BitcoinOS Platform Aims to Bring DeFi to Bitcoin

Blockchain developers have launched a new platform called BitcoinOS that aims to bring decentralised finance (DeFi) to the Bitcoin network. The platform uses "sovryn rollups" to create a foundational layer for decentralised applications (dapps) on Bitcoin, allowing developers to contribute and build new tools in any programming language, explains Edan Yago, a core BitcoinOS contributor. rollups use Bitcoin as the data availability layer, unlike ZK rollups, which rely on smart contracts on the mother chain. Since Bitcoin does not have smart contracts, ZK Rollups are not possible on the network.

Bitcoin's main blockchain is known to be slow and expensive during periods of high activity and has limited programming language options. Existing technologies such as sidechains enable faster transactions but require users to trust centralised federated bridges and suffer from liquidity silos.BitcoinOS claims to offer scalability, programmability, interoperability, and a near-trustless security model with minimal trade-offs. According to a press release from Sovryn, the DeFi project behind BitcoinOS, the platform's in-built fraud system allows even a single honest participant to prevent fraudulent transactions.Yago, who is also the founder and CEO of Sovryn, said that all projects built on BitcoinOS can seamlessly share users and activities because all aggregations are built from the the same modular components. According to CoinGecko, Sovryn's native currency, SOV, spiked 60 percent to $1.37 following the release of BitcoinOS.