Citrea has announced that it is now live as Bitcoin’s first ZK Rollup. The idea is to increase the capabilities of the Bitcoin block space by using zero-knowledge technology. The challenge for users was to scale the blockchain with the increasing demand. However, that was inconsistent, together with unsafe bridges and network constructions. Simply put, current scalability proposals don’t scale Bitcoin, and that’s a challenge.
The solution for this is Citrea, which functions by processing thousands of transactions in batches. It also ensures that users do not lose the security they deserve when conducting transactions. The fundamental premise is to keep demand within the sphere of Bitcoin. With ZK Proofs, Bitcoin’s block space is used as best as possible.
ZK Rollups have proven to be an ideal option for scaling Bitcoin blockspace, given the way they offload execution and keep data on-chain. ZK proofs are then used to verify executions on Bitcoin.
Batching over a thousand transactions is not where the work stops. Citrea continues with a number of steps in the process. It introduces the production of a validity certificate, followed by its registration. To begin with, validity certificates are produced to confirm the correctness of the execution. Second, the inscription is accompanied by optimistic verification in the ecosystem via BitVM.
It took more than a year for Citrea to become a reality after Chainway Labs incubated it. There is now a push to make Bitcoin the foundational foundation for global finance. Citrea considers Bitcoin App Bedrock, supporting EVM equivalence and building on the ultimate power of Bitcoin Settlement plus Trust minimized two-way coupling.
The community is curious to see what development will look like after launch. A few members have urged that it be the First ZK Rollup would be wrong, as it isn’t live on the mainnet yet.
In the future, work is underway on a trust-minimized two-way connection with BitVM, which should be completed soon. The team also uses Citrea Devnet for critical infrastructure integrations and testing.
That said, Bitcoin is currently down 0.03% over the past 24 hours and is hovering around $42,921.58 as the article is being drafted. It reflects an increase of 0.13% in the past seven days and a major decline of 2.465% in the past 30 days. Bitcoin’s market cap and 24-hour volume remain 0.03% and 6.79% lower, respectively.
After the US SEC approved eleven ETF applications, Bitcoin once again gained attention. However, the lackluster market response is mainly due to the selling pressure exerted by GBTC. BTC is expected to surpass its all-time high by the end of this year or early next year as the community now expects a vibrant crypto environment.
