BTC spot ETF once again turns BTC into the protagonist of the cryptocurrency market, while the BTC ecosystem is also thriving.

There are many new technologies and projects in the BTC ecosystem. Among them, the project @LumiBitL2 is exploring based on zk-EVM.

❖Technical Points❖

First, let's introduce the technical features of LumiBit and popularize some blockchain technology knowledge.

➤Rollup

A blockchain scaling technology that executes transactions and computations off-chain, aggregates transaction data, and then submits it to the main chain for verification. Although the BTC network does not support smart contracts, LumiBit adopts client-side verification. Users use open-source clients to participate in Rollup verification, independent of third-party nodes.

➤ZK-Rollup

Rollup mainly includes two types: Optimistic Rollups, which use delayed verification and dispute resolution mechanisms. It sets a window period, during which if someone challenges the transaction information, they can initiate challenge verification of the transaction information. If no one challenges it after the window period, the transaction information is assumed to be correct. There is a delay when funds are transferred from Layer2 to Layer1 in Optimistic Rollups. In addition, when verifying transaction information, Optimistic Rollups require verification of a large amount of transaction data.

In contrast, in ZK-Rollup technology, the transaction data in Layer2 is compressed into a smaller scale ZK proof through zero-knowledge proof and submitted to the main chain for verification, thus requiring a smaller amount of data for verification. There is also no need to wait for delayed verification window period.

ZK-Rollup is a widely recognized blockchain scaling technology.

➤Type2 ZK-EVM

V God once summarized 5 types of ZK-EVM in an article.

Type1 ZK-EVM is equivalent to Ethereum, fully compatible with Ethereum EVM, but with low verification efficiency.

Type2 ZK-EVM is equivalent to EVM, but it modifies block structure, state tree, and other data structures, which allows good compatibility with EVM while improving verification efficiency.

From Type3 onwards, verification efficiency increases, but compatibility with EVM decreases.

LumiBit is built based on Scroll technology and can achieve Type2 ZK-EVM, with good compatibility with EVM.

➤Circuit Design

Type 2 ZK-EVM can achieve design based on general circuits, capable of simulating any specific program or algorithm. LumiBit will also provide an SDK for customized circuit design. In addition, LumiBit's circuit design will generate a proof state tree that complies with the BTC UTXO model.

LumiBit's circuit provides extremely convenient and flexible infrastructure for DAPP development, supporting the synchronization of ZK proof to the BTC network.

➤Halo2 Zero-Knowledge Proof

Zero-knowledge proof (ZK). The proof process involves original data undergoing a series of encrypted calculations to produce a ZK proof. The verification process does not require knowledge of the original data, and the authenticity of the ZK proof can be verified using an algorithm.

ZK technology mainly has two types: zk-SNARK and zk-STARK. zk-SNARK generates shorter ZK proofs, resulting in faster verification efficiency. Generally, zk-SNARK requires a trusted setup, where an initial environment is set up and some key materials are generated before calculating the ZK proof. After the calculation, the key materials are destroyed. However, if the keys are leaked, they can be used to forge fake ZK proofs.

Halo2 is a SNARK algorithm structure that does not require a trusted setup, thus addressing the security issues of zk-SNARK.

Therefore, Halo2 zero-knowledge proof can better balance security and efficiency.

➤Omin Wallet

LumiBit uses native BTC wallets to participate in the ecosystem, applying abstract account technology. Users only need to use the BTC private key to create abstract accounts on the LumiBit chain, execute various on-chain transactions, and participate in the BTCL1 ecosystem and L2 EVM applications.

Omin Wallet provides users with a native BTC experience.

➤Real-time Cross-Chain Communication and Asynchronous Cross-Chain Transactions

Real-time cross-chain communication refers to LumiBit's indexer and listener, which can read BTC mainnet information in real-time and use it for on-chain applications.

Asynchronous cross-chain transactions mean that assets on the BTC mainnet can be independently mapped to the LumiBit chain for transactions without the need for pre-cross-chain processing.

❖Feasibility and Innovation Analysis❖

Using clients to perform Rollup verification is innovative and feasible. Because ZK proofs, especially those generated by zk-SNARK, are short, clients can complete verification. It is not yet known whether LumiBit will introduce certain verification incentives, as LumiBit has not yet issued coins. If a large number of clients participate in LumiBit verification, it may be similar to BTC full nodes.

Based on Scroll technology, LumiBit can implement most of the previously mentioned technologies, including ZK-EVM and Halo, without any issues.

Abstract accounts are a technology that has already been implemented and is feasible.

As a system that supports smart contracts, LumiBit can read data from the BTC mainnet through smart contracts, naturally achieving cross-chain of encrypted assets to LumiBit. Real-time cross-chain communication and independent cross-chain transactions are achievable.

Overall, LumiBit's BTCLayer2 technical design has strong feasibility.

❖Necessity and Advantages Analysis❖

The use of encrypted ecosystems that record transactions using BTC transfer memos brings a new form of coin issuance. However, the encrypted form is difficult to support an efficient and diversified decentralized application ecosystem.

The primary function of the Lightning Network is payment, not application ecosystems.

The security of executing smart contracts on clients using the RGB protocol is controversial.

Stacks uses the Clarity programming language to implement a smart contract ecosystem, which does not conform to the mainstream habits of blockchain developers or user operations.

LumiBit is committed to developing a BTCLayer2 network that is compatible with EVM and uses zero-knowledge proofs, which is of practical significance.

The advantages of LumiBit are:

First, it can develop application ecosystems on BTC's Layer2, compressing large transaction data into short ZK proofs sent to the BTC mainnet. Layer2 significantly reduces the cost of applications while improving efficiency.

Second, it has 100% compatibility with EVM. General and customized circuit designs provide convenient and flexible conditions for developers. Existing EVM applications and users can quickly enter the BTC ecosystem.

Third, using Halo2 zero-knowledge proofs can balance security and efficiency.

Fourth, using the native BTC wallet to participate in the ecosystem, using BTC as GAS, provides users with a native BTC experience. This is one of #LumiBit's biggest features.

Fifth, LumiBit's network indexes BTC encrypted data through smart contracts, increasing the decentralization of the encrypted ecosystem. Independent cross-chain transactions allow encrypted assets to participate in decentralized applications in the LumiBit ecosystem, reducing transaction costs and improving transaction efficiency. In addition, the LumiBit network plans to establish nodes in multiple Lightning Network channels and multiple public chain ecosystems, thereby achieving a more inclusive BTC Layer2.

Overall, LumiBit adopts advanced Layer2 technology, has excellent compatibility with EVM, and uses BTC as GAS to participate in the BTC ecosystem in native BTC wallets, compatible with smart contracts, encrypted data, Lightning Network, and even multi-chain ecosystems, gradually completing the possibility of a native BTC large ecosystem. 

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