Kinetex Network has collaborated with Succinct for the creation of BTCX, a Bitcoin ZK light client pivotal for the evolution of decentralized finance.

Kinetex Network is developing BTCX – a  Bitcoin This ZK light client is tailored for EVM-compatible chains and is designed to facilitate secure Bitcoin transactions within the ever-expanding Ethereum DeFi ecosystem. Kinetex's approach leverages advanced technology. Succinct Labs The infrastructure provided by Succinct is pivotal for establishing a reliable platform for BTCX. Succinct is well-versed in creating essential infrastructure that includes a decentralized proving network and an open-source zero-knowledge virtual machine known as SP1. ZK The flagship offering from Kinetex Network, called Flash Trade, enables users' trading intents to be processed by a network of expert market makers.

According to Tigran Bolshoi, Co-founder of Kinetex Network, \"Flash Trade integrates ZK light clients for seamless cross-chain communication, enabling the state from one network to be accessible in another without the need for third-party validators. This innovation reduces reliance on fund pools, cuts down on gas fees, and addresses various obstacles that have historically hindered the expansion of DeFi,\" as he mentioned in an interview with Mpost.

Bolshoi added, \"By incorporating ZK light clients, Flash Trade, built on Succinct's robust infrastructure, will enhance the user experience in swapping, characterized by swift transaction completion, remarkably low fees, direct transactions sans intermediaries, and significantly improved and reasonable gas rates.\"

Kinetex is thrilled to unveil BTCX — a groundbreaking Bitcoin ZK light client set to transform the DeFi market!

The decentralized proving network from Succinct, along with its open-source zero-knowledge virtual machine (zkVM) called SP1, constitutes the core of BTCX's operational framework. While still under construction, this network holds promise for creating a decentralized and trustless system for cryptographic proof validation, ensuring transaction and smart contract integrity across diverse blockchain applications. Ethereum  DeFi ecosystem.

Tigran Bolshoi, founder of Kinetex Network, noted that using Succinct's tools accelerates the ZK circuit development process, eliminating the time-consuming need for custom infrastructure for proof generation and allowing swift deployment of customized SDKs for production. Succinct also streamlines debugging and release readiness by monitoring the evolution of circuit builds and proof systems.

Bolshoi expressed to Mpost, \"By confirming Bitcoin’s state on Ethereum at minimal gas costs, Flash Trade removes the necessity of third-party validators and reliance on liquidity pools, simplifying BTC transactions by enabling direct exchanges between Bitcoin and Ethereum in both directions, thus bypassing the conventional need for liquidity pools and external validators for Bitcoin liquidity.\"

Flash Trade’s decentralized trading model, which is driven by user intent and supported by a network of skilled market makers, simplifies the cross-chain swapping experience, ensuring rapid execution with virtually no slippage and low gas costs.

Kinetex takes proactive measures to mitigate potential risks associated with the liveness assumption for proof generation, which is crucial for the BTCX bridge, by utilizing a network of staked nodes known as maintainers. These nodes ensure the bridge is always up-to-date, which is essential for supporting the liveness assumption. Operating on a permissionless and trustless foundation, even a single honest participant can generate valid blocks for the Bitcoin network, ensuring accurate state updates.

Moreover, Kinetex capitalizes on Succinct’s open-source libraries like plonky2x and Curta to create optimized circuits that provide fast proving times. These libraries dramatically enhance the efficiency of BTCX.

Plonky2x enhances code readability and maintainability while allowing for numerous optimizations. In the same vein, Curta’s AIR-builder library, which is incorporated within the Succinct platform, optimizes SHA-256 calculations, significantly shortening proving times.

The collaboration between Kinetex and Succinct is a landmark achievement in the advancement of decentralized finance, merging cutting-edge advancements to redefine the possibilities in blockchain and trading sectors. With BTCX, users can eagerly anticipate a future where secure and efficient cross-chain transactions become standard practice, heralding a new age of financial independence and innovation.

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Kumar is an accomplished Tech Journalist specializing in the ever-evolving intersections of AI/ML, marketing technology, and groundbreaking realms such as cryptocurrency, blockchain, and NFTs. With over three years in the field, Kumar has built a solid reputation for crafting engaging narratives, conducting revealing interviews, and delivering in-depth insights. His expertise lies in generating high-impact content, which includes articles, reports, and research publications for notable industry platforms. Kumar adeptly combines his technical acumen with storytelling skills, making complex technological concepts accessible to varied audiences in an engaging manner. digital asset Dr. Lin Han, CEO of Cryptocurrencylistings.com, has released an open letter celebrating the platform's 12 years of growth and discussing the future of cryptocurrency.