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Title: The Inevitable Ascendance of Bitcoin Layer2 Over Ethereum Layer2
Introduction:
The Bitcoin ecosystem is not built on Layer1; the Bitcoin blockchain is naturally non-Turing complete, and its simple UTXO design and limited block space cannot handle complex data and computations. To foster ecosystem development, Bitcoin needs Layer2, specifically a fully decentralized Bitcoin Layer2. Despite major upgrades over the past 15 years, Bitcoin's potential for a fully decentralized Layer2 supporting large-scale applications has been underestimated, leading to misconceptions and biases in the Bitcoin ecosystem.
The primary obstacle to progress is arrogance and bias. This article urges readers to set aside arrogance, adopt a humble learning attitude, and correct their understanding. The purpose is to clarify and advocate for the legitimacy of decentralized Bitcoin Layer2.
Body:
I. What is Layer2? What is the essence of Layer2?
The concept of Layer2 is widely known due to the Ethereum ecosystem, but it originated from Bitcoin. The early Bitcoin 0.1 version code, preserved by Satoshi Nakamoto, supported users in updating transactions before miners confirmed them. This concept laid the foundation for the Lightning Network, Bitcoin's earliest and feasible Layer2 solution.
When discussing Layer2, it is crucial not to focus solely on Ethereum Layer2. Instead, understanding the essence of Layer2 is key. Whether Bitcoin or Ethereum Layer2, both aim to move Layer1 assets to Layer2 to achieve more complex and high-performance applications. Thus, the essence of Layer2 is a decentralized cross-chain solution combined with a high-performance and trustless second-layer network.
II. Design Differences Between Bitcoin Layer2 and Ethereum Layer2:
1. Achieving Trustless Cross-Chain Asset Movement:
- Ethereum Layer1 to Layer2: Ethereum achieves cross-chain by deploying a smart contract managing custody of assets. The smart contract locks ETH on the Ethereum mainnet, generating new ETH in a 1:1 ratio on Layer2. Cross-chain involves unlocking Layer2 ETH, triggering the smart contract on Layer1 to release ETH back to the user.
- Bitcoin Layer2: With the Taproot upgrade, Bitcoin introduced Mast contracts and Schnorr signatures, enabling fully decentralized BTC cross-chain. Schnorr signatures facilitate aggregated signing by multiple Bitcoin addresses, overcoming the previous limitations. Mast contracts, using Merkle Abstract Syntax Trees, encrypt complex locking scripts, enhancing security.
2. Security and Trustworthiness of Layer2 Ledger:
- Ethereum Layer2: Utilizes an optimistic rollup (Op-Roullp) mechanism, where Layer2's sorted ledger is periodically packed and uploaded to the Ethereum mainnet for verification by Ethereum nodes. This design introduces a trust assumption, relying on optimism and a 7-day challenge period for off-chain disputes.
- Bitcoin Layer2: BEVM (Bitcoin Execution Virtual Machine), as an example, ensures trustworthiness through a decentralized network of 1000 Bitcoin light nodes, relying on economic and game-theoretical incentives. A dynamic staking mechanism safeguards against malicious behavior, ensuring the security of the Layer2 ledger.
III. The Correct Path for Bitcoin Layer2:
To ensure the success of Bitcoin Layer2, several principles must be followed:
1. Recognize Bitcoin's non-Turing complete nature and the need for Layer2 for complex applications.
2. Address the challenge of decentralized Bitcoin cross-chain to Layer2, leveraging technologies like Mast contracts and Schnorr signatures.
3. Avoid replicating Ethereum Layer2's Op-Roullp mechanism for compressing Layer2 ledgers on the Bitcoin blockchain, as Bitcoin does not support OP or ZKP verification. Instead, focus on economic and game-theoretical models for dynamic staking to guarantee Layer2 ledger security.
4. Anticipate future Bitcoin upgrades, potentially allowing OP or ZKP verification, paving the way for more advanced Layer2 solutions.
IV. Why Bitcoin Layer2 Will Surpass Ethereum Layer2:
1. Fully decentralized Bitcoin Layer2 solutions already exist, enabling significant market growth.
2. Bitcoin, due to its non-Turing complete nature, requires Layer2 more than Ethereum, resulting in an influx of BTC to Layer2 for diverse decentralized BTC applications.
3. Bitcoin Layer2 offers enhanced resistance to censorship, gaining trust and preference, especially from large capital holders.
4. The sheer size and rigid development demands of the Bitcoin ecosystem ensure its Layer2 will surpass Ethereum Layer2.
Conclusion:
By understanding the essence of Layer2, differentiating between Bitcoin and Ethereum Layer2 designs, and recognizing Bitcoin's unique challenges and requirements, a clear path for Bitcoin Layer2's success emerges. The advanced features of Bitcoin Layer2, coupled with the innate demand for a robust Bitcoin ecosystem, position it to surpass Ethereum Layer2 in the foreseeable future. |
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Post time 17-12-2023 13:56:02