LayerEdge Unveils Pioneering Timestamping Protocol on Bitcoin Using Zero-Knowledge Aggregated Proofs

LayerEdge HMDA is a modular timestamping protocol for settling data on Bitcoin via existing data availability solutions. The protocol is designed as a plugin that can be compatible with multiple frameworks & DA layers, enabling Bitcoin as a source of truth for PoS-based chains and rollups to enhance integrity and security

LayerEdge, a Web3 startup building a modular HMDA (Honest Majority Data Availability) to settle data on Bitcoin, has announced the launch of its timestamping protocol on Bitcoin. This marks the first time that timestamps are being pushed on Bitcoin using ZK by a timestamping service.

The protocol is designed to securely verify zero-knowledge/validity proofs and aggregate them to be timestamped on Bitcoin, slashing the costs by 10x. LayerEdge’s HMDA is a verification layer that leverages Bitcoin’s PoW security without the limitations of Bitcoin. The protocol is set to provide high throughput, cost-efficient proof verification with low latency.

Key Highlights:

LayerEdge has revealed its pioneering achievement in developing the first timestamping protocol on Bitcoin using zero-knowledge aggregated proofs.

The protocol is designed to push proofs using ZK by timestamping them on Bitcoin.

Timestamping on Bitcoin is typically achieved through a direct on-chain transaction, which can be prohibitively expensive.

LayerEdge's protocol addresses this challenge by using zero-knowledge aggregated proofs.

This technique drastically reduces the cost of timestamping by orders of magnitude.

For instance, typical annual timestamping fees using standard methods can incur substantial fees, while LayerEdge's solution reduces these costs to approximately 10% of the original expense.

LayerEdge has integrated its protocol with leading blockchain frameworks and Data Availability (DA) layers.

These integrations include Arbitrum Orbit Stack and Avail DA, ensuring that LayerEdge's timestamping protocol is compatible with a wide range of blockchain platforms.

This enhances the scalability and versatility of LayerEdge's solution.

Secure and Verifiable Proofs

The protocol is designed to push proofs using ZK by timestamping them on Bitcoin. This is achieved through the use of ZK proofs, which ensure the integrity of the data without compromising its confidentiality. The result is a highly secure timestamping system that provides rollups and PoS-based chains and rollups with the confidence of Bitcoin’s PoW security.

Cost-Efficient Timestamping Solution

Timestamping on Bitcoin can be prohibitively expensive due to high transaction fees and tight space constraints. LayerEdge's protocol addresses this challenge by using zero-knowledge aggregated proofs, which significantly reduce the cost of timestamping. For example, typical annual timestamping fees incur substantial fees, and with LayerEdge these costs can be reduced to just 10% of the original cost.

Technicals Integrations

LayerEdge has integrated its protocol with leading blockchain frameworks and Data Availability (DA) layers, such as Arbitrum Orbit Stack and Avail DA. These integrations ensure that LayerEdge's timestamping protocol is compatible with a wide range of blockchain platforms, enhancing its scalability and versatility.

Key Features of LayerEdge’s Timestamping Protocol

First timestamping protocol on Bitcoin using ZK by a timestamping service.

Securely verify zero-knowledge/validity proofs and aggregate them to be timestamped on Bitcoin, slashing the costs by 10x.

LayerEdge HMDA is a modular timestamping protocol for settling data on Bitcoin via existing data availability solutions.

The protocol is designed as a plugin that can be compatible with multiple frameworks & DA layers, enabling Bitcoin as a source of truth for PoS-based chains and rollups to enhance integrity and security, opening up many conveniences like quick unlinking, new zone launch, and transaction protection.

Founded by Ayush Gupta, former Gnosis Tech Lead and Senior Engineer at Samsung R&D. While at Samsung, Ayush wrote a SW to authenticate & authorize access to various services that run on all Samsung smart devices.

About LayerEdge

LayerEdge HMDA is a modular timestamping protocol for settling data on Bitcoin via existing data availability solutions. The protocol is designed as a plugin that can be compatible with multiple frameworks & DA layers, enabling Bitcoin as a source of truth for PoS-based chains and rollups to enhance integrity and security, opening up many conveniences such as quick unlinking, new zone launch, and transaction protection.

Founded by Ayush Gupta, former Gnosis Tech Lead and Senior Engineer at Samsung R&D. While at Samsung, Ayush wrote a SW to authenticate & authorize access to various services that run on all Samsung smart devices.

Conclusion

LayerEdge's development of the first timestamping protocol on Bitcoin (HMDA) using zero-knowledge aggregated proofs marks a significant milestone in Bitcoin space. By leveraging advanced cryptographic techniques, LayerEdge is poised to deliver a secure, verifiable, and cost-efficient timestamping solution that will set new industry standards.

For more information, please visit layeredge.io or contact [email protected]

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