GOAT Network: An Innovative Solution for BTC L2

Recently, the development of the Bitcoin ecosystem has become an important topic in the Web3 field. In the BTC ecosystem construction, Layer 2 scaling solutions play a crucial role. Data shows that in the second quarter of 2024, BTC L2-related projects secured financing of $94.6 million, a quarter-on-quarter increase of 174%, reflecting the industry's high attention to this area.

Currently, there are many BTC Layer2 solutions, but there has not yet been a dominant project that excels both technically and ecologically. Among the various solutions, GOAT Network stands out with its innovation and potential, becoming the first BTC Layer2 project on the entire network to adopt a decentralized sorter and share network ownership.

GOAT Network expands Bitcoin's functionality by implementing Bitcoin Rollup, while introducing the optimistic challenge protocol GOAT-OCP, utilizing BitVM2 for security, and adopting ZKM interleaved Rollup as a universal settlement layer. These technological innovations enable GOAT Network to enhance transaction inclusivity and finality, while ensuring the security of the network's assets.

The project plans to launch a testnet in the near future, with the mainnet expected to go live in the third or fourth quarter of this year. To attract early users to participate, the official will introduce the GOAT Club points program, providing lasting value and fair, sustainable rewards for Bitcoin holders of different scales.

GOAT Network has proposed effective solutions to the three major challenges faced by L2 in terms of decentralization, security, and sustainable returns:

1. Decentralized Sorter: A decentralized sorter has been adopted since the launch of the mainnet, with an initial setup of 7 sorting nodes, each of which must stake BTC to protect network security.

2. Security: Enhanced time-lock and one-time signature technology in Bitcoin's first-layer applications, and the application of zkVM at the Layer 2 level to ensure system security.

3. Sustainable Revenue Model: The decentralized sequencer earns Gas fees in the form of BTC and mining rewards in the form of GOAT tokens by producing blocks, providing security, and being active around the clock.

The long-term goal of the GOAT Network is to become a universal L2 for all L1s, aiming to address the issues of blockchain interoperability and decentralized liquidity. Through its internal Entangled Rollup technology, the GOAT Network plans to achieve messaging and asset transfers across multiple different networks without relying on third-party bridging, thereby ensuring smooth network liquidity and asset security.

The project team is composed of industry veterans, including the technical team leader Professor Stephen Duan, the economics head Professor Redouane Elkamhi, and the Chief Innovation Officer Dr. Eric Wang. All team members are long-term participants and innovators in the Web3 field, providing strong assurance for the project's credibility and future development.

The GOAT Network has confirmed the addition of 5 institutional sequencer nodes, committing 5000 BTC for initial liquidity support. In addition to technical innovations, the project is also dedicated to building a complete ecosystem, planning to launch multiple key DeFi applications simultaneously upon mainnet launch, including DEX, lending, perpetual contract trading platforms, and more.

To encourage early participation, the GOAT Club points program offers three types of points:

• Community Points ( CP ): For regular users holding more than 0.001 BTC.
• Builder Points ( BP ): Rewards developers based on the TVL or gas consumption of the smart contract.
• Node Points ( SP ): Rewarding node operators for their contributions to network security and activity.

The innovative solutions and comprehensive ecological planning of GOAT Network are expected to bring new breakthroughs to the BTC Layer2 field, creating more application scenarios and profit opportunities for Bitcoin holders.