Ethereum

Bitcoin

Bitcoin Virtual Machine

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-team-introduces-bitzk-for-enhanced-scalability/" data-wpel-link="internal">Bitcoin Team Introduces BitZK for Enhanced Scalability</a> 
Bitcoin Virtual Machine (BVM) team recently announced the launch of BitZK, a service leveraging zero-knowledge proofs to enhance Bitcoin’s scalability. BitZK addresses the growing need for efficient scaling solutions on the Bitcoin (BTC) network, enabling users to create backups and migrate <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener" data-wpel-link="exclude">applications</a> from <a href="https://en.coin-turk.com/invesco-galaxy-applies-for-spot-ethereum-etf/" data-wpel-link="internal">Ethereum</a> (ETH) to Bitcoin. This development follows an increase in on-chain activity driven by protocols like Ordinals and Runes, which have boosted block space demand similar to Ethereum’s experience. 
<h2 style="text-align: justify" id="strong-a-historic-step-in-scaling-the-bitcoin-network-strong">A Historic Step in Scaling the Bitcoin Network</h2> 
Scaling the Bitcoin network has historically been a challenging endeavor. Efforts to increase block sizes or develop scalable Layer-2 solutions have faced significant obstacles. While the network’s traditionally smaller user base allowed developers time to consider the best scaling methods, the recent surge in on-chain activity necessitated more immediate and effective solutions. At this point, BitZK represents a historic step by using zero-knowledge proofs to compress data, a technique successfully used in many popular Ethereum rollups. 
BVM’s launch of BitZK marks a significant technological breakthrough by introducing the first Bitcoin ZK-rollups to the mainnet, enhancing the largest cryptocurrency’s functionality and enabling it to support applications typically found on more general networks like Ethereum. 
The introduction of BitZK is part of BVM’s mission to use Bitcoin as a data layer for transaction-level consensus, leveraging Bitcoin’s security and data availability without needing additional networks or consensus protocols. 
<h2 style="text-align: justify" id="strong-available-starting-at-499-strong">Available Starting at $499</h2> 
The BitZK service was launched with a starting <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">price</a> of $99 per month, covering the memory, CPU, and storage costs associated with running a Bitcoin Layer-2. Higher-tier pricing models of $499 and $1,999 are also available to meet different user needs. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-365616" src="https://coin-turk.com/wp-content/uploads/2024/06/Bitcoin-ZK.png" alt="" width="3078" height="1734"> 
Early adopters of the service include notable Bitcoin Layer-2 projects such as RWA Chain, POWD3R Blockchain, and Octopus Bridge, indicating strong initial interest and potential for broader adoption. 
Launched in January 2023, BVM aims to transform the Bitcoin network into a more versatile platform. The project’s whitepaper outlines the goal of creating an Ethereum-VM-like state machine using Bitcoin’s infrastructure for transaction-level consensus. This approach is seen as significant, allowing BVM to function as a general-purpose state machine while maintaining Bitcoin’s inherent security advantages and offering enhanced functionality. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-team-introduces-bitzk-for-enhanced-scalability/" data-wpel-link="internal">Bitcoin Team Introduces BitZK for Enhanced Scalability</a></h5>

Bitcoin Team Introduces BitZK for Enhanced Scalability

Obsah

COINTURK NEWS

Ďalšie články zverejnené 27. 6. 2024

Master Of Scams: Metallica’s Hacked X Account Promotes Solana Token

Hang Tight! Robert Kiyosaki Says Bitcoin Is Taking Off Into The Banana Zone

AdEx Introduces a Revamped Platform for Web3 Advertisers with Enhanced AI and Zero-Knowledge Tech...

Investors Favour BlockDAG as the Premier Layer 1 Crypto, Eyeing 30,000x Gains Amid Rising Prices ...

Unlock Cash Without Selling: What is a Bitcoin-Backed Loan and How Can You Get One to Empower You...

Make Haste and Join Qubetics Whitelist as Tron and Polygon are About to Deter With Major Declines

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!