Medium

2024

DeFi

Bitcoin

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<ul> 
 <li><strong>Burak, known for his work with the Lightning Network, introduces Brollups, a new Bitcoin layer 2 solution.</strong></li> 
 <li><strong>Brollups aim to enhance Bitcoin’s DeFi capabilities without needing a hard fork or new token.</strong></li> 
</ul>  
<p>Bitcoin developer Burak, renowned for his exploits with the <a href="https://www.crypto-news-flash.com/coinbase-accelerates-bitcoin-trade-with-lightning-network-shiba-inu-and-nuggetrushs-positive-outlook-attracts-whales/">Lightning Network</a>, has unveiled a groundbreaking layer 2 solution named “Brollups.” This innovation is designed to support over 90% of decentralized finance (DeFi) use cases, such as NFT sales and token trades on decentralized exchanges (DEXs), without requiring a hard fork or a new token.</p> 
<p>According to a recent Trading View update, Burak is focusing on bringing more DeFi use cases to Bitcoin through Brollups. This new solution bundles transactions and is managed by operators who chain Bitcoin transactions at regular intervals on the Bitcoin Virtual Machine. This integration enhances <a href="https://www.crypto-news-flash.com/bitcoin-price-stalls-at-64807-as-cash-and-carry-strategy-dominates-market/">Bitcoin’s scalability and utility</a> in the DeFi sector.</p> 
<h2 id="current-development-phase">Current Development Phase</h2> 
<p>As discussed in a <a href="https://www.youtube.com/watch?v=7A5Os6hWSoY" target="_new" rel="noreferrer noopener">recent YouTube video</a> by CNF, Brollups are currently in the design phase, with a testnet version anticipated later this year.</p> 
<p><iframe title="Bitcoin Developer Burak Introduces 'Brollups' to Boost DeFi Capabilities on Bitcoin" width="788" height="443" src="https://www.youtube.com/embed/7A5Os6hWSoY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p> 
<p>In a <a target="_new" rel="noreferrer noopener">June 21 Medium post</a>, Burak emphasized that Brollups are deeply integrated with Bitcoin, allowing transactions to be bundled and executed seamlessly on the Bitcoin network. He highlighted their potential for verifiable, scalable, and enforceable DeFi applications.</p> 
<p>In a <a href="https://x.com/brqgoo/status/1803973553458425997" target="_new" rel="noreferrer noopener">recent tweet</a>, Burak provided additional insights into the development and expected capabilities of Brollups.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Introducing Brollups: a Bitcoin-native rollup design that works with a native Bitcoin peg and requires no changes to the Bitcoin protocol.<a href="https://t.co/OW2y0xJrg0">https://t.co/OW2y0xJrg0</a></p> 
 <p>— Burak (@brqgoo) <a href="https://twitter.com/brqgoo/status/1803973553458425997?ref_src=twsrc%5Etfw">June 21, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 id="praise-from-the-bitcoin-community">Praise from the Bitcoin Community</h2> 
<p>Burak has received considerable praise from the Bitcoin community for developing Brollups without the need for a hard fork or creating a new token. His previous work includes exploiting the Lightning Network in October 2022 with a 998-of-999 multisignature Taproot transaction, which led to an emergency update for Lightning Network node operators. This incident highlighted an unintended consequence of the Taproot upgrade.</p> 
<p>Although Taproot transactions peaked at 46.4% of all Bitcoin transactions in December 2023, they have since fallen 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.</p> 
<p>As Brollups move towards a testnet release, the Bitcoin community eagerly anticipates the enhanced capabilities this solution promises to deliver. From the previous CNF update, <a href="https://www.crypto-news-flash.com/bitcoin-on-sale-price-consolidates-at-65000-is-70000-or-60000-next/">Bitcoin is consolidating at $65,000, with speculation on whether it will reach $70,000 or drop to $60,000 next</a>. Bitcoin (BTC) currently trades at <strong>$61,357.05</strong>, with a decrease of <span style="color: #ff0000;"><strong>4.69%</strong></span> in the past day and <span style="color: #ff0000;"><strong>6.57%</strong></span> in the past week. See the <a target="_new" rel="noreferrer noopener">BTC price chart</a> for more details.</p> 
<p><span data-sheets-root="1" data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;&quot;}" data-sheets-userformat="{&quot;2&quot;:513,&quot;3&quot;:{&quot;1&quot;:0},&quot;12&quot;:0}"></span></p>
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Bitcoin Developer Burak Unveils ‘Brollups’ for Enhanced DeFi on BTC

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