Bsquared Network
Overview
Status
Mainnet
Type
Alt. Rollup
Fee Token
WBTC
BTC Supply
₿0
The current Bsquared Network mainnet consists of two different chains. The parent chain is a fork of Ethermint. The rollup chain is a fork of of an Ethereum rollup stack.
CUSTODY
DATA AVAILABILITY
OPERATORS
FINALITY ASSURANCE
Trust Assumption Review
BTC Custody
Very High
🛑
Bsquared WBTC
Users deposit funds into a MPC protocol managed by Bsquared Network and a custodian. Less than 5, individual signers have been publicly announced
Previous blog posts have stated that when users deposit funds into Bsquared, they deposit funds into a MPC wallet managed by the Bsquared Network team and Cobo, a institutional custodian. Information on how many signers participate in this MPC scheme is not available. Bsquared has stated that more players are being added into this custody scheme.
Note that we are unable to verify the participants in this model - Source
Note that we are unable to verify the participants in this model - Source
Data Availability
Very High
🛑
DA requirement is fulfilled by permissioned validators
Sequencer batches are posted to the Bsquared Network L1. This network consists of a permissioned validator set who is responsible for making the data readily available. The identities of these operators has not been disclosed.
Network Operators
Very High
🛑
Both the rollup chain and parent chain are run by federated, centralized parties
Bsquared Network’s implementation has a single sequencer that posts sequencer batches to its network of three L1 validators.
Finality Guarantees
Very High
🛑
Finality is guaranteed by a permissioned validator set
Bsquared receives no settlement assurances from Bitcoin. Bsquared transaction finality is determined by a centralized entity who proposes state updates to the permissioned L1 chain.
Bitcoin Security
Unilateral exits not possible
Users cannot unilaterally exit from Bsquared Network. Users trust a centralized bridge program with the custody of their Bitcoin.
The protocol does not enable MEV on Bitcoin. Users trust a centralized operator to not reorder their transactions.
Since Bsquared has no relationship with Bitcoin miners, it does not introduce MEV on the Bitcoin base layer. Users trust that the Bsquared Network zkEVM sequencer will not reorder transactions to extract MEV.
An alternative token exists, but is not being used for network security
Bsquared Network has issued a token with the ticker BSQ on its L1 protocol. It has a supply of 210,000,000. One address owns the majority of this supply. Bsquared Network L1 validators do not currently stake this token.
Bsquared Network does not contribute to the security budget
Bsquared Network’s current mainnet does not pay any fees to Bitcoin miners.
🚨 Project is not a sidesystem
This project will be moved to the Alternative category
Projects that do not meet our requirements to be considered a sidesystem will be moved to the Alternative category. They have until June 30th to implement the technical requirements to be considered a sidesystem.
Withdrawals
Users can withdraw funds if permitted by centralized operators
Users can withdraw their funds from Bsquared Network back to Bitcoin via two, centralized bridge providers. Information on the signers of these bridges is unavailable.
Technology
EVM-Compatible
Bsquared Network is EVM-compatible. The Ethereum Virtual Machine is software responsible for smart contract execution for a number of blockchains, namely the Ethereum Network. It uses Solidity/Vyper as its code and is the dominant environment for smart contract execution in the cryptocurrency ecosystem.
Use Cases
Onchain applications
Onchain applications are supported. Onchain applications including borrowing and lending protocols, onchain exchanges (commonly referred to as decentralized exchanges), and more. These applications are supported with more expressive smart contract environments.
Source Code
Node software code is open-source
The node software is open-source.
Knowledge Bits
Learn more