Rollkit
Basics
- Based in:
- Started in / Announced on: their "Sovereign Rollups on BTC" on 5-3-2023.
- Testnet release:
- Mainnet release:
History
Audits & Exploits
- Bug bounty program can be found [insert here].
Bugs/Exploits
Governance
Admin Keys
DAO
Notable Governance Votes
Treasury
Token
Launch
Token Allocation
Utility
Other Details
Coin Distribution
Technology
- Whitepaper or docs can be found [insert here].
- Code can be viewed [insert here].
- Consensus mechanism:
- Algorithm:
- Virtual Machine:
- Development language used:
Transaction Details
How it works
"According to Rollkit, its new rollup solution lets users produce rollups by retrieving and storing data on the Bitcoin blockchain. It was inspired by Ordinals, the Bitcoin NFT protocol which showed developers that—using Taproot—users could post arbitrary data to the blockchain. In the traditional sense, rollups are batches of transactions that are “rolled up” off chain into one transaction, and then posted to Ethereum as a single on-chain transaction. This helps free up blockspace and lower transaction costs on the network, while still inheriting the settlement assurances of the base chain.
A sovereign rollup is one that does not need a smart contract or use a settlement layer for validation—scalable and secure and with the "sovereignty" of a layer 1. Ryan Berckmans said on Twitter that the sovereign rollup “is actually an alt L1 that stores its block data on Bitcoin.” According to Alexei Zamyatin, founder of the Bitcoin DeFi protocol Interlay, sovereign rollups as proposed by Rollkit inherit “nothing” of Bitcoin’s security".
- From Bitcoin.com (7-3-2023):
"To make this possible, the Rollkit team used Taproot transactions to read and write data on Bitcoin and created the “bitcoin-da” package to provide the necessary interface. They also implemented the “SubmitBlock” and “RetrieveBlocks” functions for Rollkit to interact with Bitcoin."
Fees
Upgrades
Staking
Validator Stats
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
Their Other Projects
Roadmap
- Can be found [Insert link here].
Revenue
Usage
Projects that use or built on it
Competition
"Some are likening sovereign rollups to Stacks, a high functionality layer 1 protocol that settles its blocks on the Bitcoin blockchain for security purposes. Stacks co-founder Muneeb Ali said on Twitter that this is an apt comparison, but noted some key differences.
On one hand, it takes 150 Stacks blocks before a transaction reaches ”Bitcoin finality” on Stacks, but only 1 with sovereign rollups. On the other, Stacks blocks publish their data to Bitcoin in an efficient manner by merely hashing the data on-chain, whereas sovereign rollups publishes the full data.
“The technically challenging part for both the Stacks layer and sovereign rollups is moving BTC in and out of the layer, said Ali. “The decentralized BTC peg is the most important part.”"
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- Full team can be found [here].
Funding
Partners
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