BitcoinOS Sees 'Renaissance' for Litecoin With Its First Ever ZK Rollup – Decrypt

For years, Litecoin’s narrative because the digital silver to Bitcoin’s gold has seemed to be on the wane, with its worth down some 76% from its all-time excessive set greater than 4 years in the past.

However that doesn’t imply Litecoin has been forgotten. On the event of the Litecoin Summit, BitcoinOS has revealed that it is pioneering a trustless ZK rollup for Litecoin.

“Litecoin is likely one of the largest chains on the market with a large viewers,” Edan Yago, co-founder and core contributor to BitcoinOS, instructed Decrypt.  “I believe we’re about to see a renaissance.”

Their newest work with Litecoin, by way of LitVM, a Layer 2 protocol appropriate with the Ethereum Digital Machine, would allow native peer-to-peer transfers and stablecoin rails.

“Litecoin has confirmed to be an asset for nearly 14 years with no downtime. It is solely proper that by way of ZK tech, its strengths will now be accessible to different chains,” Charlie Lee, the chain’s creator, stated in an announcement shared with Decrypt.

For the primary time, Litecoin will profit from a zero-knowledge rollup (ZK rollup). The tech works by grouping many transactions collectively right into a single batch, saving house and dashing up transactions.

Launched utilizing BitcoinOS’s BitSNARK ZK verifier, the brand new rollup for Litecoin goals to unlock a brand new period for Litecoin by enabling trustless bridging and cross-chain transactions with Bitcoin and different blockchains like Cardano.

“It integrates Litecoin deeply with Bitcoin and Cardano,” and “reduces fragmentation” within the course of, Yago defined.

For finish customers, the mixing may assist them take advantage of out of the very best options of all three blockchains, Yago claimed.

“It makes use of the very best of all worlds: the safety of Bitcoin, the velocity of Litecoin, sensible contracts and DeFi from the remainder of crypto,” he stated, claiming that the mixing would end in “a unified ecosystem the place they’ve much less belief assumptions, the place there are not any bridges, and [where] they’ll put their BTC to work.”

Requested in regards to the integration’s long-term potential, Yago instructed Decrypt that whereas there was “this entire sensible contract chain world, with a brand new chain developing each single day,” that proliferation created “fragmentation and exhaustion with customers.”

With their newest work, Yago believes Litecoin may flip “right into a key hub” for the broader ecosystem.

Proof-of-concept

Earlier this month, BitcoinOS demonstrated a proof-of-concept the place it despatched Cardano to Bitcoin and again with out utilizing a cross-chain bridge.

However that demo got here in for criticism from some quarters, with Robert Roose, founding father of blockchain interoperability developer Mynth, accusing BitcoinOS of constructing “seemingly not possible” claims and evading responses to technical questions.

In a prolonged follow-up submit, BitcoinOS famous that the demo was, “not a whole manufacturing system,” and that, “Elements of the system weren’t fairly prepared and had been stubbed out.”

Decrypt has reached out to BitcoinOS and Roose for remark, and can replace this text ought to they reply.