 | Bool Network (BOOL)Bool Network is an open, decentralized, and secure Bitcoin verification layer powered by MPC-based (Multi-Party Computation) distributed key management. It allows developers to easily build a fast, stable, and scalable Bitcoin Layer 2 blockchain, inheriting the security features of Bitcoin in a one-stop solution. Seed Round: $2 Million IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice. |
Overview
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OpenWhat is Bool Network
Bool Network is a permissionless, decentralized, and secure Bitcoin verification layer that aims, within the premise of not altering Bitcoin’s consensus rules, to securely and decentralize the expansion of the Bitcoin network, thereby fostering prosperity within the Bitcoin ecosystem.
The transaction throughput of Bitcoin has long been a crucial concern for users. Despite Bitcoin’s clear advantages in security and decentralization, its limited transaction speed restricts its ability to effectively handle a large volume of transactions. This issue is an integral part of the blockchain impossible trilemma. To address this challenge, one of the primary solutions is the adoption of Layer 2 technologies. However, due to Bitcoin’s inherent lack of smart contract functionality, current Layer 2 solutions commonly encounter issues related to centralization.
To overcome these challenges, we propose Bool Network, a decentralized and secure Bitcoin verification layer driven by MPC-based distributed key management. It aims to address the constraints on Bitcoin’s transaction speed. Bool Network comprises an evolving committee of hidden members Dynamic Hidden Committees (DHC) to safeguard the identities of committee members, we introduce the Ring Verifiable Random Function (Ring VRF) protocol. In this protocol, the genuine public keys of VRF instances are concealed within a ring. Furthermore, to ensure the privacy and integrity of key components, all key management procedures are executed within a Trusted Execution Environment (TEE), such as Intel SGX. This proposal seeks to mitigate Bitcoin’s transaction speed limitations while upholding its decentralization and security.
DetailsRaised: 2,000,000 USDLegalRegistration year: 2022 | Token infoTicker: BOOLType: Utility-token Token standard: BRC-20 Token distribution: Miner - 50% Team - 12% Investor - 15% Foundation - 10% Airdrop - 3% Testnet - 10% |
Bool Network Roadmap
- Decentralized Index Deployment: Release the decentralized index system to enhance the decentralization of BRC20.
- Optimization of BTC to Layer2 Cross-Chain Bridge: Complete the optimization of the cross-chain bridge from Bitcoin to Layer2 network to improve interaction efficiency and reliability.
- Completion of Economic Model Design: Finalize the design of Bool Network's economic model, ensuring the rationality of incentive mechanisms and inflation patterns.
- Whitepaper/Yellowpaper Release: Publish the whitepaper and yellowpaper of Bool Network, providing detailed explanations of the network's design principles, technical implementations, and development vision.
- Integration of TEE Environment in Testnet: Integrate Trusted Execution Environment (TEE) into the testnet to enhance network security and privacy.
- Release of BRC20 Cross-Chain Bridge: Launch the BRC20 cross-chain bridge, facilitating a secure and efficient exchange of assets between Layer2 and Bitcoin.
- Bridge Contract Audit: Conduct an audit of the cross-chain bridge contract to ensure contract robustness and security.
- Bitcoin Taproot Escape Hatch Test Version Release: Release a test version of the Bitcoin Taproot escape hatch to ensure compatibility with the Bitcoin mainnet.
- Alpha Testnet Launch: Initiate the alpha version of the testnet, inviting the community and developers to participate in testing and provide feedback.
- Release of Economic Model Test Version: Release a test version of the economic model for community members to evaluate and provide feedback.
- Release of Data Availability Layer Test Version: Release a test version of the Data Availability layer to ensure reliable retrieval of Layer2 data even in the event of issues on Layer2.
- Beta Testnet Launch: Launch the beta version of the testnet for more extensive testing, collecting user experience and performance feedback.
- Release of Test Version for Forced Exit Module: Release a test version of the Forced Exit module to ensure the reliability of withdrawal operations.
- Release of Bool Stack: Introduce Bool Stack, offering tools and services to simplify the development process for developers.
- Integration Testing of Bool Network: Conduct integration testing of Bool Network to ensure the collaborative operation of different components and overall stability.
- Performance Optimization of Bool Network: Optimize the performance of Bool Network to enhance throughput and response speed.
- Core Code Audit of Bool Network: Conduct a core code audit to ensure code quality and security.
- Security Audit of Bool Network: Perform a security audit to identify and address potential security vulnerabilities.
- Open Source of Bool Network DHC Code: Open source the code for Bool Network's Dynamic Hide Committee (DHC) to encourage community participation and review.
- Mainnet Launch of Bool Network: Officially launch the Bool Network mainnet, allowing users to begin transactions and utilize various functionalities on a stable network.
- Bitcoin Staking: Hold Bitcoin, Earn Altcoin Yield.
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