ZK on Bitcoin? 🤯 @0x_orkun from @citrea_xyz unveils Citrea's ZK Rollup, unlocking Bitcoin's programmability for the first time! 🚀 Curious how this changes crypto? Learn how it boosts scalability and functionality. Full episode drops soon, click 'Show More' for a sneak peek!
Transcript:
Block By Block
Maybe I could give you a maybe I could just tease that up a little bit. So you've described Citrea as Bitcoin's first ZK roll up. So for listeners who aren't tech experts, how would you explain in simple terms what that means and why making Bitcoin more programmable is important or a big deal?
Orkun Kilic | Citrea
Yeah, the ZK rollup is basically how we make Bitcoin programmable. But in ideal world, it's not the important piece, but currently it's important because so far people think Bitcoin is a very limited blockchain where you can only send and receive Bitcoin and that's the whole function, right? That caused some issues. The mainly the lack of scalability around this payments and customer's ability led to use of custodians.
In the last cycle we saw BlockFi, Celsius and others basically that you can deposit your Bitcoin, it's very easy to use but you don't actually own the Bitcoin in that platforms. That was the one weakness of Bitcoin and the second is people wanted to use their Bitcoin in DeFi and then they have to move their Bitcoin over Ethereum which still uses custodians like Wrapped Bitcoin, like TBTC, right? They use Bitgo, so they actually trust another company to hold their Bitcoin which still involves the trust.
But over these years, like the last 10 years, show us that people actually want to use their Bitcoin. Buy and hold is one strategy. But even if holding on Bitcoin is really hard, have you ever used like a Bitcoin wallet? It's really painful to use those wallets. And then we realized, okay, what if we can actually make Bitcoin more usable? That is tied to be making Bitcoin more programmable, because if you are making it programmable, then you can have account abstraction, like very easy to use smart contract accounts.
Spending limits, social recovery, those kind of stuff can be added on top. And then we started researching ways around how to make Bitcoin programmable. And basically a Zero Knowledge rollup is the best way of doing it because it doesn't involve any trust assumption rather than the math. ZK basically allows us to mathematically prove that something happened on Citrea and then verify that results on Bitcoin, which means
If you are already trusting Bitcoin, which means if you have a Bitcoin node, then this doesn't include any other trust assumption. It's just pure math that you are doing and then Bitcoin becomes programmable without changing Bitcoin, without introducing more complexities. We just built the system. You transact on top, you do DeFi on top, you hold your Bitcoin there, you have very advanced social recovery and other features and everything you do is actually getting verified on Bitcoin.
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