The Significance of the First ZK-Proof on Bitcoin Mainnet
On the mainnet of the blockchain, at 11:22 p.m. UTC on July 24, the Bitcoin rollups protocol known as BitcoinOS (BOS) successfully confirmed the first zero-knowledge (ZK) proof. Without necessitating any modifications to the foundation of the blockchain, this accomplishment enables the Bitcoin mainnet to achieve new degrees of functionality and scalability.
The development represents an era where Bitcoin is no longer just digital gold. It is also an operating system and a platform on which the entire world of decentralized applications can be built. […] This marks a chapter where Ethereum, Solana and all of the other layer-1 projects are no longer safe from competition by Bitcoin.
Edan Yago, co-founder of BOS
ZK-SNARK Verification on Bitcoin Mainnet with BitSNARK: New Era Begins
BitSNARK, the software library for BOS’s ZK Succinct Non-Interactive Argument of Knowledge (zk-SNARK) verification, is the technology underlying the mainnet verification. In order to transfer Bitcoin between the mainnet and layer-2 rollups, developers can build near-trustless bridges using BitSNARK, according to a press release. As Yago clarified, a transaction could now represent many hundreds or even thousands of transactions. This is one of the ramifications of establishing ZK-proofs on the mainnet.
According to Yago, ZK’s achievement in demonstrating verification on the Bitcoin mainnet is in line with the company’s objective and makes it possible to practically transform it into an operating system. Yago clarified that the Bitcoin mainnet might be utilized for decentralized services and activities, such as DAOs, DeFi, and whatever else you can think of, by being transformed into something more than just a cash transaction system.
It is now possible to introduce any kind of features that you want to Bitcoin, in a permissionless way, […] to turn what a lot of people thought was a disadvantage, the fact that it was ossifying and the fact that it was very difficult to change, into its main advantage.
Yago
FAQ
What is ZK-proof?
ZK-proof (Zero-Knowledge Proof) is a cryptographic method that allows one party to prove to another party that certain information is true without revealing it.
How is ZK-proof Used in Bitcoin?
ZK-proof can be used to increase the verification and privacy of Bitcoin transactions. This allows users to carry out transactions in a more secure and private way.
How Could This Development Affect the Future of Bitcoin?
Bitcoin’s adoption of ZK-proof technology could increase the security and privacy of the network, contributing to its adoption by a wider user base.
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