DeFi

Bitcoin

Toncoin

Bitcoin developer “Burak” renowned for previously exploiting a bug in the Lightning Network is now working on a new <a href="https://www.coingabbar.com/en/crypto-blogs-details/photon-crypto-scales-bitcoin-with-layer-2-solution" title="Bitcoin layer 2" class="f-link" style="font-size: 16px; background-color: rgb(255, 255, 255);" rel="noopener noreferrer nofollow">Bitcoin layer 2</a> solution called “Brollups.” This innovative project aims to enhance Bitcoin’s decentralized finance (DeFi) capabilities by potentially supporting more than 90% of DeFi use cases that include NFT sales and token orders on decentralized exchanges (DEXs). 
<h3 style="text-align: justify;" id="span-span-data-font-font-size-style-font-size-16px-what-is-brollups-span-span">What is Brollups</h3>
Brollups is a new Bitcoin layer 2 technology developed by Burak. It is designed to improve Bitcoin's decentralized finance (DeFi) capabilities. It bundles multiple transactions together without changing Bitcoin's core or creating new tokens. Brollups aim to support activities like NFT sales and token trading on decentralized exchanges, making these transactions efficient, secure, and scalable on the Bitcoin network. This innovation integrates seamlessly with Bitcoin by preserving its original structure while enhancing its functionality.
<h4 style="text-align: justify;">What’s the News</h4>
Burak, who created the Ark Protocol, a Lightening Network Competitor, now introduces Brollups. Brollups is a Bitcoin-native roll-up technology that bundles transactions efficiently, without needing a Bitcoin hard fork or creating a new token.
As per information, Brollups is still in the design phase with a testnet rollout (signet) expected later this year. The goal is for Brollups to facilitate various DeFi activities on Bitcoin, making transactions atomic, verifiable, scalable, and enforceable.
In Burak’s vision, users can list NFTs for sale in exchange for Bitcoin with buyers paying in Bitcoin upon execution. Additionally, token sell orders on DEXs will be possible while maintaining Bitcoin’s integrity and without altering its core protocol.&nbsp;
Operators will oversee the Brollups, enhancing their progress by consistently linking Bitcoin transactions. These transactions will be carried out on the Bitcoin Virtual Machine, guaranteeing smooth integration with Bitcoin's current framework.
The Bitcoin community has lauded Burak for developing Brollups without necessitating a hard fork or creating a new token, which preserves Bitcoin’s fundamental design. This development follows Burak’s notable 2022 exploit of the Lightning Network with a 998-of-999 multi-signature Taproot transaction. This led to an emergency update for Lightning Network node operators. Although no funds were stolen, the exploit exposed an unintended consequence of the Taproot upgrade.
<h4 style="text-align: justify;">Conclusion</h4>
According to CoinGabbar, Burak’s introduction of Brollups marks a significant step towards integrating DeFi functionalities with Bitcoin, potentially transforming the way decentralized finance operates on the <a href="https://www.coingabbar.com/en/crypto-currency-news/bitcoins-resurgent-dominance-in-blockchain-usage" title="Bitcoin" class="f-link" rel="noopener noreferrer nofollow">Bitcoin</a> network. As Brollups advances in its development and evaluation stages, the Bitcoin community holds onto its hopeful view of its ability to back various DeFi applications while upholding the fundamental values of Bitcoin. This advancement is in line with continuous work to improve Bitcoin's capacity and ease of use for decentralized applications. With a testnet launch expected in the coming months, the cryptocurrency community is keenly looking forward to more progress in this promising initiative.
Also read: <a href="https://www.coingabbar.com/en/crypto-blogs-details/toncoin-a-game-changer-in-the-crypto-world" title="The Journey of Toncoin From Telegram to Blockchain" class="f-link" style="" rel="noopener noreferrer nofollow">The Journey of Toncoin From Telegram to Blockchain</a>

Expanding Bitcoin’s DeFi Capabilities With Burak’s Brollups

Table of Contents

Coingabbar

دیگر آرٹیکلز 24 جون، 2024 پر پبلش کیے گئے ہیں

Tron Founder Justin Sun Accumulates $49M in Ethereum

Dogwifhat Price Forecast: Is It Time to Buy The Dip?

CoinStats Halts Activity After Security Breach Affects 1,590 Wallets

Could MoonBag Be the Top Crypto Presale of 2024, Smashing $2.8 with 88% APY, Outperforming Arweav...

Toncoin: Is a turnaround in store for TON at this key support?

Best Meme Coin Airdrops This Month: Don't Miss Out!

Join our free newsletter for daily crypto updates!