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dWallet and Avail Collaborate to Enable Native Bitcoin Rollups

Apr 2, 2024 at 06:14

dWallet Network and Avail have joined forces to introduce a groundbreaking integration, offering Bitcoin users access to smart contract functionality directly on any rollup within Avail’s data availability ecosystem. This integration eliminates the need for bridging or wrapping BTC, ensuring users retain complete control over their assets.

With this partnership, dWallet’s smart contracts, leveraging Avail’s data availability solution, will be able to generate Bitcoin signatures for the first time, maintaining users’ ownership of their BTC throughout the process.

Omer Sadika, CEO of dWallet, emphasized that their Bitcoin rollup solution operates without the necessity for bridging or wrapping, addressing concerns related to security vulnerabilities and user ownership compromises associated with existing cross-chain solutions.

He highlighted the longstanding skepticism within the Bitcoin community towards layer-2 solutions, often criticized for engaging in “affinity scamming” tactics, where users are persuaded to exchange their BTC for other tokens through bridging or wrapping mechanisms.

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To address these issues, Sadika stressed the importance of programmable native BTC, facilitated by dWallet’s decentralized MPC infrastructure. This infrastructure enables a user’s participation in Bitcoin transactions while ensuring cryptographic guarantees against collusion or hacking attempts.

The collaboration aims to leverage dWallet’s MPC technology to enhance Bitcoin’s functionalities by enabling the creation of native rollups. This empowers smart contracts to execute various operations, including custody, swapping, lending, staking, and more, directly with native BTC, without the need for token bridging or wrapping.

Anurag Arjun, co-founder of Avail, highlighted the significance of enabling BTC to be utilized programmatically on other blockchains via a trust-minimized approach, emphasizing Bitcoin’s robust security features and its potential to serve as a foundational layer for data availability.

With dWallet technology facilitating Solidity smart contracts on Avail rollups to generate Bitcoin signatures, developers gain unprecedented flexibility in managing dWallets within the ecosystem. Moreover, the integration ensures that logic enforcement on Avail rollup smart contracts requires user approval, safeguarding against collusion and asset theft.

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