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GOAT Network: Innovator of the BTC Layer2 ecosystem Leading a new era of Bitcoin scaling
GOAT Network: A New Chapter in BTC Layer2 Solutions
As the Bitcoin ecosystem continues to evolve, the ecological development around BTC has become an important topic in the Web3 space. In this context, Layer 2 solutions built on BTC have become an indispensable key component.
Data shows that in the second quarter of 2024, BTC L2 related projects raised nearly 95 million USD, a month-on-month increase of 174%, reflecting the strong interest in BTC Layer 2 within the industry. Although there are currently many BTC Layer 2 solutions, there are no projects that are excellent enough in both technology and ecology; this sector is still in a highly competitive phase.
Among the many BTC Layer2 solutions, GOAT Network stands out for its innovation and potential. As the first BTC Layer2 project to adopt a decentralized sequencer and share network ownership, the ultimate goal of GOAT Network is to become a universal L2 for all L1s.
GOAT Network Overview
The GOAT Network expands the functionality of Bitcoin by implementing Bitcoin Rollup, with its network security derived from the underlying Bitcoin blockchain. The project introduces the optimistic challenge protocol GOAT-OCP and utilizes BitVM2 to ensure security, while adopting ZKM interwoven Rollup as a universal settlement layer to enhance the inclusivity and finality of transactions.
The GOAT Network testnet is set to launch soon, with the mainnet expected to go live in the third or fourth quarter of this year. The official team will introduce the GOAT Club rewards program, providing lasting value and fair, sustainable rewards for Bitcoin holders of various scales.
Addressing the Three Major Challenges Faced by L2
The GOAT Network has proposed the following solutions to the challenges of decentralization, security, and sustainable returns that L2 networks commonly face:
Decentralized Sequencer: GOAT will adopt a decentralized sequencer from the launch of the mainnet, initially having 7 sequencer nodes, each required to stake BTC to secure the network. Currently, 5 founding sequencer nodes have been confirmed, including well-known institutions and operators, committing over 5,000 BTC for liquidity at launch.
Security: On the first layer of Bitcoin, the GOAT Network applies an enhanced version of Bitcoin's time-lock and one-time signature technology to protect locked BTC assets. In Layer 2, the zero-knowledge virtual machine zkVM developed by ZKM is used to ensure that the system meets the native security standards of the Bitcoin base layer.
Sustainable Revenue Model: The decentralized sequencer can earn Gas fees in the form of BTC and mining rewards in the form of GOAT tokens by producing blocks, providing security, and remaining active around the clock. This mechanism offers various participants the opportunity to achieve sustainable revenue.
General Layer2 Vision
The goal of GOAT Network is to become a universal L2 for all L1s, with plans to integrate ecosystems such as Ethereum, TON, and Cosmos in the future. The project aims to address the issues of interoperability and decentralized liquidity in blockchain while avoiding the vulnerabilities of traditional third-party bridges.
By deploying internal Entangled Rollup technology on L1 and L2 of all blockchains, the GOAT Network achieves message passing and asset transfers across multiple different networks without relying on third-party bridges, ensuring smooth network liquidity and asset security.
Team Strength
The core team of GOAT Network consists of industry veterans.
The team members are all long-term participants and innovative leaders in the Web3 field, providing strong support for the project's credibility and future development.
Ecosystem Construction
The GOAT Network is building an organic ecosystem. A series of key DeFi applications will be launched simultaneously with the mainnet, including DEX, lending, Perp DEX, BRC-20, and a zero-fee trading platform for other Bitcoin-native assets.
GOAT Club Points Program
The GOAT Club points program offers early participants the opportunity to receive future airdrops. The program includes three types of points:
With the upcoming launch of the GOAT Network mainnet, the industry is filled with expectations about whether it can become the leader of BTC Layer2. The GOAT Network is expected to bring more practical scenarios and earning opportunities for BTC holders, injecting new vitality into the Bitcoin ecosystem.