- Following the successful test of a bridge prototype in
December, BOB's bridge launch on public testnet marks a significant
milestone for trust-minimized Bitcoin
DeFi
- BOB has also launched the BitVM/acc Implementation Working
Group with major institutional partners including ZeroSync,
Babylon, Anchorage, Rockaway, and Others To Drive the Adoption of
BitVM in 2025.
LONDON, Feb. 28,
2025 /PRNewswire/ -- BOB ("Build on
Bitcoin"), the hybrid Layer-2 combining
Bitcoin's security with Ethereum's
DeFi innovation, has officially launched its
trust-minimized BitVM Bitcoin bridge on public testnet
in collaboration with Fiamma.
This launch solidifies BOB as the home of Bitcoin
DeFi, advancing its mission to provide secure,
trust-minimized access to Bitcoin DeFi
and yield. BOB's bridge is powered by BitVM, a revolutionary system
that enables off-chain program execution on Bitcoin
with on-chain dispute resolution, similar to Optimism on
Ethereum. BOB's BitVM bridge allows secure BTC
deposits and withdrawals on its hybrid Layer-2 without reliance on
third-party custody or multi-sig bridges, ensuring funds remain
secure as long as there is a single honest, online node. Unlike
wBTC, cbBTC and other wrapped Bitcoin variants,
Bitcoin bridged via BitVM is non-custodial and trust
minimized.
Alexei Zamyatin, BOB
Co-Founder and BitVM Core Contributor said: "Removing the need
for third-party bridges to deploy Bitcoin across
DeFi is a major step toward unlocking
Bitcoin's trillion-dollar potential. On our path to
create the most secure solution for Bitcoin in
DeFi, we've gone from concept, to BitVM2 design, to
prototype and now to public testnet in just a year. The
Bitcoin renaissance is accelerating."
Key Enhancements to the BitVM Bridge
BOB's BitVM bridge has undergone other key improvements from the
earlier test prototype, including:
- Dispute resolution - where the BitVM bridge now has a challenge
mechanism that ensures all transactions are completed correctly,
significantly improving security and trust in the system.
- BOB's BitVM smart contracts can now verify correct payments
through an on-chain relay, double-checking them in the prover and
also checking the correctness of BOB blocks and blockchain
attestations.
- Integration of BitVM into BOB Gateway, BOB's intents-based
swaps system will allow for efficient deposits onto BOB and
withdrawal of Bitcoin back to the Bitcoin
mainnet.
BitVM/acc Implementation Working Group
BOB has also launched the BitVM/acc Implementation Working Group
to accelerate BitVM's adoption and ensure its practical integration
across the Bitcoin DeFi ecosystem. This
initiative brings together the brightest minds in the industry to
refine BitVM's functionality and unlock its full potential for both
institutional and retail users.
Zamyatin continued: "BitVM is not just about
tech. To succeed in creating a more secure Bitcoin
DeFi environment, we must develop BitVM as a product -
and the only way to do this is by collaborating with relevant
stakeholders. BitVM/acc is a working group that brings together
BitVM builders, Web3 businesses and institutions that will benefit
and/or operate BitVM. Our mission is to accelerate BitVM adoption
and ensure BitVM is developed in line with the business needs of
both users and operators."
Recognizing that widespread adoption requires collaboration
across multiple sectors, BitVM/acc focuses on real-world
implementation by uniting experts in staking, custody, liquidity
provision, market making, research, and blockchain security. The
goal is to develop BitVM not just as a technological breakthrough,
but as a practical, widely adopted solution that meets the evolving
needs of the Bitcoin DeFi landscape.
The accelerator serves as an open forum for industry leaders to
collaborate on advancing Bitcoin bridging solutions
and overcoming challenges that could hinder adoption. Membership is
free and open to all interested parties, encouraging broad
participation across the ecosystem.
Founding Members Include:
- Institutional partners: Amber, Anchorage,
Ankr, ChorusOne, Hex Trust, P2P, Rockaway, Unit410, UTXO, viaBTC
Capital, Wintermute
- Research partners: Babylon,
Bitcoin Layers, BOB, Common Prefix, Fiamma, House of
ZK, RiscZero, Succinct, ZeroSync
About BOB ("Build on Bitcoin")
BOB ("Build on Bitcoin") is a Hybrid Layer-2
blockchain that combines the best of Bitcoin and
Ethereum to create the home for Bitcoin
DeFi. The unique Hybrid L2 model merges the strengths
of both ecosystems—Bitcoin's security and dormant
capital, with Ethereum's DeFi innovation
and versatility. By positioning BTC as the backbone of a new
decentralised finance system, BOB can unlock new use cases and
trillions in BTC liquidity. BOB uses BitVM to inherit security from
Bitcoin and create trust-minimized bridges between
BOB, Bitcoin, Ethereum, and other L1s. As
a result, the Hybrid L2 does not need to rely on third-party
bridges for interoperability, concentrating liquidity around
Bitcoin instead of fragmenting it across chains. BOB
is backed by leading investors such as Castle Island Ventures,
Coinbase Ventures, Ledger Cathay Ventures, and
IOSG.
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SOURCE BOB ("Build on Bitcoin")
