Crypto Twitter’s Mixed Reactions to a New Bitcoin Aggregation Solution
A scalability solution unique to Ethereum is now compatible with Bitcoin. Rollkit allows the storage of digest information developed for Ethereum, but on the Bitcoin network.
According to an official statement, Rollkit – a modular framework for rollups – was launched on March 5, 2023. The solution can, at least in theory, help optimize the use of free space on the Bitcoin blocks, expanding the capabilities of the network:
Sovereign rollups on Bitcoin not only expand the possibilities of rollups, but also have the potential to help start up a healthy blockspace fee market on Bitcoin, enabling a more sustainable security budget
A digest is basically a way of compressing or grouping a number of transactions into a single one, which increases privacy and makes the network more efficient.
Expanded opportunities on Bitcoin
Rollkit supports various execution layers, including the Ethereum Virtual Machine and Cosmos’ CosmWasm. Each blockchain has an architecture made of different layers that support a variety of properties. The execution layer is part of the application layer. Smart contracts, protocols, dApps, etc. are part of this layer.
The team shared a YouTube video showing how a Rollkit digest that uses Ethermint for execution can use Bitcoin as its data availability layer.
If the application layer is the more sophisticated layer in the blockchain, the data layer is the most basic – it is basically the order of the blocks in a blockchain that guarantees that nodes work in synergy, and know what is happening in the network. The data availability layer guarantees that all nodes handle the same transaction data.
To achieve this, Rollkit relies heavily on Taproot and Ordinals. Taproot is a hard fork that increased the privacy and functionality of the Bitcoin network, paving the way for future developments such as Ordinals, which are equivalent to non-fungible tokens (NFTs) that store data on the Bitcoin network in hexadecimal format.
According to the Rollkit team, this integration makes it possible to “run the Ethereum Virtual Machine (EVM) on Bitcoin as a superb Rollkit rollup.” According to the developers, these have the potential to expand the possibilities of these second-tier solutions, as well as helping to create a healthy fee market on Bitcoin.
Crypto Twitter reacts
The news was received with mixed reactions from Bitcoin enthusiasts. Some praised the development for its ability to bring something new to the industry, although such enthusiasm comes with its own caveats.
Others criticized the technology. Some BTC users believe that the Bitcoin network should be used for financial transactions and nothing else. Using the network for other purposes can be detrimental to users as they have to compete for the limited space of each block.
