Bitvm Bridge de Bitlayer launched its netnet on Wednesday, enabling Bitcoin
Liquidity for decentralized finances through a minimized trusted framework.
The bridge keeps users the safe BTC when blocking it in the Bitvm intelligent contract that operates under the assumption that at least one honest participant in the market exists, ready to expose malicious attempts to move funds.
This minimized trust configuration clearly contrasts to traditional custodians involving centralized custody or distributed custody.
“During the past year, we have dedicated significant resources to developing the Bitvm bridge, and we are delighted to finally deliver this milestone to the community,” said Kevin, co -founder of Bitlayer, in a press release shared with Coindesk.
“Implementation after the principles, our approach changes to climb the compatibility of the assets and the deepening of the integration with additional blockchain networks,” he added.
YBTC, an entrance door to BTC Defi
Central To Bitlayer is YBTC, a token that directly represents the user blocked bitcoin. Its value is set 1: 1 with BTC, and opens decentralized finances to BTC holders who seek to generate additional performance by allowing them to lend, provide, provide, trade and provide liquidity through multiple decentralized exchanges.
Token security is derived directly from the transparent and verifiable bitvm intelligent contract, unlike the BTC wrapped (like WBTC)which is based on a central trust entity to maintain the real BTC.
Note that YBTC is different from the native token of Bitlayer, BTR, which is used for governance, rates and rethinking within the ecosystem and is programmed to appear in the main centralized exchanges.
Front model and claim
In general, the elimination of centralized custodians implies longer waiting times, especially in the case of fraud proof systems such as Bitlayer. Here, although transactions are supposed to be honest, anyone who sees can intervene to demonstrate if something went wrong.
To allow enough time for these crucial security controls, there is an incorporated waiting period, usually seven days, during which a fraudulent transaction could be questioned. This can lead to longer retirement times.
However, Bitlayer uses an innovative “front and claim” model, transferring the waiting period to specialized runners or third -party liquidity suppliers. These entities provide the BTC retired from their own funds to users in approximately one hour. Meanwhile, they hope you finish their original security period seven days before recovering their funds from the smart contract.
This approach offers security without trust and a quick and convenient user experience.
“There is a frontal mechanism in the design of the Bitvm bridge, the pegout user will recover its BTC at the Bitcoin block time,” he told Condesk. “The waiting time will be left to the corridor(operator)“
Expansive ecosystem
Bitlayer is prioritizing integration with the solutions of Ethereum Mainnet and the main ones in layer 2, as well as exploring Solana and Bitcoin-Native Layer 2, such as Network Lightning applications. He has already ensured integration with other leading ecosystems, including Sui, Base, Starknet and Arbitrum, Sonic, Plume Network and Sindial.
“Our goal is to make YBTC universally accessible where there is a significant defi liquidity, allowing Bitcoin to flow safely and without problems in various ecosystems,” said Bitlayer’s team to Coindesk.
The team added that it plans to establish a security committee, publish audit reports and make errors and open source rewards and its code, creating a road map that positions the Bitvm Bitvm bridge of Bitlayer as a crucial infrastructure for the future of BTC in Defi.
Read more: Bitlayer joins forces with antpool, F2pool and Spiderpool to overheat bitcoin defi
