As a researcher with a background in blockchain technology and a deep interest in Bitcoin, I am thrilled to witness the groundbreaking achievement of BitcoinOS verifying the first-ever zero-knowledge proof (ZK-proof) on the Bitcoin mainnet. This momentous milestone marks the beginning of an exciting new era for Bitcoin and the entire crypto market.
BitcoinOS, a protocol for trustless and compatible Bitcoin rollups, has achieved the first verification of a zero-knowledge proof (ZK-proof) on the Bitcoin mainnet. This significant achievement signifies a pivotal moment in cryptocurrency development, enabling unlimited scaling and additional functionality on Bitcoin without necessitating any soft fork.
BitcoinOS Verifies ZK-proof on Bitcoin Mainnet
BitcoinOS brought about a groundbreaking milestone in cryptocurrency development, allowing Bitcoin to be infinitely upgraded in a decentralized fashion without altering the core consensus rules. Consequently, this empowered developers to extend Bitcoin’s capabilities and scalability without relying on soft forks.
The team announced with certainty that they had authentically validated the inaugural zero-knowledge proof on Bitcoin’s primary network. This significant milestone was officially acknowledged in block number 853626. Furthermore, the team successfully managed both Bitcoin and Ordinals using a ZK-Bitcoin sophisticated contract.
“Edan Yago, a key contributor to BitcoinOS, stated that the current Bitcoin upgrade through BOS marks a groundbreaking moment as it’s the initial permissionless update without employing a soft fork. The need for Bitcoin Improvement Proposals to bring about changes like covenants to Bitcoin could be significantly minimized or even eradicated with BOS.”
The New Era Of Crypto Market
As a blockchain analyst, I can tell you that this significant advancement opens up new opportunities for developers to create on the bitcoin blockchain more effectively. This progression is crucial in achieving true decentralization. The functionality of bitcoin’s blockchain could potentially rival other cryptocurrencies like Solana. Moreover, this development may facilitate the return of the $1.1 trillion altcoin market to the bitcoin network.
The BitcoinOS team announces that the initial Zero- Knowledge Proof (ZKP) Ordinal in Bitcoin is expected to be released shortly by the developers. They have also created an explorer specifically designed for examining Bitcoin transactions utilizing Zero- Knowledge Proof technology.
At the Bitcoin Conference in Nashville, Tennessee, attendees will mark the beginning of a fresh chapter for Bitcoin. This highly-anticipated event is set to draw a large crowd of cryptocurrency authorities and devotees. The much-discussed highlight of the conference is Donald Trump’s speech.
In the previous 24 hours, the Bitcoin price decreased by approximately 2%, now hovering around the $64,000 mark. The minimum and maximum prices within this period were recorded at $63,833 and $67,113 respectively. Notably, there has been a slight uptick in trading volume over the last day.
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2024-07-25 10:35