⚡
BitBolt
  • 📚Background
  • ⚡What is BitBolt
  • 🔥Why BitBolt
  • 🪄How BitBolt Layer 2 works
    • 🏗️Tech Overview
    • 🌎Basic Information
    • 🕎Three Types of Nodes
    • 🔄Interaction with the Bitcoin Network
    • 👨‍💻Smart Contract
    • 🔑Wallet
  • 📖Thunder Testnet Instructions
    • Deposit
    • Transfer
    • Withdraw
  • ✨Future Possibilities
  • 💵Tokenomics
  • 🌕IDO Participation Instructions
  • 🚀IDO Info
  • 🗓️Roadmap
  • ⚠️Disclamer
  • 🔗Links
Powered by GitBook
On this page

Background

NextWhat is BitBolt

Last updated 1 year ago

The Bitcoin network operates on a decentralized consensus mechanism known as Proof-of-Work (PoW). However, this framework often necessitates a substantial amount of time to reach finality and consensus on transactions. As a result, markets that directly trade on the Bitcoin network can become vulnerable to Double Spending Attacks. This vulnerability, in turn, applies intense pressure on the Bitcoin network.

Moreover, since Bitcoin represents the most decentralized and consensus-focused network, its block space carries considerable value.

As a potential solution, the issuance of assets on the Bitcoin network and their trading on Bitcoin Layer 2 can effectively mitigate network congestion. This approach is perceived as the future trajectory for BRC20 and Ordinals NFT developments.

📚