GOAT Network: An Innovative Solution for Bitcoin Layer 2

With the continuous development of the Bitcoin ecosystem, the ecological construction around BTC has become an important trend in the Web3 field. Against this backdrop, Layer 2 solutions built on BTC have become a crucial part of ecological construction. Data shows that BTC L2 projects raised $94.6 million in the second quarter of 2024, a quarter-on-quarter increase of 174%, reflecting strong expectations within the industry for BTC Layer 2.

Currently, there are many BTC Layer 2 solutions, but there are no projects that are excellent enough in both technology and ecology. This sector is still in the competitive stage, and any high-quality project has the opportunity to become an industry leader, attracting a large number of users and funds.

Among the many BTC Layer2 solutions, GOAT Network has demonstrated tremendous innovative potential. It is the first BTC Layer2 project in the entire network to adopt a decentralized sequencer and shared ownership of the network, with the ultimate goal of becoming a universal L2 for all L1s.

GOAT Network Introduction

GOAT Network expands Bitcoin's functionality by implementing Bitcoin Rollup, with the network's security derived from the underlying Bitcoin blockchain. It introduces the optimistic challenge protocol GOAT-OCP and utilizes BitVM2 to ensure security, along with ZKM intertwined Rollup as a universal settlement layer, thereby enhancing transaction inclusivity and finality. At the same time, a decentralized sequencer is adopted to protect the network's stability and ensure asset security.

The GOAT testnet is about to launch, with the mainnet expected to go live in the third or fourth quarter of this year. The official team will introduce the GOAT Club points program to provide lasting value and fair, sustainable rewards for various Bitcoin holders.

Addressing the Three Major Challenges Facing L2

GOAT Network has proposed effective solutions to the three major challenges of decentralization, security, and sustainable returns:

1. Decentralized Sequencer: GOAT will adopt a decentralized sequencer from the first day of the mainnet launch, initially having 7 sequencer nodes, each of which needs to stake BTC to protect the network. Currently, 5 founding sequencer nodes have been confirmed, including several well-known institutions, which have committed over 5,000 BTC in liquidity support.

2. Security: The GOAT Network uses an enhanced version of Bitcoin's time-lock and one-time signature technology on the first layer to protect locked BTC assets. On Layer 2, it employs the zero-knowledge virtual machine zkVM developed by ZKM, giving the system the native security standards of the Bitcoin base layer.

3. Sustainable Revenue 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 maintaining active status around the clock. This mechanism provides various participants with the opportunity to obtain sustainable income.

Become a universal Layer2 for all L1s

The goal of the GOAT Network is to become the universal L2 for all L1s, showcasing its ambition and foresight. Bitcoin is the first ecosystem integrated into the GOAT Network, with plans to integrate other mainstream blockchains in the future. Its vision is to enable any L1 to seamlessly connect to any L2, addressing issues of interoperability and decentralized liquidity in blockchain, while avoiding the security risks of traditional third-party bridges.

GOAT Network uses an internal Entangled Rollup technology to aggregate transaction states, message passing, and ZKP from a source chain, and verifies them on another chain, achieving secure message passing and asset transfer across multiple networks.

Team Background

The GOAT Network team is composed of experienced professionals:

• The leader of the technical team, Professor Stephen Duan, previously founded Baidu Blockchain and Eigen Network.
• The head of economics, Redouane Elkamhi, is a professor of finance at the Rotman School of Management at the University of Toronto, specializing in strategic asset allocation and DeFi.
• Chief Innovation Officer Dr. Eric Wang holds a PhD in Computer Science from the University of Waterloo and designed the sustainable BTC profit model for GOAT.

GOAT Club Points Program

The GOAT Club points program offers early participants the opportunity to receive future airdrops. The program includes three types of points:

1. Community Points (CP): Hold 0.001 Bitcoin to gain long-term benefits and points.
2. Builder Points (BP): Rewards based on TVL or gas consumption from smart contracts.
3. Node Points (SP): Node operators earn points based on the blocks produced.

GOAT Network's innovative solutions and strong team background provide a solid foundation for its development in the BTC Layer2 field. With the mainnet about to go live, GOAT is expected to become a leading project in BTC Layer2, bringing more application scenarios and profit opportunities for Bitcoin holders.