Bitfinity and Beyond: Programability on Bitcoin & ICP Companions
Discover the expanding Bitfinity ecosystem and its innovative partners, from virtual machines and ICP-based projects to interoperability solutions, all working together to unlock Bitcoin's full potential and go 'Beyond'!
A new year, a new Bitfinity ecosystem article as they say. Although we saw the first edition of our extensive ecosystem highlights in 2024, we take today an in-depth look at other projects that make Bitfinity go round.
Fred
We examined decentralized exchanges, DeFi protocols, NFT platforms, and stablecoins that aim to bring advanced financial services to Bitcoin through Bitfinity's chain fusion technology.
Today, in our second article on the Bitfinity ecosystem, we examine projects that want to achieve similar things but in a different way. Let's look at the projects that are building layers on the biggest foundational layer of them all, Bitcoin.
Bitfinity & The Virtual Machine Space 🫶
Let's first take a look at similar projects to Bitfinity and solutions that want to achieve similar outcomes by bringing programmability to Bitcoin. Think of all variants of EVM on the Bitcoin blockchain.
Hans
Bitcoin Virtual Machine 🤝
First in the list of our ecosystem partners is the Bitcoin Virtual Machine (BVM) which is a development infrastructure within the Bitcoin ecosystem and offers over 30 featured tools that enable developers to build various infrastructures along with a wide range of dApps, GameFi, payments systems, and even applications integrating AI.
BVM is an EVM equivalent, meaning it allows Ethereum developers to migrate Solidity smart contracts and dApps from Ethereum to Bitcoin with minimal or no modifications.
Bitgert 🤝
Bitgert is a crypto organization that aims to change the way people interact with digital assets. With their Bitgert Chain, they proclaim to be the first zero gas fee blockchain. They also have the Bitgert centralized crypto exchange that includes spot trading.
They also have, of course, an AI-Audit platform for smart contracts auditing, followed by LocalBitgert, a P2P crypto exchange marketplace where people can trade crypto directly with each other. The whole shabang!
LayerEdge 🤝
LayerEdge also teamed up with us as a verification and settlement layer that enables true rollups on Bitcoin with Zero Knowledge and BitVM. It is based on two main mechanisms - shared transactions and proof aggregation.
As we know, Bitcoin provides unmatched security, but leveraging this security through ZK proofs is either technically impossible (due to Bitcoin's limited scripting capabilities) or economically unfeasible (due to huge costs per state transition). This is where LayerEdge comes in - it enables protocols (for instance Layer 2 solutions) to share verification costs through proof aggregation.
Hans
Everclear 🤝
As the name suggests, Everclear is a ‘clearing’ layer that coordinates the global settlement of transactions between chains, as well as Bitfinity Net. Its primary focus is to address the complexities and challenges associated with cross-chain interactions.
To do this, it employs the intents-based model where instead of users navigating path-finding, bridging, switching chains, and paying gas fees for cross-chain transactions, they state their intention to carry out an action, then a service provider comes in and executes the intent at a fee which is much lower than switching between chains.
The protocol also helps solve liquidity fragmentation which, as we know, refers to a scenario where the available liquidity is spread across multiple platforms or chains.
Nubit 🤝
Nubit is a tech firm building a trustless world computer for Bitcoin, similar to the world computer of Ethereum, in a way to enable open scaling through Bitcoin-native technology.
The firm aims to overcome the three main challenges of limited programmability, storage, and scalability faced by Bitcoin and make it the backbone for building a user interface.
To do this, it has introduced a comprehensive infrastructure starting with an integration with the Bitcoin Virtual Machine (BitVM), mentioned above, and Goldinals, a trustless framework for fungible tokens on Bitcoin. Nubit has developed a rich ecosystem of numerous dApps and integrations which can be viewed here.
Bitroot 🤝
Bitroot is also a part of the Bitfinity ecosystem and wants to build to bring more functionality to the Bitcoin ecosystem and does so through the following key products:
- Bitroot VM, a virtual machine that allows for Turing-complete smart contracts to be verified on Bitcoin.
- Bitroot Protocol which facilitates the minting and transfer of BRT20-compliant tokens and NFTs on Bitcoin.
- Bitroot Layer, a Layer 2 solution that acts as the native extension network of the protocol to support EVM smart contracts.
- Crossbridge, a decentralized cross-chain approach used between the protocol and Layer 2 to ensure asset and cross-chain security.
Movement 🤝
Movement Network is also a next-generation blockchain designed to offer better transaction throughput, access to mass liquidity, and provide developers with a platform for creating dApps. The network is built using the Move Virtual Machine (MoveVM), which gives it access to the Move programming language for smart contracts and transaction throughput.
Despite being built on MoveVM, the network also has support for (Bitfinity) EVM. This way, developers can leverage the advanced features of the Move language while maintaining compatibility with existing Ethereum applications.
Owl Protocol 🤝
Owl Protocol is a platform that empowers developers to create applications to onboard the next generation of Web3 adoption. Its modular infrastructure allows developers to build on any Ethereum Virtual Machine (EVM) compatible blockchain through several key features.
The first one is the Contracts API (Application Programming Interface) used to simplify building dApps. The second is the support for the creation and management of wallets. The protocol has support for developers, users, and smart wallets which simplifies development and user onboarding.
The last feature is the no-code dashboard which acts as the hub to manage the built dApps. Through it, you can launch and configure smart contracts, manage metadata, collaborate with other team members, and also bridge chains and tokens.
Native 🤝
Our ecosystem also offers ‘native’ support for builders at Native Network, which is a Bitcoin application layer built on Zero Trust Architecture. The network aims to attract builders to Bitcoin by bringing programmability and modular multi-chain interoperability to them.
It does this through smart contracts facilitated by CosmWasm which is to be joined later by EVM and MoveVM depending on developer preferences. One unique feature that sets Native apart from other platforms that aim to offer similar solutions is that it uses Bitcoin itself for staking and governance, eliminating the need for risky bridging mechanisms.
Beyond 🤝
The infrastructure of Bitfinity goes ‘beyond’, with all the puns intended. We look at Beyond which is a Bitcoin interoperability protocol built on LayerZero, and provides the necessary infrastructure for users to securely bridge any token to, from, and within Bitcoin L1.
At Beyond, users can bridge major digital assets like USDT, ETH, or SOL to Bitcoin L1 from over 80+ chains and L2s as their native token in their preferred standard - BRC-20s or Runes - which they can easily switch between (for example, BRC-20><Runes). The protocol is currently live on testnet.
Starter Labs 🤝
To finish our list of partners that bring programmability to Bitcoin, we highlight Starter Labs, which is a blockchain research and development company with an aim to create on-chain opportunities for everyone.
To achieve this, the company has integrated several key products, one being a play-and-earn game where players earn tokens that they can stake for access to Web3 investments.
The second product is its EVM-based launchpad that connects on-chain builders with investors to help them secure funding for their projects, and last but not least is the Atlanta Blockchain Centre, a project through which it has built physical coworking spaces in growing cities to help incubate projects.
Bitfinity & Projects Running on the ICP 🫶
In our ecosystem we need to make some important distinctions to cluster the info in a correct way. One of these distinctions are the foundational technologies they run upon.
Hans
While we know Bitfinity EVM is special because it combines the chain fusion technology built on Bitcoin and settled on Bitcoin, we are not the only one that uses the technology of the creator of chain fusion. Let's take a look.
Rentmase 🤝
Rentmase is a decentralized super-app built on the Internet Computer that acts as a one-stop shop for all rental things. It is called a super-app because it combines several products and features in one platform, which include:
- The Property Management System (PMS), a powerful system that automatically notifies residents of upcoming or due payments, reminds staff of upcoming tasks, and provides a chat system that connects residents and property managers.
- E-commerce & Property Listings, a section that allows one to rent an apartment, streamlines home services bookings (like laundry and cleaning), food ordering, insurance, health, and more.
- CogniE, an AI engine that helps in services such as autogenerating rental reports, automating tenant screening, scheduling and tracking maintenance tasks, and more.
- Property Loans which allow property managers or owners to rent loans with low interest rates for residents who are running late on their rent and also finance the purchase or maintenance of a property, land, or other types of rental properties.
Yuku 🤝
YukuNext of the projects that make up our ecosystem and are in the list is Yuku, which is a fusion of AI and Web3 that wants to produce an NFT marketplace, gaming haven, and immersive metaverse, all built on the Internet Computer.
Imagine wielding that power to craft unique items, artwork, and even virtual real estate. Well, at Yuku NFT marketplace you don't have to imagine it anymore, you just have to create and customize your virtual assets and then trade them. And even better, through the cross-chain functionalities of ICP you can interact with any ICP NFT collections from the different ICP marketplaces.
On the other side, the gaming haven allows you to engage in several games such as role-playing games, and even integrate your virtual assets created at the NFT marketplace. Where you can interact, socialize, and engage in several activities, from attending virtual events.
AppIC 🤝
AppIC is a platform built on the Internet Computer designed to better the functionality of DeFi. It integrates three key features: AppIC Terminal, AppIC Swap, and AppIC DeFi.
AppIC Terminal facilitates the cross-chain transfer of assets between ICP and other chains such as Ethereum, Solana, Bitcoin, and EVM chains, while AppIC Swap is responsible for swapping tokens across these chains.
At last, AppIC DeFi is tasked with enhancing portfolio management, liquidity provision, and trading efficiency.
Oisy 🤝
OISY is a browser-based, network-custodial, and multi-chain wallet powered by the Internet Computer's chain fusion technology. Unlike many self-custody wallets, OISY requires no browser extensions or additional mobile apps; a standard web browser is enough.
It utilizes ICP's unique features, such as Internet Identity (II) for authentication, Chain-key signatures for smart contracts to perform cryptographic signatures, web applications, and upcoming HTTP outcalls. This way, users can receive, hold, and send native ICP, ICRC-1, ETH, ERC20, and soon BTC.
Omnity 🤝
At the end of our list there is Omnity, a Bitcoin interoperability protocol built by Octopus Network on the Internet Computer. It has developed the Omnity Hub which acts as a bridge that connects Bitcoin with other Layer 1s and Layer 2s.
This way it addresses common challenges found in existing protocols and allows users to bridge assets such as BTC, Runes, and BRC20 across various chains. For instance, users can bridge assets from ICP to Bitfinity or from Bitfinity to ICP and any other supported chain.
Conclusion
The Bitfinity ecosystem has an extensive ecosystem with partners that venture into unknown territory and keep evolving. As seen in this second article in our series, we have delved into several key areas:
🫶 Bitfinity & The Virtual Machine Space: Projects like Bitcoin Virtual Machine (BVM), Bitgert, LayerEdge, Everclear, Nubit, Bitroot, Movement Network, Owl Protocol, Native Network, Beyond, and Starter Labs are working to bring programmability and EVM-like functionality to Bitcoin, enabling the development of dApps, DeFi, and more on the Bitcoin blockchain.
🫶 Bitfinity & Projects Running on the ICP: Rentmase, Yuku, AppIC, OISY Wallet, and Omnity are built on the Internet Computer, leveraging its chain fusion technology to enable cross-chain interoperability, DeFi, NFT marketplaces, and other innovative applications.
Let's wish them the best for the new year and hope our collaboration brings innovation and helps to unlock the full potential of Bitcoin. To Bitfintiy and Beyond!
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