What is BOB?
BOB (Build on Bitcoin) serves as a versatile platform for fostering DeFi and innovation across various domains within the realm of Bitcoin. Whether you're exploring DeFi applications or experimenting with different use cases of Bitcoin, BOB functions as your comprehensive toolkit, catering to diverse needs and facilitating seamless development and exploration within the Bitcoin ecosystem.
At the core, BOB leverages the Ethereum Virtual Machine (EVM) to enable the creation and execution of smart contracts ensuring compatibility with existing developer tooling, wallets, as well as key block explorers and data analytics infrastructure.
How does BOB support the Bitcoin ecosystem?
- Scaling: Bitcoin's scaling strategy involves positioning it primarily as a settlement layer, while most transactions occur on Layer 2 solutions (L2s). These L2s vary in design, offering different trade-offs and forming a spectrum of options. Payment-focused L2s prioritize faster settlement and reduced complexity over general programmability, whereas DeFi-oriented L2s prioritize asset accessibility, protocol composability, and EVM code reuse. Positioned within this spectrum, BOB distinguishes itself as a versatile L2 emphasizing programmability and composability.
- User Experience and Security: Enhancing user experience and security is paramount in blockchain adoption. Existing setups, including multiple wallets and self-custody arrangements, pose challenges even for seasoned users, often leading to failures and security breaches. BOB addresses these issues by introducing features like account abstraction and smart contract wallets, ensuring a seamless user experience while safeguarding user funds through innovations such as social recovery and gasless transactions.
- Privacy: Privacy is a crucial aspect for many use cases, yet public visibility of transactions remains a concern. Recognizing privacy as a fundamental human right and necessity for various applications, BOB's technology stack is engineered to facilitate privacy-preserving alternatives within protocols. This approach ensures users can conduct transactions with confidentiality and security, meeting the diverse needs of the blockchain ecosystem while upholding privacy standards.
- Rollup Layer: As the base layer, BOB can use any EVM rollup or chain. Initially, BOB launches on the OP stack including the upcoming ZK improvements by RiscZero and can be rolled up to Ethereum for 1-click onboarding of users, assets and liquidity. In addition, BOB can inherit Bitcoin security via a novel merged mining protocol (re-staking for Bitcoin).
- EVM Compatibility: BOB enables Bitcoin to seamlessly integrate with the Ethereum Virtual Machine (EVM) and its surrounding ecosystem. At the core, BOB leverages the Ethereum Virtual Machine (EVM) to enable the creation and execution of smart contracts, primarily developed using the Solidity smart contract programming language. The EVM version deployed on BOB will be equivalent to that of Ethereum, ensuring compatibility with existing developer tooling (Hardhat, Foundry, Remix, …), wallets (Metamask, WalletConnect supported wallets,...), best-in-class multisig (Safe), as well as key infrastructure, including block explorers like BlockScout and data analytics (TheGraph, Dune, GoldSky).
What are the top dApps on BOB?
Check the BOB Ecosystem Page to explore projects integrated with the BOB network.
What are the main use cases that BOB supports?
- DeFi
- Micropayments
- NFTs
- DAOs
- Gaming
- Social
