ZKEVM: EVM on Bitcoin
Zulu wants to move Bitcoin forward, contributing meaningfully to the Bitcoin ecosystem, the Zero Knowledge field, and Blockchain technology.
Last updated
Zulu wants to move Bitcoin forward, contributing meaningfully to the Bitcoin ecosystem, the Zero Knowledge field, and Blockchain technology.
Last updated
The Ethereum Virtual Machine (EVM) offers many advantages when used as secondary execution layer for Bitcoin.
It implies that assets on the Bitcoin Network can be employed for applications akin to those within the Ethereum ecosystem.
Furthermore, Ethereum's technology stack has undergone extensive testing, ensuring high stability and security. In the context of assets, security stands out as a crucial attribute.
However, the narrative logic of this approach has limitations, as users have the option to directly transfer assets from Bitcoin to the Ethereum ecosystem to engage with various applications.
Presently, a ZK cross-chain bridge facilitates the connection between the Bitcoin and Ethereum networks.
While has expanded the narratives around the Bitcoin ecosystem, it's important to note that the blockchain industry demands innovation, and not mere replication. Transplanting the EVM to the second layer of Bitcoin may not be enough to open up the Bitcoin Network, as it is deterministic and has already been demonstrated on Ethereum. The emergence of the Ordinal protocol signals a trend of actively seeking innovation on Bitcoin.
As a ZK Bitcoin solution, Zulu needs to facilitate the swift integration of new assets and more mature DeFi applications into the Bitcoin Network, through the EVM Liquidity Layer.
Simultaneously, we must create a platform that fosters developer innovation, preserving the UTXO model of Bitcoin and expanding its capabilities to write smart contracts. This expansion should be compatible with the Account type (addresses used on Ethereum), through the UTXO Innovation Layer.
Both UTXO (used on BTC) and Account (used on ETH) models have distinct advantages and disadvantages. Combining these two types opens significant innovation possibilities for developers.
Taking the Ordinals protocol as an illustration, Indexer rules can be directly articulated in smart contract language, resulting in open and transparent regulations.
Initiatives like the project (public chain), the project (Ethereum L2), (Ethereum L2), and (Bitcoin L2) represent endeavors to blend UTXO and Account types, creating a hybrid asset platform.
These innovations will introduce novel use cases in the industry, combining Bitcoin’s battle-tested accounts with more user-friendly Ethereum-inspired accounts.