Bitcoin Forum
July 28, 2025, 02:33:28 AM *
News: Latest Bitcoin Core release: 29.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Liquid Bitcoin (₿²O) - A Peer-to-Peer Electronic Cash State Layer  (Read 104 times)
cryptskii (OP)
Newbie
*
Offline Offline

Activity: 13
Merit: 3


View Profile
November 18, 2024, 06:58:37 AM
Last edit: November 18, 2024, 07:22:07 AM by cryptskii
Merited by cybnate26 (1)
 #1

BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC
ANN: Bitcoin Liquid ₿²O in part by Overpass Channels oh and this is the 1st fully holy grail trustless or whatever too..
BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC

The Evolution of Layer 2 Solutions

-------------BTC----------------------------------------------------------------------------

Previous approaches to Bitcoin scaling generally fell into two categories:

1. Rollups & Sidechains- Required own consensus layer
- Complex state management
- Inherent bottlenecks
2. Bitcoin Consensus Extensions- Leverage Bitcoin's consensus directly
- More efficient but still consensus-bound
- Processing L2 data through Bitcoin consensus


--------------------------------------------------------------------------BTC----------------

The Mathematical Breakthrough


The key insight: Pure mathematical verification is superior to both, even though it just uses the data of availability,
not the consensus at all, but that's because again the consensus even bitcoins is still weaker than the hardness of the
cryptography alone transactions cannot be censored on this network and Here's why:

Channel Structure- One-way flows only
- Single user per channel
- Simple add/subtract operations
State Isolation- Completely compartmentalized transitions
- No cross-channel dependencies
- Deterministic outcomes


------------BTC------------------------------------------------------------------------------

The Synergy of Components


All these elements must exist together to achieve true mathematical certainty:

Core ComponentsPurpose
Privacy at Client LevelEnsures transaction confidentiality
Unidirectional FlowsSimplifies state management
Sparse Merkle TreesEnables efficient proofs
Plonky2 Proof SystemProvides mathematical verification


-------------------------------------BTC-----------------------------------------------------

The Power of Mathematical Certainty

-------------BTC----------------------------------------------------------------------------

AspectConsensus-BasedPure Mathematical
VerificationProbabilisticAbsolute
SpeedLimitedUnlimited
SecurityNetwork-basedMathematical
ScalabilityBoundedInfinite
PrivacyOptionalInherent


--------------------------------------------------------------------------BTC----------------

Instant Finality Through Unilateral Design


[Visual: Channel State Transitions]
```
Sender Channel A ──────┐
                      │
                      ▼
                  [Pending State]
                      │   ▲
                      ▼   │
Receiver Sign/Accept ────┘

     Meanwhile...
     ┌───────────────┐
     │Dynamic Rebalance  │
     │  (New Channel)       │
     └───────────────┘
```

Key FeaturesBenefits
Instant State Updates- Sender signs updated state instantly
- Transaction finality immediate
- Pending state blocks new transactions until receiver confirms
- Mathematical proof generated instantly
No Consensus Waiting- State transition mathematically verified
- No block confirmations needed
- Receiver verifies instantly
Security Through Pending- Channel enters pending after transaction
- Prevents attack vectors
- Secure confirmation period
Dynamic Rebalancing- Rebalance to new channel while one is pending
- Continuous transaction capability
- Zero downtime operation

[Visual: Rebalancing Flow]
```
Channel A (Pending) ─────┐
                        │
Dynamic Rebalance ──────┼──► New Channel B
                        │
Proof Generation ───────┘
```


------------BTC------------------------------------------------------------------------------

The Global Ordering Myth: Debunked


[Visual: Traditional vs Overpass Transaction Space]
```
Traditional L2s                 Overpass Channels
┌──────────────────┐           ┌────────────────┐
│ Global Order                 │           │ Isolated Spaces         │
│ ┌─┬─┬─┬─┬─┐          │           │  A→B   B→C   C→D    │
│ │1│2│3│4│5│              │           │  └─┐   └─┐   └─┐       │
│ └─┴─┴─┴─┴─┘          │           │      │       │       │       │
└──────────────────┘           └───┴─────┴─────┘
```

Why Global Ordering Is Unnecessary
  • Each channel is unidirectional
  • One sender, one receiver
  • No cross-channel dependencies
  • State transitions are isolated

[Visual: Simplified State Management]
```
Channel A→B:  tx1 → tx2 → tx3  (local sequence)
Channel B→C:  tx1 → tx2        (independent)
Channel C→A:  tx1              (isolated)

No need to determine if A→B tx2 happened
before or after B→C tx1 - it doesn't matter!
```

-------------------------------------BTC-----------------------------------------------------
Breaking Free From Consensus-Based Thinking

Traditional AssumptionsMathematical Reality
Global ordering neededLocal ordering sufficient
Shared state requiredIsolated states more efficient
Complex coordinationMathematical independence
Network-wide verificationLocal proof verification


--------------------------------------------------------------------------BTC----------------

The Perfect Digital Cash Layer


Why Overpass Achieves What Others Couldn't:

FeatureHow It's Achieved
Censorship Immunity- Mathematically impossible to censor transactions
- Nodes only see proofs and Merkle roots
- Must accept all or nothing—no selective blocking
Instant Finality- No consensus waiting
- Mathematical verification instant
- Immediate transaction completion
Perfect Privacy- Built into mathematical structure
- Complete transaction isolation
- No information leakage
Infinite Scalability- No consensus bottleneck
- Parallel processing
- Only limited by proof generation speed
Simulated data suggest these performance numbers: https://cryptskii.github.io/overpass_performance_metrics.html
Keep in mind, you should actually get a fairly accurate projection to go by in this scenario because of the removal of any synchronization that you would typically have being gone you basically can just do the math after you consider the benchmarks for proof generation so we're looking at around 100 and 150 ms is what I see per transaction so that and the fact that no one should be needing to even

------------BTC------------------------------------------------------------------------------

Technical Implementation


ComponentImplementation
Proof System- Plonky2 for fast proof generation
- Constant-size proofs regardless of computation
- Native Bitcoin integration
Channel Structure- Unidirectional flows
- One sender, one receiver
- Simple state transitions
State Management- Sparse Merkle trees for efficiency
- Isolated state spaces
- Deterministic updates
Privacy Layer- Zero-knowledge proofs
- Complete transaction privacy
- No data leakage



-------------BTC----------------------------------------------------------------------------
What Makes Overpass Different?  

 
- Fully Trustless: No operators, committees, or validators—just Bitcoin’s native consensus.  
- Instant Transactions: Achieves instant off-chain transaction finality for everyday use.  
- Ready for Mass Adoption: Designed to handle the workload needed for global scalability.  
- Privacy by Default: Advanced zk-SNARK cryptography keeps transactions private.  
- Efficient: Minimizes fees and maintains Bitcoin’s economic integrity.  
- No BIP Proposals Required: Overpass works with Bitcoin’s current protocol and requires zero changes to the source code. Shocked  


--------------------------------------------------------------------------BTC----------------

Why Overpass?  

 
Bitcoin has established itself as the ultimate decentralized store of value. However, to fulfill its potential as a medium of exchange, it needs a trustless, private scaling solution.

Overpass stands out because:  
- The Only Fully Trustless Solution: No added infrastructure or intermediaries are needed.  
- Instant, Scalable Transactions: Overpass can process transactions with instant finality, meeting the demands of global mass adoption.  
- Enhanced Privacy: zk-SNARKs provide privacy, unlike interactive solutions that compromise on security.  
- Cash-like Functionality: Allows transactions to behave like "cash" while maintaining reversibility for settlement.  


------------BTC------------------------------------------------------------------------------

How Does It Work?  

 
Overpass combines advanced technologies to achieve trustless scaling:

TechnologyPurpose
zk-SNARKs:Ensure private and efficient state validation.
Hierarchical Sparse Merkle Trees:Optimize transaction throughput.
HTLC Compatibility:Integrates seamlessly with Bitcoin without changes to its protocol.
State Morphing:Enables cash-like transactions while preserving Bitcoin’s native properties.


-------------------------------------BTC-----------------------------------------------------

About Overpass  

 
Project Status & Vision

The Universal Standard
Perhaps most remarkably, Overpass's performance characteristics remain constant regardless of the underlying blockchain. While settlement times may vary between chains, all transactions on the Overpass network share the same instant finality and privacy guarantees. This creates, for the first time, a universal standard for digital cash that maintains Bitcoin's security guarantees while  exceeding the performance of any existing payment network.

The project has reached a crucial milestone: the mathematical framework is complete, the cryptographic proofs are solid, and the core architecture is designed. What started as a solo research project is now ready to scale into a community-driven initiative that could fundamentally transform Bitcoin's scaling capabilities.

Join the Evolution
If you're passionate about Bitcoin and believe in preserving its core principles while expanding its utility, now is the perfect time to get involved. We're seeking contributors who share our vision of Bitcoin existing in both its solid store-of-value state and its liquid payment-network state - all without compromising security or decentralization.


Learn More  

 
Research Papers:Links
Overpass: Horizontally Scalable, Privacy-Preserving State Channelshttps://eprint.iacr.org/2024/1526
B²O: Overpass Channels on Bitcoin (Comparison with BitVM)https://cryptskii.github.io/B2O.pdf
X:https://x.com/overpassnetwork
Discord Community:https://discord.gg/gYMkBRk6HS


---------------------------------------------------------------BTC---------------------------

Supporting Overpass Development


Development Status & Funding
Overpass is currently in active development as an independent, self-funded project.
While the core research and initial implementation have been completed, we are now
at a crucial stage where additional resources would accelerate development and testing.
The research paper has already undergone intense scrutiny, read 4k+, and peer reviewed.

Ways to Support or Get Involved:

- Technical Contributions (Repo): https://github.com/TPSjunkie/overpass-network

- Opportunity Inquiries: info@overpass.network

- Direct Support (Donations): bc1qtn6ufgqxc3fd8ch8xxzy4ry4epa5mcj0tagexh

* website:  sometime this week will be up

Donations are greatly needed and appreciated. But only until we receive funding and
 then I will be removing the address and asking that no one send them after that point forever.
markm
Legendary
*
Offline Offline

Activity: 3220
Merit: 1172



View Profile WWW
January 15, 2025, 04:11:48 AM
 #2

Wow, sounds good if all true, which I cannot readily check for myself right now.

It seems like something the community ought to be able to have up and running fairly rapidly, is that the case?

Makes me wish I had time right now to download the code and fire up a node or wallet or whatever the components are called.


-MarkM-


Browser-launched Crossfire client now online (select CrossCiv server for Galactic  Milieu)
Free website hosting with PHP, MySQL etc: http://hosting.knotwork.com/
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!