Interlay, a leader in decentralized Bitcoin infrastructure, has released the MVP of BOB (“Build on Bitcoin”) – a new Bitcoin layer 2 network. It features Rust smart contracts compatible with Bitcoin libraries such as Lightning and Ordinals, as well as full support of the Ethereum Virtual Machine. The first MVP of BOB includes a demo application implementing the Bitcoin standard BRC-21 to trustlessly bridge tokens from other chains to Bitcoin, such as ETH, DAI and USDC.The launch of BOB follows the new Bitcoin DeFi platform, released only a month ago. The goal of BOB is to enable builders to create decentralized applications and innovate on top of Bitcoin’s existing stack, including Lightning, Ordinals and Nostr. This will allow teams to create trustless BTC, Ordinals and BRC swaps, as well as other BTC primitives such as hashrate markets.The full-release schedule will introduce interoperability with Ethereum, a novel Bitcoin peg mechanism improving on top of Interlay’s trustless BTC bridge, and Bitcoin rollup mechanics. ZK rollups are currently the best bet for such architecture, however BOB is being built to support whatever cryptographic primitives find their way into Bitcoin.Interlay exists to accelerate Bitcoin mass adoption by building the necessary, trust-free infrastructure and products. The team has been contributing to Bitcoin, blockchain security, DeFi and stablecoin research since 2015, designed and built the first trustless BTC bridge and decentralized Bitcoin DeFi platform.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	9
People	Dominik Harz, Alexei Zamyatin
Companies	Ethereum, Interlay, BRC-21, DAI, USDC
Currencies	Ethereum, Bracelet, Bitcoin, USD Coin, Dai
Securities	None