TL;DR
- BitSNARK v0.2 allows verifying any complex computation on Bitcoin efficiently and securely, without changing its core protocol.
- The new version reduces transaction size to less than 100 KB and requires only six interactions to complete verification.
- It opens the door to trustless crypto bridges, rollups to scale the network, and DeFi applications like exchanges and BTC-backed stablecoins.
BitcoinOS (BOS) has launched BitSNARK v0.2, an improved version of its protocol for verifying zero-knowledge proofs (ZKPs) on the Bitcoin network. This new technology aims to expand BTC’s programmable capabilities without modifying its core protocol, enabling the verification of complex computations efficiently and securely.
The code for BitSNARK v0.2 is publicly available for review and experimentation, intending to receive contributions from the crypto and developer communities.
BitSNARK operates through an interactive verification process between a prover and a verifier. The prover submits a ZKP to the Bitcoin blockchain, claiming that a computation was performed correctly. If the verifier doubts the validity of the proof, they can initiate a challenge. Using a binary search method, the specific point of disagreement in the computation is identified and resolved deterministically on the Bitcoin network. This process validates complex computations with minimal on-chain data, avoiding the need to alter BTC’s consensus protocol.
A New Set of Capabilities for Bitcoin
BitSNARK version 0.2 introduces significant improvements over the previous version. It can verify any computation performed in any virtual machine, removing the limitations that restricted the protocol to specific tasks. It also significantly reduces the transaction size required to verify external proofs, keeping it below 100 kilobytes. This makes it easier to include these transactions in regular blocks without causing issues for miners. Additionally, the number of interactions required to complete the verification process has been reduced to six, enhancing the protocol’s efficiency and feasibility for real-world applications.
Bridges, Rollups, Stablecoins, and More
BitSNARK v0.2 opens the door to applications that were previously challenging to implement on Bitcoin. It enables trustless crypto bridges to transfer assets between BTC and other blockchains without centralized intermediaries. It also makes it possible to implement rollups that improve network scalability and execute thousands of off-chain transactions before settling them on the main chain. Moreover, it supports the development of programmable BTC tokens and decentralized financial applications like exchanges, BTC-backed stablecoins, and lending protocols.
With this release, BOS invites developers and community members to explore and contribute to the progress of BitSNARK. The code is available on GitHub, and testing can be done on test networks with minimal setup
