Layer 2 network Bob has launched its test network before the mainnet broadcast in the fourth quarter of this year.
Bob’s goal is to describe himself as a hybrid 2 layer, combining Bitcoin’s security and reserves with Ethereum’s programmability (defi) center.
BITVM is Robin Linus introduced in the second half of 2023 As a means to make Bitcoin summed up on top, it can therefore make faster and cheaper transactions without compromising the security of the network.
Bob’s bridge utilizes BITVM to allow the transfer of BTC to the summary and then bring it back so that it can be withdrawn.
At the heart of Bob’s spirit, it will use actual BTC instead of packaged asset versions as fuel for DEFI services. Some projects use the parceled Bitcoin form to bring the value of BTC to their ecosystem for use in Defi applications, For example a stack with SBTC token.
Bob said in an announcement shared with Coindesk on Wednesday: “Just as Eth is still in Ethereum volumes like optimism and arbitration,”
Aggregation such as arbitration bundled transactions, then use fraudulent evidence to ensure it is correct, and then solve Ethereum in a cheap way. Bob said it does something similar on Bitcoin.
Co-founder Alexei Zamyatin described it as a “clear difference” between the product and packaging version of BTC in a telegram message to Coindesk.
TestNet debuts with the support of many major crypto companies that will operate nodes on the BITVM bridge such as Staking Developers P2P.org and Lombard, Defi Platform solv protocol, Crypto Venture Capital Capital Soldist Rockawayx and Digital Asset Asset Manager Amber Group.
