GOAT Network: Innovative Solution for Bitcoin Layer2

The development and improvement of the Bitcoin ecosystem have made the ecological construction around BTC an important focus in the Web3 field. In this larger context, Layer 2 built on BTC has become an indispensable key link in ecological construction. Data shows that BTC L2 related projects raised $94.6 million in the second quarter of 2024, a quarter-on-quarter increase of 174%, reflecting strong industry expectations for BTC Layer 2.

Currently, there are many BTC Layer2 solutions, but there are no projects that are outstanding in both technology and ecology. This field is still in a highly competitive stage, and quality projects have the opportunity to become industry leaders, attracting a large number of users and funds.

Among the numerous BTC Layer2 solutions, GOAT Network demonstrates significant innovation and potential. It is the first BTC Layer2 project to adopt a decentralized sequencer and share network ownership, with the ultimate goal of becoming a universal L2 applicable to all L1.

GOAT Network Overview

GOAT Network expands the functionality of Bitcoin by implementing Bitcoin Rollup, with network security derived from the underlying Bitcoin blockchain (L1). It introduces the optimistic challenge protocol GOAT-OCP and leverages BitVM2 to ensure security, while using ZKM interleaved Rollup as a universal settlement layer to enhance transaction inclusiveness and finality. GOAT Network also employs a decentralized sequencer to protect network stability and ensure asset security.

The GOAT testnet is set to launch soon, with the mainnet expected to go live in the third or fourth quarter of this year. The official team will introduce the GOAT Club points program to provide lasting value and fair, sustainable rewards for Bitcoin holders of different sizes.

Addressing the Main Challenges Facing L2

The GOAT Network has proposed effective solutions to the three major challenges commonly faced by L2 networks: decentralization, security, and sustainable returns.

1. Decentralized Sorter: GOAT will adopt a decentralized sorter from the launch of the mainnet, initially setting up 7 sorter nodes, each required to stake BTC to secure the network. Currently, 5 founding sequencer nodes have been confirmed, committing to provide over 5,000 BTC in liquidity, with a goal of reaching 8,000-10,000 BTC at launch.

2. Security: At the first layer of Bitcoin, the GOAT Network applies an enhanced version of the Bitcoin time-lock and one-time signature technology to protect locked BTC assets. In Layer 2, the zero-knowledge virtual machine zkVM developed by ZKM is applied, giving the system the native security standards of the Bitcoin base layer.

3. Sustainable Revenue Model: The decentralized sequencer can earn 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. This mechanism provides various participants with the opportunity to obtain sustainable revenue.

General Layer2 Vision

The goal of the GOAT Network is to become a universal L2 for all L1s, showcasing its ambition and foresight. Bitcoin is the first ecosystem integrated into the GOAT Network, with plans to integrate other mainstream public chains in the future. Through its internal Entangled Rollup technology, the GOAT Network is committed to solving the interoperability and decentralized liquidity issues of blockchain while avoiding the security risks of traditional third-party bridges.

Team Background

The core team of GOAT Network is composed of industry veterans.

• The technical team leader Professor Stephen Duan founded Baidu Blockchain and Eigen Network.
• The head of economics, Redouane Elkamhi, is a finance professor at the Rotman School of Management at the University of Toronto, specializing in strategic asset allocation, fund management, and DeFi.
• Chief Innovation Officer Dr. Eric Wang holds a PhD in Computer Science from the University of Waterloo and designed the sustainable BTC revenue model for GOAT.

GOAT Club Points Program

The GOAT Club points program offers early participants the opportunity to obtain airdrop eligibility, including three types of points:

1. Community Points (CP): Holding 0.001BTC allows you to earn long-term rewards and points.
2. Builder Points (BP): Additional rewards based on TVL or gas consumption through smart contracts.
3. Node Points (SP): Node operators earn points based on the blocks produced.

The innovative approach and strong team background of GOAT Network make it expected to become a leading project in the BTC Layer 2 field, bringing more practical scenarios and profit opportunities for Bitcoin holders.