GOAT Network: Innovative Bitcoin Layer2 Solution

The development and improvement of the Bitcoin ecosystem have made the ecological construction around BTC an important topic in the Web3 field. Against this background, Layer 2 solutions built on BTC have become a crucial part of ecological construction. Data shows that BTC L2 related projects received substantial funding support in the second quarter of 2024, reflecting strong expectations in the industry for BTC Layer 2.

Currently, the BTC Layer2 field is still in a highly competitive stage, and there are no dominant projects that excel in both technology and ecology. Among many solutions, GOAT Network stands out with its innovation and potential, becoming the first BTC Layer2 project in the entire network to adopt a decentralized sorter and share network ownership.

GOAT Network expands Bitcoin's functionality by implementing Bitcoin Rollup, with its security derived from the underlying Bitcoin blockchain. The network introduces the optimistic challenge protocol GOAT-OCP and leverages BitVM2 and ZKM intertwined Rollup technology to enhance transaction inclusion and finality. Meanwhile, a decentralized sequencer is employed to ensure the stability of the network and the safety of assets.

The GOAT Network plans to launch its testnet soon, with the mainnet expected to go live in the third or fourth quarter of this year. To attract user participation, the official will introduce the GOAT Club points program, providing lasting value and fair rewards for Bitcoin holders of different scales.

The project proposes innovative solutions to the three major challenges faced by Layer2:

1. Decentralized Sequencer: GOAT will adopt a decentralized sequencer from the launch of the mainnet, initially featuring 7 sequencer nodes, each requiring the staking of BTC to secure the network. Currently, 5 founding sequencer nodes have been confirmed, and it is expected to have liquidity support of 8000-10000 BTC at launch.

2. Security: The GOAT Network utilizes enhanced time-lock and one-time signature technology on the Bitcoin Layer 1, while applying the zero-knowledge virtual machine zkVM developed by ZKM on Layer 2, ensuring that the system meets the native security standards of the Bitcoin base layer.

3. Sustainable Income Model: Decentralized sequencers can earn gas fees in the form of BTC and mining rewards in the form of GOAT tokens by producing blocks, providing security, and being active around the clock. This mechanism offers various participants the opportunity to achieve sustainable income.

The vision of GOAT Network is to become a universal Layer2 for all L1s. In addition to Bitcoin, it also plans to integrate ecosystems such as Ethereum, TON, and Cosmos in the future, aiming to achieve seamless connectivity between any L1 and L2, addressing the issues of blockchain interoperability and fragmented liquidity.

The project team is composed of industry veterans, including the technical team leader Professor Stephen Duan, the economics head Professor Redouane Elkamhi, and the Chief Innovation Officer Dr. Eric Wang, among others. All team members are long-term participants and innovators in the Web3 field, providing strong assurance for the project's credibility and future development.

GOAT Network is building a comprehensive ecosystem, planning to launch multiple key DeFi applications simultaneously at the mainnet launch, including DEX, lending, Perp DEX, and BRC-20 trading platform. In addition, the GOAT Club points program offers early participants the opportunity to receive potential airdrops, including three types of community points, builder points, and node points.

As the GOAT Network mainnet approaches launch, the industry anticipates it to become a leading project for BTC Layer2, providing Bitcoin holders with more application scenarios and profit opportunities.