From Investing.com: 2024-05-26 07:30:37

BEVM released a technical yellow paper on May 20, 2024, unveiling “Taproot Consensus: A Decentralized BTC Layer2 Solution.” It leverages Bitcoin technologies like Schnorr signatures and MAST to create a fully decentralized BTC Layer2 solution, enhancing scalability without modifying Bitcoin’s core code.

The paper details the history of Bitcoin’s technical iterations and the evolution towards Taproot upgrade, introducing Schnorr signatures and MAST for smart contract-like capabilities and decentralized multi-signature management in Bitcoin Layer2 solutions. BEVM’s Taproot Consensus builds on these advancements for enhanced scalability and security within the Bitcoin ecosystem.

BEVM’s Taproot Consensus integrates Schnorr signatures, MAST, Bitcoin SPV light nodes, and BFT PoS consensus mechanism to create a decentralized and consistent Layer2 network. This architecture allows for efficient multi-signature management, Bitcoin transaction verification without full node running, and Byzantine fault-tolerant consensus among network nodes, ensuring a secure and trustworthy ecosystem for BTC transfers and inscriptions.

The technical yellow paper provides detailed explanations of how Taproot Consensus operates, emphasizing the efficient use of Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura+Grandpa for secure BTC transfers and inscriptions. It contrasts with other Bitcoin Layer2 projects like Mezo, highlighting true decentralization achieved through multi-signature networks and BFT PoS mechanisms for enhanced scalability and security within the BEVM network system.

Read more at Investing.com: BEVM Unveils Groundbreaking Taproot Consensus for Decentralized Bitcoin Layer 2 Solution By Chainwire