SatoshiVM REVIEW AND TESTNET
Hello friends. Hello from the first content of the week and the day. I hope it's a good week for you all. I just learned that Manta will be listed on January 18th. Let's see how many dollars he will see. :) Let's get back to our topic. Yes, our first testnet today is SatoshiVM... This testnet will not cost us anything, friends.
First some information: Who? What does it do? In-depth review
Bitcoin Taproot upgrade in Nov 2021 allowed more data on each satoshi.
Bitcoin Ordinals protocol launched in Jan 2023.
Programmer Domo enabled minting fungible tokens on Bitcoin two months later. The "ordi" token, the first BRC-20 token, was deployed and Bitcoin wallets swiftly embraced it.
Yet, its limited functionality for project deployment drew criticism from experts.
Why? Developers couldn't deploy smart contracts on the Bitcoin Blockchain.
Or so we thought...
SatoshiVM serves as a bridge between the EVM ecosystem and Bitcoin, allowing the Bitcoin ecosystem to issue assets and develop applications.
Before we know it, Bitcoin will provide numerous use cases similar to Ethereum. It has evolved beyond being just a coin!
Introducing SatoshiVM
SatoshiVM is a "ZK Rollup”. It is a blockchain whose security relies on Bitcoin's consensus mechanism.
Let's start with some technical features.
ZK EVM: Unleash the power of SatoshiVM, a ZK Rollup that revolutionizes off-chain computations.
Now you can interact with it just like Ethereum!
Developers, get ready to build and deploy projects on top of SatoshiVM, blazing a trail in innovation.
ZK Rollup: Boosting security while increasing efficiency.
SatoshiVM harnesses Rollup technology, bundling multiple transactions into a single batch
By validating them as a single transaction on the Bitcoin main network, SatoshiVM ensures top-notch security without compromise
SatoshiVM unleashes transaction data on the Bitcoin main network.
Verify computations executed off the Bitcoin main network.
SatoshiVM uses native BTC as fuel for EVM transactions.
Layers:
Settlement Layer: This layer is responsible for data availability, ordering, and validation of proofs for the SatoshiVM chain.
Bitcoin serves as the settlement layer, while bridges and rollup scripts are deployed on the Bitcoin network.
Sequencing Layer:
This layer consists of an execution node responsible for executing transactions submitted to the SatoshiVM sequencer.
It also executes transactions submitted to the L1 bridge script, generating L2 blocks.
Proving Layer:
features a coordinator that assigns proof tasks to provers and relays the resulting proofs for finality verification on Bitcoin by the Rollup node.
It also houses a prover pool, responsible for generating validity proofs that ensure L2 transaction correctness.
I think this is too much information. Better now let's move on to the testnet :)
For newbies, today you will also learn how to use UniSat wallet.
On your desktop, go to http://unisat.io
Download from Chrome, Firefox or Safari.
Install the app, create a password and create your wallet.
Write down your seed phrase, of course.
To configure the wallet, go to settings.
Address type: Native Segwit (P2WPKH). Must be this one.
Network: TESTNET
Now, let's get some testnet tokens.
There are two websites you can use.
Coinfaucet or Bitcoin faucet.
When I tried Coinfaucet, their website was down.
For this thread, I'll use the Bitcoin faucet.
Go to https://bitcoinfaucet.uo1.net/send.php
Copy your Unisat address from the wallet and paste here.
Edit the number to 0.00005 so it’ll be enough.
Go to https://bridge.satoshivm.io
Connect both your Metamask and UniSat wallets.
Send some tokens.
Confirm...
Monitor the progress of your transaction. Might take 30-60 minutes.
After the deposit is completed
Go to https://testnet.svmscan.io
check the destination address balance via SatoshiVM Explorer
That's all I can tell you for now, friends. I hope the content was useful to you. I wish you all a good day...
