TL;DR
- Fiamma has successfully integrated Babylon’s devnet, Euphrates, which represents a significant advancement in leveraging the full potential of the 21 million available Bitcoins.
- Through the implementation of the BitVM2 protocol, they will enhance the security of the Bitcoin network and allow for optimistic verification of zero-knowledge proofs (ZKPs).
- The goal is to create a secure and decentralized environment that enables Bitcoin users to access unlimited yields across multiple chains.
Fiamma has become one of the first networks to integrate Babylon’s devnet, called Euphrates. This advancement is a key step toward unlocking the true potential of the 21 million available Bitcoins.
Fiamma is dedicated to enhancing the security of the Bitcoin network through its implementation of the BitVM2 protocol, which allows for optimistic verification of zero-knowledge proofs (ZKPs), thus opening new opportunities in the crypto ecosystem.
🔓 Bitcoin's potential, fully unlocked.@Fiamma_Chain is one of the first networks to harness Babylon's Euphrates devnet, unlocking seamless ZK verification, trustless BTC bridges, and more.
👇 Read more https://t.co/VqNpTaPVhI
— Babylon (@babylonlabs_io) September 25, 2024
Fiamma’s latest innovation is the creation of an extremely compact segmented script, known as Fflonk, which is only 0.875GB in size. This enables Bitcoin to verify any type of computation, translating into practical applications that could revolutionize how digital assets are utilized.
Planned applications include the possibility of creating trustless Bitcoin bridges, facilitating cross-chain liquidity swaps through a ZK Bitcoin bridge, and enabling interoperability without bridges, which would ease the purchase of assets on other blockchains using BTC directly.
Fiamma’s approach aims to resolve the centralized trust issues that have historically affected asset transfers between chains, as well as the inherent limitations in Bitcoin’s programmability.
Fiamma and Babylon Will Provide Unprecedented Security Levels
By using the BitVM2 protocol, which allows for arbitrary computation on Bitcoin through a fraud-proof mechanism, Fiamma provides an unprecedented level of security for all projects within its ecosystem. This will strengthen the Bitcoin infrastructure and offer users unlimited yield opportunities across multiple chains, injecting BTC into other ecosystems like Ethereum and Solana.
The collaboration between Fiamma and Babylon aims to create a robust ecosystem that allows Bitcoin users to access yields in a secure and decentralized environment. Babylon, which specializes in shared BTC security protocols, stands out for its self-custodial staking approach, eliminating the need to trust third parties for asset management.
The combination of Fiamma’s and Babylon’s capabilities paves the way for new and complex interactions within the blockchain industry, expanding the reach and utility of Bitcoin in the decentralized economy
