Bitcoin developer Burak, well-known for his contributions to the Lightning Network, has introduced a revolutionary layer 2 solution called “Brollups.” This innovative solution aims to enhance Bitcoin’s capabilities in decentralized finance (DeFi) without the need for a hard fork or a new token.
Burak’s focus is on expanding the use cases of DeFi on the Bitcoin network through Brollups, as stated in a recent Trading View update. This new solution combines transactions and is managed by operators who link Bitcoin transactions at regular intervals on the Bitcoin Virtual Machine. By integrating Brollups, Bitcoin’s scalability and utility in the DeFi sector are greatly improved.
Currently, Brollups is in the design phase, as discussed in a recent YouTube video by CNF. A testnet version of Brollups is expected to be released later this year.
Burak emphasized in a Medium post on June 21 that Brollups are deeply integrated with Bitcoin, allowing seamless execution of bundled transactions on the Bitcoin network. He highlighted the potential of Brollups in enabling verifiable, scalable, and enforceable DeFi applications.
In a recent tweet, Burak provided further insights into the development and expected capabilities of Brollups, introducing it as a Bitcoin-native rollup design that works with a native Bitcoin peg and requires no changes to the Bitcoin protocol.
Burak has received praise from the Bitcoin community for developing Brollups without the need for a hard fork or the creation of a new token. His previous work includes an exploit on the Lightning Network in October 2022, where a 998-of-999 multisignature Taproot transaction led to an emergency update for Lightning Network node operators. This incident highlighted an unintended consequence of the Taproot upgrade.
Although Taproot transactions reached a peak of 46.4% of all Bitcoin transactions in December 2023, they have since declined to 30%. Burak’s efforts, along with other Bitcoin scaling projects like Drivechain and Spiderchain, continue to enhance Bitcoin’s functionality in the DeFi space.
As Brollups move towards a testnet release, the Bitcoin community eagerly awaits the enhanced capabilities that this solution promises to bring. The current price of Bitcoin is consolidating at $65,000, with speculation on whether it will reach $70,000 or drop to $60,000 next. Bitcoin (BTC) is currently trading at $61,357.05, with a decrease of 4.69% in the past day and 6.57% in the past week. For more details, refer to the BTC price chart.
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