GOAT Network: The innovative solution for Bitcoin Layer 2

In recent years, the development and improvement of the Bitcoin ecosystem have made the ecological construction around BTC an important topic in the Web3 field. Against this backdrop, Layer 2 built on BTC has become an indispensable and crucial part of the BTC ecosystem. Data shows that in the second quarter of 2024, BTC L2 related projects received financing of 94.6 million USD, a quarter-on-quarter increase of 174%, reflecting strong anticipation in the industry for BTC Layer 2.

Currently, although there are many BTC Layer 2 solutions, there are no projects that are outstanding enough in both technology and ecology. This field is still in a highly competitive stage, and high-quality projects have the opportunity to become industry leaders, attracting a large number of users and funds.

Among the numerous BTC Layer 2 solutions, GOAT Network stands out with its innovation and potential. As the first BTC Layer 2 project to adopt a decentralized sorter and share network ownership, GOAT Network's ultimate goal is to become a universal L2 applicable to all L1s.

Overview of GOAT Network

The GOAT Network expands the functionality of Bitcoin by implementing a Bitcoin Rollup, with its network security derived from the underlying Bitcoin blockchain. The network introduces the optimistic challenge protocol GOAT-OCP and utilizes BitVM2 to ensure security, while employing ZKM intertwined Rollup as a general settlement layer to enhance transaction inclusivity and finality. Additionally, the GOAT Network employs a decentralized sequencer to safeguard network stability and asset security.

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

Addressing the Three Major Challenges Faced by Layer 2

The GOAT Network has proposed the following solutions to address the common issues of decentralization, security, and sustainable profits faced by Layer 2.

1. Decentralized Sorter: The GOAT Network has adopted a decentralized sorter since its mainnet launch, initially consisting of 7 sorter nodes, each required to stake BTC to secure the network. Currently, 5 founding sequencer nodes have been confirmed, including several well-known institutions, committing over 5,000 BTC in liquidity support.

2. Enhanced Security: On the Bitcoin Layer 1, the GOAT Network applies an enhanced version of Bitcoin time-lock and one-time signature technology to protect the locked BTC assets. On the Layer 2 level, the ZKM-developed zero-knowledge virtual machine zkVM is utilized to ensure the system has the native security standards of the Bitcoin base layer.

3. Sustainable Revenue Model: Decentralized sequencers can earn Gas fees in the form of BTC and mining rewards in the form of GOAT tokens by producing blocks, providing security, and maintaining active presence around the clock. This mechanism offers various participants the opportunity to achieve sustainable revenue.

General Layer2 Vision

The goal of GOAT Network is to become a universal Layer 2 applicable to all L1s. In addition to Bitcoin, there are plans to integrate ecosystems such as Ethereum, TON, and Cosmos in the future. Through its internal Entangled Rollup technology, GOAT Network aims to achieve seamless connections between different blockchains, addressing the issues of interoperability and liquidity fragmentation, while avoiding the security risks associated with traditional third-party bridges.

Team Background

The GOAT Network is composed of a group of experienced professionals:

• The technical team leader, Professor Stephen Duan, once 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 and DeFi.
• Chief Innovation Officer Dr. Eric Wang holds a PhD in Computer Science from the University of Waterloo and designed the sustainable BTC profit model for GOAT.

Ecosystem and Participation Opportunities

GOAT Network is building an organic ecosystem, planning to launch multiple key DeFi applications such as DEX, lending, perpetual contract trading platforms, etc. when the mainnet goes live.

To encourage early participation, GOAT Network has launched the GOAT Club Points Program, which includes:

• Community Points ( CP ): Holding 0.001 BTC will allow you to obtain
• Builder Points (BP): Earned based on TVL or gas consumption from smart contracts.
• Node Points (SP): Node operators obtain based on the blocks produced.

Holders of these points will be eligible for potential airdrop rewards in the future.

With the upcoming launch of the GOAT Network mainnet, the industry expects it to become the leading BTC Layer 2 project, bringing more practical scenarios and profit opportunities for Bitcoin holders.