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The new method is expected to pave the way for a Bitcoin L2 infrastructure similar to Ethereum's, with both optimistic and ZK rollup solutions.
Developers are exploring ways to extend Bitcoin’s functionality beyond its well-established role as a store of value. One prominent effort in this direction is the development of Bitcoin’s layer 2 (L2) protocol. However, these scaling solutions come with limitations like security vulnerabilities or inefficiency. To tackle these challenges, Polyhedra Network has introduced a novel method to verify zero-knowledge (ZK) proofs directly on the Bitcoin network.
Our team has developed a novel method for verifying ZK proofs directly on the Bitcoin blockchain, promising significant scalability improvements. 🔍 #Bitcoin #ZKhttps://t.co/ymT1EpLEnr
— Polyhedra Network (@PolyhedraZK) March 22, 2024
In a Friday blog post, Polyhedra Network detailed that the new method uses FRI (Fast Reed-Solomon Interactive) style proofs to improve the efficiency of transactional verification on the main chain. The proposed FRI-based ZK proofs require fewer computations compared to other systems, which is especially beneficial for the resource-constrained Bitcoin blockchain.
According to the Polyhedra team, verifying ZK proofs directly on the Bitcoin blockchain allows for a more efficient way to handle transactions. This could alleviate performance bottlenecks in the network and enable optimistic and ZK rollups, similar to Ethereum’s L2 solutions.
“Looking ahead, we envision the Bitcoin ecosystem evolving similarly to Ethereum’s L2 infrastructure, with a division between optimistic rollups (such as Arbitrum and Optimism) and ZK rollups (such as Starknet and Polygon),” wrote the Polyhedra team.
The new method also addresses security concerns about existing approaches, ensuring the integrity of proofs. Overall, Polyhedra seeks to harness technology to improve scalability and security and unlock new possibilities for the network. The team expects it will inspire further innovation in Bitcoin technology.
Polyhedra Network is a web3 infrastructure provider that brings interoperability, scalability, and privacy through zero-knowledge proof technology. As of March 2024, the project has secured $45 million in three funding rounds with the participation of prominent industry players, including Animoca Brands, Binance Labs, Haskey Capital, and Polychain Capital.
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