skip to Main Content
bitcoin
Bitcoin (BTC) $ 65,809.63 1.08%
ethereum
Ethereum (ETH) $ 2,697.57 2.55%
tether
Tether (USDT) $ 1.00 0.01%
bnb
BNB (BNB) $ 608.13 1.93%
solana
Solana (SOL) $ 157.80 1.56%
usd-coin
USDC (USDC) $ 1.00 0.00%
xrp
XRP (XRP) $ 0.589203 0.23%
staked-ether
Lido Staked Ether (STETH) $ 2,696.93 2.58%
dogecoin
Dogecoin (DOGE) $ 0.123728 4.47%
the-open-network
Toncoin (TON) $ 5.98 3.36%

Bitcoin Rollup Citrea Deploys BitVM-Based Bridge ‘Clementine’ on Testnet

  • Zero-knowledge rollup Citrea has deployed its BitVM bridge on the Bitcoin testnet.

  • Clementine harnesses BitVM, a computing paradigm designed to allow Ethereum-style smart contracts on Bitcoin and which could also pave the way for zero-knowledge computations.

Bitcoin zero-knowledge rollup Citrea has deployed its BitVM-based bridge Clementine to the Bitcoin testnet.

Citrea, which raised $2.7 million in seed funding led by Galaxy in February, aim is to use Bitcoin as a settlement layer to make it “the foundation for the world’s finance,” according to an emailed announcement on Tuesday.

In a blog post in March, the Citrea team described Clementine as a “trust-minimized two-way peg program,” essentially a way of locking up bitcoin on the main chain and then minting an equivalent bitcoin token for use on Citrea; to reverse the process, that token is burned and the bitcoin can then be withdrawn on the Bitcoin blockchain.

Citrea is compatible with the Ethereum Virtual Machine (EVM), the smart-contracts-executing software that powers the Ethereum protocol, similar to an operating system on a computer.

“Citrea is an EVM-compatible layer, meaning all the applications on Ethereum can simply deploy on Citrea without having to change anything,” Orkun Mahir Kılıç, CEO of Citrea builder Chainway Labs, told CoinDesk in an interview.

BitVM is a conduit that can connect rollups to the Bitcoin network, allowing transactions to be settled away from the main blockchain to mitigate congestion and fees. The basic setup of BitVM involves using cryptography to compress programs into sub-programs that can then be executed within Bitcoin transactions, according to a white paper published by Linus along with five co-authors.

Disclosure

Please note that our

privacy policy,

terms of use,

cookies,

and

do not sell my personal information

has been updated

.

CoinDesk is an

award-winning

media outlet that covers the cryptocurrency industry. Its journalists abide by a

strict set of editorial policies.

In November 2023

, CoinDesk was acquired

by the Bullish group, owner of

Bullish,

a regulated, digital assets exchange. The Bullish group is majority-owned by

Block.one; both companies have

interests

in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.

CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley

Leave a Reply

Loading data ...
Comparison
View chart compare
View table compare
Back To Top