
Bitcoin as receiver chain: Write remote chain data to Bitcoin with decentralized and economic trust
Bitcoin zkBridge enhances Bitcoin's interoperability and overall blockchain security.
Bitcoin lacks native smart contract functionality, making it unsuitable as a standard zkBridge receiver chain.
Ethereum is used as the representative sender chain with Bitcoin as the receiver chain for simplicity.
Proof of Stake (PoS)-style mechanism is adopted for security, with validators staking native Ethereum tokens (or BNB if sender chain is BNB Chain).
Validators authorized to write data on Bitcoin network; consensus on messages achieved through Multi-Party Computation (MPC) protocol.
MPC protocol used to enhance robustness and reliability of the protocol.
Our detailed scheme unfolds as follows:
Stakers deposit tokens on Ethereum as collateral.
Malicious actions by stakers can be reported on Ethereum.
The bridge is used to transmit related transactions from Bitcoin to Ethereum.
Instant transmission of offending information to Ethereum via relay network.
Unidirectional bridge structure with Bitcoin as source chain.
Blockheader relay network allows any node to pass Bitcoin blockheaders to Ethereum using zero-knowledge proofs.
Dedicated smart contract on Ethereum verifies validity of messages from Bitcoin network and executes withdrawal of dishonest staker's deposit.
Mechanism remains secure, trustless, and decentralized as long as one committee member or user on Bitcoin network remains honest.
In essence, the staking/restaking mechanism not only augments the utility of bitcoins but also reinforces the trust and security across PoS blockchains, marking a significant advancement in the realm of digital assets and decentralized finance.
Conclusion
In conclusion, Polyhedra Network's Bitcoin interoperability protocol represents a significant advancement in blockchain tech. With zkBridge enabling Bitcoin to act as both sender and receiver, it opens up unprecedented interaction with other blockchain networks. This innovation ensures robust security through staking and slashing mechanisms while expanding Bitcoin's utility and reach. It taps into idle bitcoins' potential, fortifying trust and security in proof-of-stake blockchains and shaping the future of digital assets and decentralized finance.
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