How thousands of nodes using Multi-Signatures can open up the future of BTC restaking

If the main themes of the previous two cycles were DeFi and NFTs, then the keyword for the current cycle is undoubtedly the Bitcoin ecosystem.

Many Bitcoin Layer 2 projects are reluctant to discuss the security issues of Bitcoin Layer 2 staked funds and even deliberately conceal their own centralized security risks. However, the security of Bitcoin Layer 2 is a crucial topic; have we already forgotten the collapses of Luna, Three Arrow, and FTX in 2022? For Bitcoin Layer 2 projects themselves, security is a key factor that determines the life and death of the project.

In practical implementation, Mirror groups nodes at the Multi-Signature Groups level. Each group consists of any 5 nodes, and 3 out of these 5 can control the inflow and outflow of assets through multi-signature. Each node is also required to stake 1 mBTC as a penalty for misconduct. With its innovative algorithm and meticulous design, the Mirror Protocol offers a new mechanism for staking and security assurance for PoS L1/L2 projects. This not only helps to expand Bitcoin’s application scenarios but also optimizes staking rate, security, and decentralization by having the staked assets co-managed by thousands of nodes.

Currently, the Mirror Staking Protocol has attracted over 200 KOLs and more than 50 project institutions to run for election on social media platforms like X in less than three weeks. Moreover, the election has garnered participation from over 50,000 independent addresses, with a total of over 3 million votes cast.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Cash & Bitcoin SV Pumping as Bitcoin Minetrix Nears Exchange ListingCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Did Bitcoin (BTC) Advocate Samson Mow Shift Capital to Gold?Samson Mow has joked about partly diversifying his portfolio from Bitcoin (BTC) to Gold
Source: Utoday_en - 🏆 295. / 63 Read more »

Bitcoin delays pullback amid speculation that Morgan Stanley will approve BTC ETFs on its platformBitcoin (BTC) price continues to ride on the ETF theme ahead of the halving.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Bitcoin absorbs $100M+ ‘sell-side days’ as bears lose BTC price cloutBTC price drawdowns have not even hit 20% this cycle as Bitcoin buyers absorb huge outflows.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Bitcoin suddenly erases April dip as BTC price jumps 5% above $69KBitcoin cancels its April BTC price dip as bulls add $4,000 in a matter of hours.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Bitcoin Weekly Forecast: Short-term holders add 1.12 million BTC, what does this mean?Bitcoin (BTC) price action for the past three weeks has been confusing for sidelined participants.
Source: FXStreetNews - 🏆 14. / 72 Read more »