Kinetex is excited to introduce BTCX, a Bitcoin ZK light client built with Succinct Labs. Developed using Succinct’s plonky2x framework and deployed seamlessly through its unified proving stack, BTCX enables EVM-compatible networks to verify the Bitcoin state directly without any centralized actors in between. The creation of this solution is the first step towards integrating the Bitcoin network into Kinetex’s Flash Trade, establishing an incredibly secure level of interoperability between the two largest ecosystems.
The world of blockchain technology is experiencing unprecedented growth, with an influx of innovative ideas, projects, and tokens emerging daily. Still in its nascent stages, though, the cryptocurrency industry faces a multitude of challenges, and many DeFi projects are tirelessly working to unveil their true potential.
The cryptocurrency market is currently dominated by two major cryptocurrencies — Bitcoin (BTC) and Ethereum (ETH). However, astoundingly, there is a lack of established and convenient means of interaction between the respective blockchains. Common solutions for Bitcoin bridging depend on multi-signatures or central authorities and use crypto-economic security, where validators are kept honest through rewards and penalties. However, this method struggles to scale as the cost of corrupting these bridges rises with the amount of locked capital, reducing security over time. Moreover, they have drawbacks, such as the need to place trust in validators, high commissions, and long processing times. For that reason, the industry has been seeking a breakthrough in this field for a long time, and Kinetex is ready to offer precisely that.
The Kinetex team has created a groundbreaking solution that is set to revolutionize cross-chain bridging in DeFi as we knew it before: not secure and decentralized enough. They present innovative ZK light clients that will be first available for Bitcoin. These on-chain light clients allow receiving the state of one network in another network without relying on third-party validators, thereby eliminating the need to store funds in pools, excessive gas costs, and other challenges that have long been hindering DeFi’s growth. Instead, it allows users to make direct cross-chain transfers, the security of which is sustained by the security of the networks themselves. As a result, Kinetex can make cross-chain transactions faster, more accessible, and more secure than ever before.
Succinct played an essential role during the creation of BTCX, supplying core ZK infrastructure for seamless light client deployment and proof generation. The vast array of tools provided by Succinct’s unified proving stack significantly simplifies the development of ZK-based applications and makes their deployment and launch very painless and fast. It offers transparency in the deployment process through progress tracking on the latest circuit builds and proof systems and providing recent proof details. These features streamline debugging and preparing for release to a great extent. By taking advantage of zero-knowledge technology (ZK), Kinetex achieves better scalability, computational efficiency, and reduced centralization, allowing for even more rapid proof generation compared to orthodox cross-chain bridges.
This revolutionary solution will not only unite two worlds that were separated before (namely, Bitcoin and Ethereum) but also will become an indispensable element in Flash Trade, Kinetex’s upcoming intent-based solution. By incorporating light clients, Flash Trade will offer users a new level of swapping experience that includes fast transaction execution, extremely low fees, direct payments without intermediaries, and far more adequate and affordable gas prices. These benefits will enable a truly smooth and cost-effective crypto trading experience.
Kinetex is making its Bitcoin ZK Light Client open-source and public, available for anyone to examine or use. The aim is to encourage the crypto community to participate in the next stage of the DeFi industry, which promises more collaborations and innovations. With Bitcoin ZK light clients, you can validate transactions on your dApps or integrate the Kinetex solution to provide your users with an instant and secure swap of the major crypto assets, leveraging the power of ZK.
