详解 B² Network：How to expand the Bitcoin ecosystem?

Author: Rocky

 

Bitcoin, with a market value of 13 trillion, most of which cannot directly generate benefits, contains opportunities waiting to be explored. The TVL of ETH L2 exceeds 10% of Ethereum's market value, indicating a huge market space for BTC L2! Today, we want to introduce the B² Network, which uses ZK as its core technology, has strong partners and financing background, and is expected to become one of the most feasible Bitcoin L2 solutions. There are also upcoming activities like B² Hive and B² Buzz where rewards can be obtained!

The original intention of Bitcoin's design was to maximize security and decentralization, but it sacrificed scalability, making it unable to execute smart contracts. As the user base expands, issues such as network congestion, transaction delays, and soaring transaction fees in the Bitcoin network have become difficult to resolve. Additionally, with reduced economic benefits for miners after halving, the Bitcoin network urgently needs ecological empowerment, rich on-chain activities to maintain the stability of the number of miners and network security, leading to a huge demand for BTC L2.

B² Network is a leading Layer 2 project on BTC, utilizing EVM-compatible ZK Rollup. Rollup data and ZK proof verification commitments are recorded on the BTC network and ultimately confirmed through a challenge-response mechanism. The project adopts a modular design architecture, including the Rollup layer and Data Availability (DA) layer, namely B² Hub. The Rollup layer is responsible for submitting and processing user transactions, while the DA layer is responsible for storing copies of aggregated data and verifying aggregated zk proofs.

B²'s Rollup requires verification of state transitions and data availability storage through B² Hub, generating commitments before submitting to the Bitcoin network. Therefore, the security and decentralization of B² Hub are crucial. B² Network has chosen a PoS mechanism to protect B² Hub. To ensure the security of the consensus mechanism, BTC Stak has also been introduced. Furthermore, developers are working on the LSD/LRT project based on B² PoS to release liquidity and integrate with other DApps.

Advantages of B² Network include:

① Designing B² Hub to unify the submission of data availability and state transition proofs to the Bitcoin network without affecting Bitcoin's own proof operation, preventing adverse effects of 2nd layer extensions on Bitcoin;

② Providing an off-chain transaction platform that supports Turing-complete smart contracts to improve transaction efficiency and reduce costs;

③ Ensuring transaction privacy and security through zero-knowledge proof technology.

Ecosystem

B² Network's partners are top projects and are continuously expanding their ecosystem. It ensures security through Babylon's staking and timestamp protocol, effectively avoiding remote attacks. It recently announced a partnership with Polygon Labs to build the first integrated Polygon CDK BTC use case, allowing developers to choose the "Polygon CDK + B² Hub" combination to launch their own BTC rollup in the future!

Financing

In January 25th of this year, B² Network received seed round financing from renowned investment institutions such as @HashKey_Capital, @OKX_Ventures, @IDG Capital, @ABCDE Labs, @waterdripfund.

B² Network launched its mainnet on April 17th, allowing users to obtain early B² tokens at low cost through participating in B² Hive, B² Buzz, and B² Discovery activities, which will be introduced one by one.

Before starting, we need to bridge BTC assets to the B² mainnet. After entering the website, connect your OKX or Unisat wallet, enter the amount of BTC to bridge, and click "Deposit Funds".

Link: https://bsquared.network/bridge/

1. B² Hive:

B² Hive is a key component of B² PoS, where users can protect the B² network by staking BTC. In return, users can receive B² token rewards. After Babylon BTC Stake mainnet goes live, B² users can also receive rewards from Babylon.

Staking rewards started on May 3rd at 4 am UTC, with the allocation rule as follows:

① A block is generated every 2 seconds, producing $B2 worth 0.3375 USD per block, distributed according to the stakers' proportion. The total supply of $B² is 210 million.

② Users can stake and unstake at their discretion. Unstaking only requires 24 hours.

③ The minimum staking amount is 0.001 BTC, with more asset types to be supported for staking.

The staking process is simple. Firstly, bridge the Bitcoin from the BTC wallet to the B² mainnet. After entering the staking website, connect your wallet, enter the token amount to stake, and click "Stake". To unstake, enter the unstaking amount in the "withdrawal" section as shown, then click "Unstake".

Staking website: https://hive.bsquared.network

Audit report website: http://scalebit.xyz/reports/B% C2% B2--Stake-Final-Audit-Report.pdf

 

2. B² Buzz

B² Buzz covers activities related to assets and on-chain events, including but not limited to bridge lottery, Runes Fest, staking alliance, and the extensive Bitcoin network. It explicitly states that 30% of the tokens will be distributed through B u

zz distributes to users, with bridge activities accounting for 0.5%. Starting from April 30th, B uzz assets support bridging to EVM-compatible chains, and the bridging function for Bitcoin is also about to be opened!

To participate in B uzz activities, simply enter the website, connect your wallet, enter the invitation code, and follow @ B SquaredNetwork. Enter the interface, input the amount of tokens you want to bridge to B ² Network, and click "Bridge". To maximize profits, we need mining components. Now, through the OKX wallet, we can directly trade B ² B uzz mining NFTs.

Interactive website: https://buzz.bsquared.network/?code=mznxf

Mining machine trading: https://okx.com/web3/marketplace/nft/collection/bsquared/buzz-mining-rigs

Three, B ² Discovery

B ² Network has released the "B ² Mainnet Discovery and Bitcoin Halving Commemorative Activities," which include a series of exploration activities. Currently, there are two ongoing activities where you can receive airdrop rewards by completing the corresponding tasks!

B ² Discovery website: https://bsquared.network/discovery/

Okapi activity website: https://app.okapi.xyz/discovery/campaign/b-ecosystem-discovery

UXLink activity website: https://dapp.uxlink.io/discover/detail?id=1779158074653667348

① Okapi activity: After entering the activity website and connecting your wallet, write a comment for B ² Network to create an Okapi Vault. Then, return to the main interface, select Okapi Drops, and choose B ² Network.

Participate in other activities within the platform to receive additional rewards.

② UXLink activity:

In order to seamlessly onboard more web2 users into web3, B ² Network and UXLink have launched this activity. After entering the website, follow the instructions to connect your wallet, follow and retweet to complete the task, then click on "UXLINK NFT" in the upper right corner to mint NFTs. You will receive triple airdrop rewards from UXLink, B ² Network, and LayerCraft!

Summary: B² Network uses clever modular architecture design and greatly expands the scalability of the BTC ecosystem by using zk rollup and B² Hub while ensuring security! It is backed by well-known institutions and cooperates with top projects, making B² one of the most feasible Bitcoin L2 solutions. For users, there are various activities available to acquire B² tokens at a relatively low cost, making it worth considering early deployment!