Press Release– On May 20, 2024, the Bitcoin Layer2 development teamreleased the technical yellow paper titled"Taproot Consensus: A Decentralized BTC Layer2 Solution." This paper details the implementation of Taproot Consensus, leveraging native Bitcoin technologies such as Schnorr signatures, MAST, and Bitcoin SPV nodes to build a fully decentralized BTC Layer2 solution.
The Taproot Consensus solution by BEVM builds on these advancements, combining Schnorr signatures and MAST to manage multi-signature addresses and enable complex business scenarios in Bitcoin Layer2.The yellow paper begins by highlighting Bitcoin's non-Turing complete nature and limited functionality for smart contracts. It argues for using Bitcoin's existing capabilities to build a decentralized Layer2 solution rather than modifying Bitcoin Layer1.
In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The aggregated public key forms a MAST tree, enabling BTC transfers and inscriptions to the threshold signature address. Validators act as Bitcoin SPV light nodes, synchronizing the BTC network state securely and permissionlessly. Aura+Grandpa ensures the Layer2 network's security and trustworthiness, with assets managed by BFT consensus.
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