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BEVM Unveils Groundbreaking Taproot Consensus for Decentralized Bitcoin Layer 2 Solution

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[PRESS RELEASE – Cardiff, 英国, May 26th, 2024]

On May 20, 2024, the Bitcoin Layer2 development team BEVM released the technical yellow paper titled “Taproot Consensus: A Decentralized BTC Layer2 Solution.” This paper details the implementation of Taproot Consensus, leveraging native Bitcoin technologies such as Schnorr signatures, MAST, and Bitcoin SPV nodes to build a fully decentralized BTC Layer2 solution. Taproot Consensus represents a significant leap in native Bitcoin scalability, combining existing Bitcoin technologies innovatively without modifying Bitcoin’s core code.

I. History of Bitcoin’s Technical Iterations

  • October 31, 2008: Satoshi Nakamoto published “Bitcoin: A Peer-to-Peer Electronic Cash System,” introducing Bitcoin and the concept of SPV (Simple Payment Verification).
  • January 3, 2009: Nakamoto mined the Genesis Block, launching Bitcoin. The original code used ECDSA for digital signatures instead of the more suitable Schnorr signatures, which were under patent protection at the time. Schnorr signatures retain all the functionalities and security assumptions of ECDSA and can surpass the 15-signature limit of ECDSA, enabling the management of Bitcoin with thousands of addresses without affecting signing speed.
  • 2018: Bitcoin core developers proposed integrating Schnorr signatures into the Bitcoin network.
  • November 14, 2021: The Taproot upgrade integrated Schnorr signatures and introduced MAST (Merkelized Abstract Syntax Trees), enabling smart contract-like capabilities and decentralized multi-signature management.
  • The Taproot Consensus solution by BEVM builds on these advancements, combining Schnorr signatures and MAST to manage multi-signature addresses and enable complex business scenarios in Bitcoin Layer2.

II. Overview of the Taproot Consensus Solution:

The yellow paper begins by highlighting Bitcoin’s non-Turing complete nature and limited functionality for smart contracts. It argues for using Bitcoin’s existing capabilities to build a decentralized Layer2 solution rather than modifying Bitcoin Layer1.

BEVM’s Taproot Consensus combines Bitcoin’s Taproot technology (Schnorr signatures and MAST), Bitcoin SPV light nodes, and the BFT PoS consensus mechanism to create a decentralized and consistent Layer2 network.

III. Detailed Explanation of Taproot Consensus Architecture

The Taproot Consensus architecture comprises three main components: Schnorr+MAST, Bitcoin SPV, and Aura+Grandpa.

· Schnorr+MAST: Uses these technologies from the Taproot upgrade to achieve decentralized Bitcoin multi-signature management driven by Bitcoin code.

· Bitcoin SPV: Allows synchronization and verification of Bitcoin transactions without running a full node.

· Aura + Grandpa: Advanced PoS consensus protocols for Byzantine fault tolerance, ensuring high consistency among network nodes.

In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The aggregated public key forms a MAST tree, enabling BTC transfers and inscriptions to the threshold signature address. Validators act as Bitcoin SPV light nodes, synchronizing the BTC network state securely and permissionlessly. Aura+Grandpa ensures the Layer2 network’s security and trustworthiness, with assets managed by BFT consensus.

The operating principle of Taproot Consensus is: “In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The characteristic of Schnorr signatures enables efficient signature aggregation, thereby enhancing the system’s security and efficiency. The aggregated public key Pagg, generated through the Musig2 multi-signature scheme, forms a large MAST (Merkle Abstract Syntax Tree). After generating the root hash of the MAST tree, validators perform BTC transfers and inscriptions to the threshold signature address generated by the MAST tree, enabling the submission of data from the BTC mainnet to the BEVM network. Each validator also acts as a Bitcoin SPV (Simplified Payment Verification) light node, allowing them to securely and permissionlessly synchronize the BTC network state.”

IV. Other Technical Details in the Yellow Paper – True Decentralization

The yellow paper also details the implementation of Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura+Grandpa, providing a comprehensive technical outline for those interested in Bitcoin technologies. It explains the Musig2 implementation and contrasts with other BTC Layer2 projects like Mezo, which uses the tBTC protocol. Unlike tBTC, which relies on a network of nine signatories, Taproot Consensus integrates multi-signature networks with BFT PoS consensus, achieving true decentralization.

Moreover, the yellow paper explains the implementation process of Musig2 and the differences between other BTC Layer2 projects like Mezo and Taproot Consensus. Mezo’s underlying technical structure is based on the tBTC protocol, which uses Bitcoin multi-signature to construct a threshold signature network, offering strong consistency compared to traditional distributed networks. However, tBTC still relies on a network of nine signatories, whereas a truly decentralized system should be consensus-driven, combining multi-signature networks with BFT PoS (Byzantine Fault Tolerance Proof of Stake) consensus mechanisms. This is the difference between distributed networks and blockchains; distributed networks emphasize distribution but lack Byzantine fault-tolerant consensus, whereas blockchains, while also being distributed networks, are driven by Byzantine fault-tolerant consensus, achieving true decentralization. The Taproot Consensus solution adopts this more advanced design. By integrating Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura and Grandpa Byzantine fault-tolerant consensus mechanisms, it constructs a highly consistent and secure decentralized Layer2 scalability solution. This integration enhances the scalability and usability of the Bitcoin network and ensures the security and consistency of the BEVM network.

Conclusion

The BEVM team’s technical yellow paper comprehensively describes Taproot Consensus, a Bitcoin Layer2 solution built entirely on native Bitcoin technologies. It respects and innovates on Bitcoin’s original technological direction, making it a true evolution of native Bitcoin scalability technology. As the Bitcoin ecosystem evolves, solutions like Taproot Consensus will be crucial for its development, serving as major cornerstones for truly decentralized Bitcoin Layer2 solutions.

About BEVM

BEVM is the first fully decentralized, EVM-compatible Bitcoin Layer 2 solution. It allows Ethereum ecosystem DApps to operate on Bitcoin, using BTC as gas. BEVM enhances Bitcoin’s utility by providing a secure and scalable platform for decentralized applications. The system integrates advanced consensus mechanisms, cross-chain interaction, and robust data integrity to ensure a seamless experience. BEVM aims to innovate within the Bitcoin ecosystem by offering increased scalability, security, and compatibility with popular Ethereum tools and applications.

For more information, users can visit BEVm’s official website or follow BEVM on Twitter.

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Plume and 0G Partner to Launch RWAI Agents, Redefining AI-Powered RWA Finance

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[PRESS RELEASE – New York City, United States, March 6th, 2025]

Plume, the first full-stack L1 RWA Chain, is joining forces with 0G to launch and support “RWAI Agents,” a suite of AI-driven solutions designed to enhance real-world asset (RWA) finance. This initiative will introduce decentralized AI agents specializing in tokenizing RWAs, automating research and reporting, and managing onchain financial operations through DeFAI-driven vault management and task execution.

0G, the leader in AI-native blockchain infrastructure, provides the foundation for RWAI Agents to operate efficiently, leveraging AI to optimize asset tokenization, automate financial workflows, and enhance transparency in RWA markets. With this integration, RWAI agents will be able to leverage 0G’s market-leading inference and data storage infrastructure with Plume’s comprehensive ecosystem of 180+ RWA projects, including institutional-grade asset issuers and RWAfi primitives, to pioneer a new paradigm for AI-driven asset management and decentralized finance.

RWAI Agents: The Future of AI-Powered RWA Finance

Plume and 0G’s collaboration will focus on expanding the role of AI in RWA tokenization, DeFi, and financial automation. The RWAI Initiative will drive innovation in:

  • AI-Driven RWA Tokenization: Automating the conversion of real-world assets into on-chain tokens, improving efficiency, and reducing entry barriers for investors.
  • Automated Research & Reporting: AI-powered agents conducting on-chain and off-chain research, delivering insights and reports on market trends and asset performance.
  • DeFAI for RWA Management: Autonomous financial agents optimizing vault management, task execution, and liquidity provisioning within Plume’s RWAfi ecosystem.
  • Institutional and Retail Accessibility: Bridging AI and finance to provide scalable, transparent, and efficient financial infrastructure for both institutional and retail investors.

“RWAs are the next frontier of DeFi, and AI will be the key to unlocking their full potential,” said Teddy Pornprinya, Co-founder of Plume Network. “By integrating 0G’s AI capabilities with Plume’s RWA ecosystem, we are building the tools necessary for a more efficient, automated, and accessible financial future.”

A New Era for AI in Finance

Plume and 0G’s partnership marks a major step in the convergence of AI, RWAs, and DeFi, enabling seamless asset tokenization, enhanced financial automation, and intelligent decision-making in decentralized finance. By deploying AI-powered agents, the initiative aims to redefine how RWAs are managed, traded, and utilized in blockchain-based financial ecosystems.

About Plume

Plume is the first full-stack L1 RWA Chain and ecosystem purpose-built for RWAfi, enabling the rapid adoption and demand-driven integration of real-world assets. With 180+ projects building on the network, Plume offers a composable, EVM-compatible environment for onboarding and managing diverse real-world assets. Coupled with an end-to-end tokenization engine and a network of financial infrastructure partners, Plume simplifies asset onboarding and enables seamless DeFi integration for RWAs so anyone can tokenize real-world assets, distribute them globally, and make them useful for native crypto users.

Users can learn more at https://plumenetwork.xyz/ or contact press@plumenetwork.xyz.

About 0G

Zero Gravity (0G) is the largest L1 for AI offering unparalleled infrastructure to power the next generation of decentralized AI applications. Building the first decentralized AI Operating System, unlike traditional closed AI systems, 0G empowers users with full autonomy, ensuring privacy, verifiability, and censorship resistance.

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Bitcoin (BTC) Price Prediction: $150K Is Still Possible But What’s the Catch

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TL;DR

  • One analyst predicts a substantial surge for Bitcoin (BTC) if it breaks past $97K, with strong buying pressure reinforcing bullish momentum.

  • While Trump’s March 7 crypto summit could spark optimism, some warn of a “sell the news” scenario that could lead to a market correction.

A 65% Increase on the Way?

Over the past several hours, Bitcoin (BTC) has stabilized in the $90,000-$92,000 range. Recall that in the last week, the primary cryptocurrency experienced enhanced volatility, with its price hovering between $78,000 and $95,000.

According to some analysts, pumping to a new all-time high is not out of the question. The popular X user Ali Martinez envisioned a target of $150,000 if BTC reclaims $97,000. He based his assumption on the Pi Cycle Top Indicator, an on-chain metric that identifies potential market tops of the leading digital asset. 

Shortly after, Martinez claimed the candlestick wicks on BTC’s weekly chart signal strong buying pressure, meaning bulls might step in “to defend key support levels.”

Another analyst who outlined a bullish prediction was the X user CRYPTOWZRD. They maintained that “moving above $91,500 will bring the next long location.” 

“A successful bullish breakout of that will result in a quick rally towards $100,000 or higher,” the market observer added. 

Those curious to explore additional factors that may positively impact BTC’s valuation in the short term can take a look at our dedicated article here

Beware of the Crypto Summit

US President Donald Trump will host a designated crypto summit in the White House on March 7. The highly-anticipated gathering is supposed to touch upon crucial topics, including regulatory frameworks, the future of the digital asset industry in America, and, of course, details on the crypto reserve. 

The event will supposedly be attended by some well-known names in the sector, such as Strategy’s founder Michael Saylor, Ripple’s CEO Brad Garlinghouse, Coinbase’s boss Brian Armstrong, and others. 

Many industry participants believe that the discussions would positively influence BTC’s price. Others, though, have warned about a potential “sell the news” effect. 

Such a market phenomenon occurs when investors go on a buying spree in anticipation of good news, driving prices up before the event. When the news is finally released, many traders take profits, causing a substantial sell-off.

Earlier this week, US Commerce Secretary Howard Lutnick reportedly stated that Trump will unveil a BTC reserve strategy at the White House on March 7. Ali Martinez reacted to the disclosure, saying, “Buy the rumor, sell the news.”

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3 Reasons Why US Crypto Reserve Proposal Is Bullish Despite Flaws: Bitwise CIO

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US President Donald Trump’s unexpected declaration that the country would establish a crypto reserve holding Bitcoin, Ethereum, Solana, Ripple, and Cardano initially sent markets soaring. Bitcoin surged from $85,000 to $95,000 before retracing those gains as skepticism crept in.

Market participants seemed unsettled not by the concept of a reserve itself but by the inclusion of non-Bitcoin assets, particularly those perceived as more speculative.

This reaction, according to Bitwise Investment Chief Matt Hougan, is shortsighted.

“Market Is Overthinking Things”

In the latest memo, Hougan claimed that the market is “overthinking” the recent announcement of a US strategic crypto reserve and has missed the broader bullish implications.

Despite imperfections in the rollout, he argued that the fundamental takeaway is clear – the US government has officially recognized crypto as a strategic asset.

In the long run, Hougan believes that this could trigger a significant shift in global monetary policy and institutional investment trends. Hougan highlighted three key factors the market is missing.

First, he pointed out that Trump’s proposals often evolve before reaching their final form. The White House’s upcoming Crypto Summit is also likely to serve as a forum for industry leaders to push for adjustments, an event that is expected to refine the reserve to focus more on Bitcoin potentially.

If anything, Hougan believes that the “boldness” of the original proposal expands the Overton window making a Bitcoin-only reserve seem like a reasonable compromise rather than an extreme position. Rather than dismissing the initiative due to its flaws, the Bitwise exec asserted that investors should recognize its potential to reshape the regulatory landscape in favor of digital assets.

Second, Hougan went on to highlight the geopolitical impacts of the US taking the lead in declaring crypto a strategic reserve asset. Whether or not the final proposal includes a mix of cryptocurrencies, the simple act of legitimizing state-held Bitcoin will likely prompt other nations to follow suit.

Countries that have dabbled in Bitcoin acquisition – such as El Salvador and Bhutan – will no longer seem like outliers but early movers in a global trend. If the US makes a significant crypto purchase, other governments, particularly those in Latin America, the Middle East, and Asia, may feel pressure to do the same. A global arms race for Bitcoin accumulation could ensue, reinforcing its position as digital gold.

Finally, Hougan dismissed concerns that future political shifts could lead to the liquidation of the reserve. He explained that the “asymmetric passion” for crypto in the US suggests that once the government acquires Bitcoin, it will be reluctant to sell. Unlike volatile short-term policies, strategic reserves tend to continue across administrations. Just as the US still holds significant gold reserves, a national crypto reserve could become a long-term fixture.

Eyes on Friday

All eyes are on the upcoming White House Crypto Summit on Friday, which may serve as the starting point for a US strategic crypto reserve. The event will bring together industry leaders and members of President Trump’s crypto task force. Scheduled for March 7th, the summit will be led by David Sacks, Trump’s top advisor on AI and crypto.

In a statement to The Pavlovic Today, Commerce Secretary Howard Lutnick revealed that Bitcoin would receive special treatment compared to the other cryptocurrencies mentioned in Trump’s announcement. He noted that Trump had consistently expressed interest in a Bitcoin reserve and hinted that Friday’s event could mark its official rollout.

Regarding other cryptocurrencies, Lutnick suggested they would be handled differently from Bitcoin but still positively. Further details will be unveiled at the summit.

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