Renowned Bitcoin developer Burak, well-known for his contributions to the Lightning Network, has introduced a revolutionary layer 2 solution called “Brollups.” This innovative technology is aimed at expanding Bitcoin’s DeFi capabilities by supporting a wide range of use cases, including NFT sales and token trading on decentralized exchanges (DEXs), all without the need for a hard fork or a new token.
According to a recent update on Trading View, Burak is dedicated to bringing more DeFi functionalities to Bitcoin through Brollups. This new solution combines transactions and is overseen by operators who link Bitcoin transactions periodically on the Bitcoin Virtual Machine, thereby boosting Bitcoin’s scalability and utility within the DeFi realm.
Currently in the design phase, as highlighted in a recent YouTube video by CNF, Brollups are anticipated to have a testnet version released later this year. In a Medium post dated June 21, Burak emphasized the seamless integration of Brollups with Bitcoin, enabling bundled transactions to be executed effortlessly on the network. He emphasized the potential of Brollups for verifiable, scalable, and enforceable DeFi applications.
Burak’s innovative approach with Brollups has garnered praise from the Bitcoin community, as it does not require a hard fork or the introduction of a new token. His past work includes exploiting the Lightning Network in October 2022, leading to an emergency update for Lightning Network node operators due to an unintended consequence of the Taproot upgrade.
As Brollups progress towards a testnet release, the Bitcoin community eagerly awaits the enhanced capabilities this solution is set to offer. Bitcoin is currently trading at $61,357.05, with a decrease of 4.69% in the past day and 6.57% in the past week. Stay updated with the latest Bitcoin news and subscribe to our daily newsletter for insightful content.