Finance
Avail Partners With dWallet Network To Introduce Native Bitcoin Rollups to Web3
Global Banking & Finance Review®
Company
Dubai, United Arab Emirates, April 2nd, 2024, Chainwire
Dubai, United Arab Emirates, April 2nd, 2024, Chainwire
Following the integration, users will be able to natively manage their BTC on any rollup in the Avail ecosystem without relinquishing control over their digital assets
Avail, a modular blockchain solution designed to unify Web3 and optimize data availability (DA) for highly scalable and customizable applications, has partnered with dWallet Network, a pioneering non-collusive, decentralized multi-chain layer, to bring programmable native Bitcoin to rollups in the Avail ecosystem.
Leveraging the newly unveiled dWallet primitive, smart contracts using rollups built on Avail DA will be able to programmatically manage native BTC for the first time while preserving user ownership. This marks a paradigm shift from emerging Bitcoin L2 solutions that predominantly rely on collusive and often risky cross-chain solutions, such as bridges, where the user must sacrifice ownership of their BTC.
“Allowing BTC to be used programmatically on other blockchains via a trust-minimized approach is a clever approach to increasing BTC adoption.” said Anurag Arjun, co-founder Avail. “Together with dWallet, we can enable Layer-2 chains or rollups on top of the Bitcoin network. Bitcoin represents a superb base layer from the DA perspective, with the highest security available in the ecosystem. As a result, the dWallet integration will enable users to leverage arbitrary execution and logic to secure their BTC via a decentralized multiparty computation (MPC) solution.”
In essence, the collaboration aims to harness dWallet’s MPC infrastructure to enhance Bitcoin’s capabilities by enabling the creation of native bitcoin rollups — ushering in more efficient and secure transactions and operations on the Bitcoin blockchain and supporting a wider range of functionalities beyond simple transactions.
The integration with the dWallet Network, coupled with the ability to control dWallets from a smart contract on any Avail rollup, was made possible through Avail Nexus, a zero-knowledge coordination rollup embedding validity-proof based light clients and execution proof aggregation. This pivotal move towards the unification of Web3 will also enable developers to power Avail Fusion’s borrowed security from native assets of the most mature ecosystems, including BTC, ETH, and others.
Furthermore, the dWallet Network integration will facilitate the Fusion Security model when it goes live, empowering users to securely hold their BTC, ETH, or other assets in dWallets and stake them to bolster the safety of the Avail ecosystem, all while maintaining ownership of their native assets. This introduces the first native multi-chain staking/restaking solution aimed at securing the consensus of a different blockchain.
To implement the dWallet primitive, the dWallet Network utilizes 2PC-MPC, the state-of-the-art protocol invented by its team. This industry-first multiparty protocol enables the generation of an ECDSA signature in a non-collusive way, requiring participation from both the end-user and a significant number of nodes, the number of which could potentially reach hundreds or thousands.
dWallet technology allows a Solidity smart contract on an Avail rollup to create Bitcoin signatures and enables developers to manage a dWallet. Meanwhile, the dWallet Network mandates approval from the Avail rollup smart contract for logic enforcement, requiring users to finalize the signature to prevent collusion and asset theft. Whether for Web3 applications in custody, DeFi, DAOs, gaming, or other domains, any protocol on an Avail rollup can leverage dWallets for enhanced functionality and secure interoperability.
“We are excited to team up with Avail because our visions of a unified Web3 have so much in common, with both companies striving to bring countless disparate ecosystems together,” noted Omer Sadika, co-founder of dWallet Network. “We firmly believe that the future of Web3 is multi-chain, not cross-chain, and together with Avail, we will continue to work tirelessly on making this vision a reality.”
This latest integration aligns perfectly with Avail’s mission to unify Web3, for which it’s already employing a comprehensive full-stack architecture that comprises three innovative solutions — DA, Nexus, and Fusion Security — to help usher in the rollup future and solve the growing scalability pains of the blockchain industry.
Avail DA stands as the initial cornerstone element of the Avail trinity, offering expansive blobspace for rollup developers and serving as a foundational layer for a diverse and vibrant ecosystem of rollups. Avail Nexus, aimed at unifying the ecosystem beyond the blockchains built atop Avail’s DA layer, employs Avail DA as the trust anchor for ecosystem-wide coordination.
Lastly, Fusion Security will offer additional protection to an expanding network of rollups and blockchains, thus enhancing Avail’s consensus mechanism. Supercharging the Avail trinity with dWallets accelerates the unification of Web3, addresses issues of fragmentation, and paves the way for a completely integrated, secure, and native experience across all Web3 ecosystems.
About Dwallet Network
dWallet Network is the home of dWallets – programmable and transferable signing mechanisms that live on-chain. dWallet Network empowers builders on L1s and L2s to utilize dWallets as a building block for managing assets & enforcing logic across all of Web3 in a decentralized and noncollusive way.
For more information, users can visit: https://dwallet.io/
About Avail
Avail is building a unification layer to solve rollup fragmentation and scalability. Avail addresses this from first principles with its three phase roadmap, the Avail Trinity. Starting with Avail DA, the validity proven data availability layer that scales with demand, followed by Nexus for permissionless unification, and Fusion for shared security. Blockchain and rollup developers can submit transaction data to Avail DA today and inherit the security and benefits of Avail’s KZG commitments and light clients with data availability sampling. Start building today, because the unification of web3 is coming!
For more information, users can visit: https://www.availproject.org/
Siva Sagiraju
Marketing lead
dWallet Network
siva@dwalletlabs.com
Cryptocurrency is a digital or virtual currency that uses cryptography for security, making it difficult to counterfeit. It operates on technology called blockchain.
Native Bitcoin rollups are a layer-2 scaling solution that allows Bitcoin transactions to be processed off the main blockchain, improving scalability and transaction speed while maintaining security.
A smart contract is a self-executing contract with the terms of the agreement directly written into code, enabling automated and trustless transactions on a blockchain.
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