BOB
BOB is a Hybrid L2 combining Bitcoin's security with Ethereum's DeFi innovation.
What is BOB?
BOB is a new type of Bitcoin-secured blockchain: a Hybrid L2. Hybrid L2s inherit security from Bitcoin, as the most secure and decentralized network.
With BOB’s Hybrid L2 design we strive to completely change the way BTC is used in finance.
- Today: deposit BTC into centralized exchanges or wrap to a dozen of other chains via multisig bridges.
- The Hybrid future: Everyone deposits assets into a BTC-secured platform that has access to native BTC liquidity… because everyone is OK to trust Bitcoin.
Bitcoin Security
Security is key to unlock Bitcoin liquidity in DeFi. The BOB Hybrid L2 in its final form will inherit Bitcoin security and support trust-minimized BTC deposits and withdrawals. While native ZK verification on Bitcoin requires a fork, BitVM allows us to create optimistic rollups and bridges with the tools we have today. Unlike multisig bridges and federated sidechains (t-of-n = honest majority), BitVM remains secure even with just a single honest node (1-of-n). For more details, see the BitVM2 paper co-authored by researchers from ZeroSync, BOB, TU Vienna and others.
Ethereum Liquidity
Network effects, liquidity, and accessibility are key to a successful DeFi ecosystem. This Ethereum’s super power.To harness the best of both worlds, BOB will run a trust-minimized Ethereum bridge, providing ETH users with a seamless DeFi experience. This "Hybrid" bridge functions like ETH L2 optimistic bridges but is uniquely powered by Bitcoin finality. An ETH L2 bridge waits for L2 finality on Ethereum. The Hybrid bridge instead checks for Bitcoin finality. In simple terms: ETH and ERC-20s deposited to BOB are secured by Bitcoin.
Learn more in the BOB: The Hybrid L2 whitepaper.