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\u201cNow we can scale Bitcoin,\u201d says cofounder Orkun Kilic. Citrea aims to address security budget concerns as well as the lack of DeFi on the world\u2019s most valuable blockchain. <\/p>\n
Bitcoin continues to move past its pet rock phase.<\/p>\n
Leveraging zero-knowledge technology, a new scaling solution dubbed Citrea launched on Feb. 6, aiming to address the lack of DeFi<\/a> on the industry\u2019s oldest blockchain. ZK rollups<\/a> work by bundling hundreds of transactions into a single transaction which then gets posted to the base chain.<\/p>\n \u201cInstead of trading BRC-20s, we can now build DeFi on Bitcoin<\/a>,\u201d said Orkun Kilic, co-founder of Chainway Labs, the development team behind Citrea.<\/p>\n He told The Defiant <\/em>that Citrea will help create a speedier and cheaper Bitcoin while also addressing the security budget concerns. \u201cCitrea contributes to Bitcoin’s long-term health by paying lots of fees to miners, increasing the hashrate and security,\u201d Kilic said.<\/p>\n <\/p>\n Citrea makes use of BitVM, a computing paradigm that offers Turing completeness on Bitcoin. BitVM allows for smart contract programmability, opening the door to DeFi applications not seen before on the network.<\/p>\n ZK rollups are popular in the Ethereum<\/a> ecosystem, where they are trustless. On Citrea, they are trust-minimized due to some limitations from BitVM. However, according to Kilic, they only require one party to stay honest to maintain the security model.<\/p>\n