March 2, 2024

BEVM fully complies with the three principles of BTC L2 design explained by Bitcoin Magazine

On February 21, 2024, the renowned Bitcoin community magazine, Bitcoin Magazine, published an article outlining the three fundamental principles of Bitcoin Layer 2 (L2) design. Furthermore, the magazine stated that only Bitcoin L2 solutions adhering to these principles would qualify for coverage in Bitcoin Magazine.

As one of the earliest and most authoritative magazines within the Bitcoin community, Bitcoin Magazine has always maintained an objective and professional stance in reporting significant events and technological innovations in the Bitcoin ecosystem. Notably, Ethereum's founder, Vitalik, was a contributor to Bitcoin Magazine during his early involvement in the Bitcoin community. The publication's discussion on Bitcoin L2 design principles not only highlights the Western Bitcoin community's interest in Bitcoin L2 but also signifies the formal recognition of Bitcoin L2 as a new and important sector within the Bitcoin ecosystem.

The BEVM community carefully reviewed the Bitcoin L2 design principles outlined by Bitcoin Magazine and compared them to BEVM's technical solution. The details are as follows:

Bitcoin Magazine's three principles for Bitcoin L2 design are:

Use Bitcoin as its native asset

L2 must fundamentally use Bitcoin as its main token or account unit, as well as the mechanism for paying system fees. If it has a token, it must be backed by Bitcoin.

The BEVM network uses Bitcoin as its native GAS, requiring all projects within the BEVM ecosystem to pay in Bitcoin to operate. Currently, BEVM has not issued a mainnet token. However, any future BEVM token plans will adopt the Bitcoin asset issuance protocol, meaning BEVM tokens will be based on Bitcoin.

Use Bitcoin as a settlement mechanism to enforce transactions

L2 users must have a mechanism (trusted or trustless) to exit the system, thus returning control of their funds to layer 1.

BEVM is built on Bitcoin's native technologies such as Schnorr signatures, MAST (Merkle Abstract Syntax Trees), and the Bitcoin light node network, allowing for trustlessness, bidirectional cross-chain capabilities between Bitcoin and BEVM. Consequently, BEVM users can trustlessly transfer Bitcoin in and out of the system. During cross-chain transactions, Bitcoin is always locked in a Taproot custodial address on the Bitcoin layer, allowing users to retrieve their assets at any time with their private key signatures. This ensures users always maintain control over their funds, with fund control remaining on the Bitcoin layer.

Demonstrate a functional dependence on Bitcoin

If Bitcoin experiences a critical failure and the related system continues to operate, our stance is that this system is not a Bitcoin layer 2.

All BEVM network block validators are Bitcoin light nodes. If the Bitcoin system were to fail, BEVM could not continue to operate normally, making it impossible for BEVM to exist independently from Bitcoin. BEVM is a true second-layer network that relies entirely on Bitcoin.

In summary, the BEVM network uses Bitcoin as its native GAS, and the bidirectional cross-chain capability between Bitcoin and BEVM ensures complete trustlessness, with asset control remaining at the Bitcoin layer and in the hands of the users. Furthermore, BEVM's network validators are Bitcoin light nodes, meaning if Bitcoin were to experience a failure, BEVM could not function independently. Therefore, BEVM fully complies with the Bitcoin L2 design principles outlined by Bitcoin Magazine, making it a legitimate Bitcoin L2 solution.