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January 31, 2024 – ‘Construct on Bitcoin‘ (BOB), the Layer 2 stack developed by the group behind main Bitcoin DeFi platform Interlay, as we speak introduced OptiMine, an enhanced Bitcoin safety function for blockchains.
OptiMine is a safety constructing block that brings Bitcoin PoW safety to L2s, together with ETH rollups and Bitcoin sidechains, whereas retaining excessive efficiency and throughput. It brings a brand new dimension of crypto financial safety to the business, combining the robustness of Bitcoin’s Proof-of-Work (PoW) with the flexibleness and scalability of Ethereum and different EVM-compatible blockchains.
“OptiMine permits us to boost L2 options with Bitcoin’s PoW safety, providing a robust device to make rollups extra strong and cut back belief in Sequencers.” stated BOB’s co-founder, Alexei Zamyatin. “You possibly can consider OptiMine as Bitcoin’s reply to Ethereum’s restaking, aligning miners with the upcoming wave of Bitcoin L2s”.
The protocol has been developed in collaboration with a number one Bitcoin mining firm, underlining the significance of L2 options for the Bitcoin mining group.
The Technological Breakthrough of OptiMine
OptiMine introduces a novel hybrid consensus method referred to as “Optimistically Sequenced Merged Mining” that permits L2s like BOB to inherit Bitcoin safety, whereas being related to different L1s like Etheruem. This twin functionality is an business first and aligns with BOB’s imaginative and prescient of being the connecting layer between Bitcoin and Ethereum ecosystems. This system not solely addresses a important hole within the blockchain house, but additionally successfully combats the problem of sparse block house and rising transaction charges. OptiMine is a primary step in direction of BOB’s final aim to realize Bitcoin safety for Bitcoin property (BTC, Ordinals, BRC20) and Ethereum safety for Ethereum property (ETH, stablecoins, ERC20s) on L2s, thus uniting the strengths of each ecosystems.
OptiMine’s method to crypto financial safety entails:
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Bitcoin PoW Safety: Sequencers are nodes that gather and manage transactions for environment friendly processing on Bitcoin-based blockchain networks. OptiMine harnesses the total nodes run by miners, making certain that rollup block producers, like Sequencers, are accurately creating blocks.
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Quick Block Occasions: Attaining speedy block occasions is essential for contemporary blockchain functions. OptiMine permits rollups to keep up c. 2 second block occasions, whereas the safe PoW finalization occurs at slower intervals, c.1 minute.
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Restoration Mechanisms: OptiMine introduces fallback protocols to keep up performance and belief, even within the face of potential Sequencer or miner failures.
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Decentralized Sequencers. OptiMine may also be used as a mechanism to pattern Bitcoin miners into the set of lively Sequencers, as soon as a rollup has achieved Sequencer decentralization.
A Necessity in Right this moment’s Crypto Panorama
OptiMine represents a major development in blockchain expertise by seamlessly aligning Bitcoin’s L2 options with the unique Bitcoin blockchain and its miners by permitting Bitcoin miners to mine concurrently on each the Bitcoin community and BOB’s L2 options. As such, OptiMine presents miners with further incentives and rewards, which is particularly useful in mild of Bitcoin halvings that diminish direct mining rewards. This revolutionary method elevates OptiMine’s function in offering various income streams for miners, enhancing its attraction and utility.
For extra data, go to: www.gobob.xyz.
About BOB
‘Construct on Bitcoin’ (BOB) is on the forefront of blockchain innovation, providing a singular Bitcoin rollup stack that integrates Rust good contracts, native Bitcoin libraries, and full EVM compatibility. With the addition of OptiMine, BOB units a brand new customary in blockchain safety and flexibility, offering a platform for builders to discover and develop the boundaries of blockchain expertise.
Go to: www.gobob.xyz
Contact Info: [email protected]
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