BitcoinOS Platform Aims to Bring DeFi to Bitcoin

According to Decrypt, blockchain developers have introduced a new platform called BitcoinOS, designed to bring decentralized finance (DeFi) to the Bitcoin network. The platform uses 'sovryn rollups' to create a foundational layer for decentralized apps (dapps) on Bitcoin, allowing developers to contribute and build new tools in any programming language. Edan Yago, a core contributor to BitcoinOS, explained that sovryn rollups use Bitcoin as a data availability layer, unlike ZK rollups, which rely on smart contracts on the parent chain. As Bitcoin does not have smart contracts, ZK rollups are not possible on the network. Bitcoin's main blockchain is known for being slow and expensive during high activity periods, with limited programming language options. Existing technologies like sidechains can enable faster transactions but require users to trust centralized, federated bridges and suffer from liquidity siloes. BitcoinOS claims to offer scalability, programmability, interoperability, and a near trustless security model with minimal tradeoffs. The platform's built-in fraud system allows even a single honest participant to prevent fraudulent transactions, according to a press release from Sovryn, the DeFi project behind BitcoinOS. Yago, who is also the founder and CEO of Sovryn, said that all projects built on BitcoinOS can seamlessly share users and activity since all rollups are built from the same modular parts. Following the announcement of BitcoinOS, Sovryn's native currency SOV surged 60% to $1.37, according to CoinGecko.