Bitcoin Virtual Machine (BVM) deploys ZK-rollups to scale Bitcoin

2024-06-27 06:52:51

The development team behind the Bitcoin Virtual Machine (BVM) has recently introduced BitZK, a zero-knowledge proof service aimed at enhancing the scalability of Bitcoin. This service allows users to create rollups, thereby enabling the migration of applications from Ethereum to Bitcoin. This development addresses the growing demand for scalability solutions on Bitcoin, especially after protocols like Ordinals and Runes have been launched, driving significant growth in onchain activity.

The expansion of Bitcoin in the past has posed many challenges, from increasing block size to developing scalable layer 2 solutions. The recent increase in onchain activity has sparked a demand for more efficient scaling solutions. BVM’s approach involves using ZK-rollups to compress data, a successful solution in improving scalability on Ethereum.

BVM’s minimum fee for accessing the BitZK service is $99 per month, including memory, CPU, and storage costs related to operating a Bitcoin Layer 2. They offer higher price models at $499 and $1,999, serving different user needs.

Launched in January 2023, BVM aims to expand the Bitcoin network, making pioneering functionalities on other blockchains, such as Ethereum, feasible on Bitcoin. BVM operates as a state machine similar to the Ethereum Virtual Machine (EVM), utilizing Bitcoin as a secure data layer while achieving transaction-level consensus.

This initiative is part of a larger trend where various Bitcoin scaling solutions are being adopted to meet the increasing block space demand caused by new protocols.

BTC2,5%

VIRTUAL0,82%

ZK0,28%

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