Bitcoin & Beyond is an educational series from the team at The collapse targeting a new and emerging class of builders in the Bitcoin ecosystem. Through rooms, panels and interactive presentations, the aim is to provide in-depth technical insights into innovative scale projects.
In our latest feature for Bitcoin & Beyond, we explore BOB, a new, hybrid, layered solution that aims to combine the robust security of Bitcoin with the agility of Ethereum. We spoke with Dom, co-founder of BOB, to understand BOB’s phased development approach and their new merged-mining protocol, Optimine.
Reinvigorating innovation in Bitcoin through Layer 2 solutions
From the start, Dom was clear that BOB’s primary motivation was “to make it a lot easier for people to build on Bitcoin.” He highlighted the huge opportunity for Bitcoin to become as easily programmable as Ethereum, while maintaining the robust security it is known for.
Like many others, he reiterated his appreciation for this wave of innovation currently driving the Bitcoin ecosystem. “There are now so many new projects that share the same vision. And we think it’s really worth it to bring all that innovation to Bitcoin.”
The BOB team highlighted three aspects that they believe are essential for the success of new layer 2 solutions:
1. A security and economic alignment with Bitcoin
2. Infrastructure so the developer ecosystem can thrive
3. Liquidity to get new projects off the ground
“It’s about creating a network where liquidity and users can move seamlessly between projects, increasing the overall vibrancy of the platform.”
Dom also elaborated on BOB’s market positioning: “Our approach is quite unique: we are the only ones focused on creating what we call a hybrid L2.”
BOB’s rollup solution is designed to be secured by Bitcoin while simultaneously integrating into the Bitcoin stack via lightweight clients. At the same time, it also functions as a package on Ethereum to facilitate ease of use for those within the Ethereum community. “Many people are used to making the switch from Ethereum to platforms like Arbitrum, Bays or Optimism,” said Dom. This prominence makes BOB an attractive platform for users and developers from the Ethereum space, allowing them to leverage their existing knowledge and tools seamlessly.
Currently built on the OP Stack, the team’s focus thus far has been on making the user and developer experience for Ethereum as native as possible to reduce friction for new participants. Dom also clarified that there are currently no minimized trust bridges available to move Bitcoin to the platform.
The BOB roadmap
BOB plans to roll out its protocol in a series of strategic phases designed to incrementally improve the platform’s capabilities:
Phase one: startup
This first phase, launched on May 1, focuses on setting up BOB as an optimistic Ethereum roll-up using the OP stack, without any Bitcoin security features integrated yet.
Phase Two: Integrate Bitcoin Proof of Work Security
The next step involves transferring BOB to incorporate Bitcoin’s proof of work security using Optimine, a merge mining protocol designed to strengthen the system’s security.
Phase Three: Transition to Bitcoin Rollup
This phase aims to shift the platform from an Ethereum-based to a Bitcoin-based roll-up, depending on the advancement of new technologies such as BitVM and other tamper-resistant systems.
Phase Four: Implementation of Zero-Knowledge Proofs
The final phase expects the integration of zero-knowledge proofs, pending the possible adoption of the technology by Bitcoin. This would significantly improve privacy and transaction efficiency.
Develop OptiMine
The team’s current focus is on introducing ‘Optimistically Sequenced Merged Mining’, a new technique that initiates the process of integrating Bitcoin security into BOB. Dom explains: “OptiMine extends traditional merged mining by separating block production from proof-of-work completion.” He states that this will enable the protocol to achieve fast transaction processing while ensuring the integrity typical of Bitcoin.
How OptiMine improves safety and efficiency
- Optimistic block production: Blocks are optimistically produced by sequencers every two seconds, ensuring the high throughput that developers from the Ethereum space are accustomed to. OptiMine improves the speed of transaction finality, which is crucial for the user experience. “Compared to traditional merged mining methods, OptiMine provides faster finality, improving overall system efficiency,” Dom added.
- Bitcoin secured rounding: In OptiMine, Bitcoin miners validate the blocks produced by sequencers by embedding a reference hash of the BOB blocks into Bitcoin blocks, which are then added to the Bitcoin blockchain. This validation significantly reduces the harm that comes from relying on centralized sequencers.
- Reorganize resistance: By separating block production from proof-of-work, Optimine avoids the risk of a miner attacking the chain to rewrite its history.
- Aggregated mining efficiency: OptiMine leverages Bitcoin’s existing mining infrastructure to secure BOB’s rollups without additional energy costs.
With the introduction of OptiMine and the strategic rollout of its development phases, BOB’s mission is to unite two ecosystems to create a versatile platform that leverages the strengths of each other.
“We essentially want to be the platform between Bitcoin and Ethereum. And if you have Ethereum assets, they must have Ethereum security. If you bring in Bitcoin assets, they must have Bitcoin security and you must be able to use both on Bob.
Stay tuned to the Bitcoin & Beyond series for more insights and updates on BOB and other innovative projects shaping the future of the Bitcoin ecosystem.
This is a guest post from The Rollup. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
