Why Make Ethereum Blockchain Data Available on Google Cloud? 8221

Ethereum and other cryptocurrencies have captured the imagination of technologists, financiers, and economists. Digital currencies are only one application of the underlying blockchain technology. Earlier this year, we made the Bitcoin dataset publicly available for analysis in Google BigQuery. Today we’re making the Ethereum dataset available.

Like its predecessor, Bitcoin, you might think of the Ethereum blockchain as an immutable distributed ledger. However, creator Vitalik Buterin extended its set of capabilities by including a virtual machine that can execute arbitrary code stored on the blockchain as smart contracts.

With regards to the system architecture, Ethereum resembles Bitcoin in that it primarily serves to record immutable transactions. Both are essentially OLTP databases, and provide little in the way of OLAP (analytics) functionality. However, the Ethereum dataset is notably distinct from the Bitcoin dataset:

  • The Ethereum blockchain’s primary crypto-economic unit of value is Ether, while the Bitcoin blockchain’s unit of value is Bitcoin. However, the majority of value transfer on the Ethereum blockchain is composed of so-called tokens. Tokens are created and managed by smart contracts.
  • Ether value transfers are precise and direct, resembling accounting ledger debits and credits. This is in contrast to the Bitcoin value transfer mechanism, for which it can be difficult to determine the balance of a given wallet address.
  • Addresses can be not only be wallets that hold balances, but can also contain smart contract bytecode that allows the programmatic creation of agreements and automatic triggering of their execution. An aggregate of coordinated smart contracts could be used to build a decentralized autonomous organization.

The Ethereum blockchain data are now available for exploration with BigQuery. All historical data are in the ethereum_blockchain dataset, which updates daily. The Ethereum ETL project on GitHub contains all source code used to extract data from the Ethereum blockchain and load it into BigQuery—we welcome more contributors and more blockchains!

Why make Ethereum blockchain data available on Google Cloud?

While the Ethereum blockchain peer-to-peer software has an API for a subset of commonly used random-access functions (for example: checking transaction status, looking up wallet-transaction associations, and checking wallet balances, for example), API endpoints don’t exist for easy access to all of the data stored on-chain.

Perhaps more importantly, API endpoints also don’t exist for viewing the blockchain data in aggregate.  Here’s an example chart that shows the total Ether transferred and average transaction cost, aggregated by day:

Ether aggregate transfers and transaction costs

A visualization like this (and the underpinning database query) is useful for making business decisions, such as prioritizing improvements to the Ethereum architecture itself (is the system running close to capacity and due for an upgrade?) to balance sheet adjustments (how quickly can a wallet be rebalanced?).

BigQuery has strong OLAP capabilities to support this type of analysis, ad-hoc and in general, without requiring additional API implementation.

Accordingly, we built a software system on Google Cloud that:

  1. Synchronizes the Ethereum blockchain to computers running Parity in Google Cloud.
  2. Performs a daily extraction of data from the Ethereum blockchain ledger, including the results of smart contract transactions, such as token transfers.
  3. De-normalizes and stores date-partitioned data to BigQuery for easy and cost-effective exploration.

The Ethereum blockchain dataset is also available on Kaggle here. You can query the live data in Kernels, Kaggle’s no charge in-browser coding environment, using the BigQuery Python client library. Fork this example kernel to experiment with your own copy of the Python code.

Interesting queries and analyses

Below, we show a number of interesting queries and visualizations based on the Ethereum dataset. Our analyses focus on three popular topics:

  • Smart contract function calls
  • On-chain transaction time-series and transaction networks
  • Smart contract function analytics

Analysis 1: Popular Smart Contracts Event Logs

The main use case for the Ethereum blockchain has so far been the exchange of digital tokens. Below we demonstrate querying the dataset’s transactions and contracts tables to find the most popular smart contracts, as measured by transaction count:

What are the 10 most popular Ethereum collectibles (ERC-721 contracts), by number of transactions? View my query here.

Contract addresses and transfer counts for the 10 most popular Ethereum collectibles 

The most popular ERC-721 smart contract by transaction count is 0x06012c8cf97bead5deae237070f9587f8e7a266d, the main smart contract for the CryptoKitties game. We’ll take a look at some attributes of the game later in this document.

Looking more closely at this contract’s source code, it logs a CryptoKitty birth event to the blockchain. You can query the logs table for instances of this event here.

We can visualize the CryptoKitty pedigree, as shown here for accounts that own at least 10 CryptoKitties. Color indicates owner, while size indicates the PageRank (reproductive fitness) of each CryptoKitty:

CryptoKitty PageRank based on game's contract's source code

Analysis 2: Transaction Volumes and Transaction Networks

There are many types of tokens being distributed on the Ethereum blockchain, and their patterns of distribution vary by type and also by time. By looking at each token’s transaction activity, we can measure which are more popular in aggregate or within a given time frame.

Here’s a query to measure an aggregate token statistic: which are the 10 most popular Ethereum tokens (ERC20 contracts), by number of transactions? Find the answer here.

At position #5, one of the most popular tokens is OmiseGO ($OMG) at address 0xd26114cd6ee289accf82350c8d8487fedb8a0c07.

As a follow-up, here’s a query for measuring a token statistic (transaction count) by time window, specifically the daily count of $OMG tokens transfers, and a Data Studio visualization of these data as a time series from inception through August 2, 2018 from this Google Sheet:

OmiseGO exchange daily transfers

Note that on September 13, 2017, there was a large increase in the number of $OMG receivers but no increase in the number of senders. This corresponds to the beginning of the OmiseGO Token Airdrop.

Because the data, at a highly granular level, consists of a set of transfers between wallet addresses, we can also reason about the data using a directed graph data structure.

Here’s a visualization of a subset of the same data: it’s the first 50,000 transactions that had at least two trading partners. In this graphic, nodes (points) represent wallet addresses on the Ethereum blockchain, and edges (lines) represent aggregate transfer of tokens between a pair of addresses. Edge length is approximately proportional to the number of tokens transferred, meaning wallets that transfer more aggregate tokens between them are closer together in the chart. Further groups of addresses that transfer often with one another—to the exclusion of members of other groups—will cluster together, and we’ve color coded these groups for clarity. This graphic was made with Gephi and nodes are color-labeled by groups calculated using the Modularity algorithm.

Transfer graph visualization of Ethereum transactions

Analysis 3: Analysis of Smart Contract Functionality

We mentioned previously that many of the smart contracts on the Ethereum blockchain are ERC-20 contracts. What does this mean? ERC-20 simply defines a software interface that smart contracts can implement. Specifically, it’s composed of a few functions related to token transfer, fully described in the ERC20 Token Standard specification document.

There are many other functions that can be implemented by a smart contract. Fortunately, many smart contracts’ source code is freely available to use (open source). We can use this to gain some knowledge about what other contracts do from the name of the function, even for those of which we don’t have the source code, because common function names will share a common signature.

Coming back to the CryptoKitties, discussed in Analysis 3 above, the major element of gameplay is animal husbandry, and the mixing of genes in a breeding event is implemented in the CryptoKitties GeneScience smart contract, 0xf97e0a5b616dffc913e72455fde9ea8bbe946a2b. Suppose we wanted to find other games also implementing similar gameplay mechanics to the CryptoKitties GeneScience contract? We can measure this using a JavaScript UDF implementation of the Jaccard similarity coefficient in this query.

These results reveal that several earlier versions of the GeneScience contract are most similar to the current version of the smart contract at address 0xf97e0a5b616dffc913e72455fde9ea8bbe946a2b. But there are also some others (e.g. CryptoPuppies at 0xb64e6bef349a0d3e8571ac80b5ec522b417faeb6), that appear to be highly similar contracts, as measured by method signatures.

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Chainlink CCIP, Data Streams, and Data Feeds Are Now Live on Soneium Mainnet 1026

Developers on Soneium can now build feature-rich applications and drive onchain innovation

Chainlink, the standard for onchain finance, and Sony Block Solutions Labs—an initiative behind the next-generation Ethereum Layer-2 blockchain Soneium—announced today that Chainlink CCIP, Chainlink Data Streams and Data Feeds are now live on Soneium Mainnet, empowering Soneium’s developer ecosystem to build feature-rich applications and drive onchain innovation. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) has now been integrated as Soneium’s canonical cross-chain infrastructure.

Sony Block Solution Labs unveiled Soneium in August 2024 to bring Web3 technologies to Sony Group’s extensive user base. Soneium was built to realize the open internet that transcends boundaries by connecting those with cultural differences and onboarding people onchain.

“Chainlink CCIP, Data Streams and Data Feeds are essential for those in Soneium’s developer ecosystem to realize novel onchain use cases for users. It also plays an important role in realizing the vision of an open internet. Developers now have access to critical Chainlink infrastructure that will allow them to expand what’s possible to build on Soneium.” – Jun Watanabe, Chairman of Sony BSL.

“Soneium has continued to show real momentum with its mainnet launch, while playing an important role in the industry in terms of increased scalability, exposure, and access to new audiences both within Japan and in the broader market. Chainlink CCIP, Data Streams and Data Feeds now give developers on Soneium the ability to build onchain apps much more seamlessly and securely than before, helping to increase adoption of the layer-2 solution built by Sony Block Solution Labs.” – Johann Eid, Chief Business Officer, Chainlink Labs

In September 2024, Chainlink and Sony Block Solutions Labs announced that Soneium had joined the Chainlink Scale program, an initiative centered around sustainably accelerating the growth of blockchain and layer-2 ecosystems.

About Chainlink

Chainlink is the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $19 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors. Learn more by visiting chain.link.

About Soneium

Soneium, an Ethereum layer-2 developed by Sony Block Solutions Labs. This versatile chain is a general-purpose blockchain platform that aims to evoke emotion, empower creativity, and meet diverse needs. Soneium will be simplifying blockchain experiences while empowering developers, creators, and communities. Built on accessibility, scalability, and efficiency, it aims to improve quality of life across industries globally. Soneium challenges to change the way people interact with the internet, opening innovative applications and vast potential for users worldwide.

About Sony Block Solutions Labs

A Sony Group Company established to build a new network infrastructure using blockchain technology, The company announced the planning and development of blockchain in September 2023, and in August 2024, the company name was changed from Sony Network Communications Labs Pte. Ltd.

Penguinswap DEX officially launches on Creditcoin Network 1612

Penguinswap, a decentralized exchange (DEX) natively built on the Creditcoin Layer 1 blockchain, is officially live on Mainnet. The launch is a significant step forward for the Creditcoin ecosystem, providing users with the required platform to participate in the decentralized finance (DeFi) economy.

Designed with accessibility and security in mind, Penguinswap allows users to swap tokens, provide liquidity, and earn rewards while retaining self-custody of their assets.

Opening access to Creditcoin’s DeFi ecosystem

A key aspect of the Creditcoin ecosystem is its focus on Real-World Assets (RWAs) and Decentralized Physical Infrastructure Networks (DePIN). By specializing in these sectors, Penguinswap, as a native DEX in the Creditcoin ecosystem, will provide users with access to innovative new projects built on the Creditcoin network.

Penguinswap’s features include:

1. Seamless token swaps

Penguinswap allows users to swap Creditcoin’s ecosystem tokens efficiently through its intuitive and user-friendly interface.

2. Zero operational fees

Unlike other platforms, Penguinswap charges no operational fees. Users only need to cover network and pool fees, making trading cost-effective and accessible.

3. Earn rewards via liquidity provision

Users can support the DEX’s sustainability by providing liquidity to designated pools and earning yield in return.

4. Token and pool creation

Builders looking to list their tokens can create custom tokens and liquidity pools on Penguinswap, fostering innovation and collaboration within the Creditcoin community.

Paving the way for future growth

Penguinswap is just getting started. As the Creditcoin ecosystem evolves, it will expand the DEX’s offerings by integrating additional tokens and projects. The upcoming addition of Spacecoin, a Decentralized Physical Infrastructure Networks (DePIN) project building a novel decentralized internet, demonstrates Creditcoin’s commitment to supporting innovative projects and expanding trading opportunities for its users.

Start trading today

Penguinswap is your gateway to seamless decentralized trading within the vibrant Creditcoin ecosystem – connect to Penguinswap today!

About Creditcoin

Creditcoin is a Layer 1 blockchain that enables builders to create applications connecting digital assets with real-world services, like RWAs and DePIN. Its Universal Smart Contract technology allows seamless interaction across chains without bridges, which is ideal for complex multi-chain applications. Additionally, Creditcoin supports the creation of verifiable on-chain credit histories, linking traditional finance with decentralized systems.

Plume Network Strengthens Multi-Chain RWA Ecosystem with SkyLink Interoperability 2729

Plume Network, a full-stack Layer 1 blockchain focused on Real World Assets (RWAs), announced plans to expand its cross-chain ecosystem with the deployment of SkyLink across 16 blockchain networks. This announcement coincides with the continued growth of the RWA sector, which has seen on-chain value nearly double over the past year to approximately $17 billion.

Plume Network’s SkyLink, an interoperability solution designed for secure cross-chain RWA distribution, will launch with an initial cohort of networks including Solana, Movement, Injective, Omni Network, Zircuit, Ape Chain, Core, Polyhedra, Gravity by Galxe, Merlin, Xion, Rome, Echelon, D3, Hemi, and Memento.

Users on these networks now have access to institutional-grade RWA distributions, streamed directly to their wallets via SkyLink’s mirrored tokens. The solution leverages LayerZero’s SyncPools for seamless omnichain functionality.

Notably, the mirrored tokens introduced by SkyLink ensure that total value locked (TVL) remains securely on the original chain, maintaining potential liquidity and bolstering the value of each network.

“The growth of the RWA sector depends on the collaborative efforts of diverse blockchain ecosystems, each contributing unique strengths to build a robust cross-chain infrastructure,” said Teddy Pornprinya, Co-founder of Plume Network. “By aligning with these networks, we’re establishing the foundation for an interoperable RWA landscape where institutional-grade yields are easily accessible across any chain or rollup.”

With traditional markets exceeding $100 trillion in commodities, bonds, and stocks, representing significant tokenization potential, this expansion addresses a key market need: while RWA tokenization has grown substantially, the distribution of assets across different blockchain ecosystems has remained fragmented.

SkyLink’s integration with LayerZero enables unified pools with cross-chain mint and burn functions, allowing seamless issuance and redemption of YieldTokens across multiple chains while preserving Plume’s asset custody and compliance infrastructure.

The integration enables:

  • Continuous asset distribution across any supported blockchain network
  • Permissionless access to institutional-grade RWA assets
  • Native composability for asset-backed tokens across DeFi applications
  • Unified compliance and security standards across all chains

“Looking ahead to 2025, we believe multi-chain interoperability will be crucial in unlocking the next phase of RWA adoption,” added Jason Meng, Head of Business Development at Plume Network. “Our goal is to make Plume the hub for cross-chain RWAfi yield distribution, supporting the growing demand for real world asset exposure in DeFi. We are actively seeking to integrate new networks to expand this ecosystem further.”

About Plume

Plume Network is the first full-stack L1 RWA Chain and ecosystem purpose-built for Real World Asset Finance (RWAfi), enabling the rapid adoption and demand-driven integration of real-world assets. With 180+ projects building on the network, Plume offers a composable, EVM-compatible environment for onboarding and managing diverse real-world assets. Coupled with an end-to-end tokenization engine and a network of financial infrastructure partners, Plume simplifies asset onboarding and enables seamless DeFi integration for RWAs so anyone can tokenize real-world assets, distribute them globally, and make them useful for native crypto users.

Boba Network Integrates Nucleus to Expand Cross-Chain Functionality and Ecosystem Accessibility 3400

Boba Network has announced the integration of Nucleus, a protocol designed for blockchain networks. This collaboration enables users bridging ETH, Liquidity Staking Tokens (LSTs), or Liquidity Reward Tokens (LRTs) to the Boba Network to engage with Ethereum mainnet functionalities while accessing various DeFi protocols, gaming platforms, and NFT marketplaces

The partnership aligns with Boba Network’s focus on scalability and user-focused development. The integration of Nucleus expands Boba Network’s ecosystem offerings, highlighting advancements in cross-chain functionality and composable infrastructure.

Enhancing Results Through Cohesion

  1. ETH, LSTs, or LRTs bridged to Boba Network are integrated into the network’s system, facilitating seamless interaction with decentralized applications. This approach aims to optimize user engagement without additional complexity.
  2. This version removes promotional language and references to financial benefits, focusing solely on functionality.
  3. Frictionless Cross-Chain Operations
  4. Secure interchain messaging protocols connect Ethereum Mainnet and Boba Network, enabling efficient yield aggregation. The flow of assets and rewards benefits from streamlined coordination between chains.
  5. Composable Infrastructure
  6. Smart contracts empower cross-chain deposits, withdrawals, and liquidity management. This allows developers to build robust decentralized applications that incorporate Nucleus’s functionality without added complexity.

Boba Network as a Foundation for Innovation

Boba Network’s advanced capabilities support Nucleus’s goal of integrating core functionalities into blockchain ecosystems.

HybridCompute™
Off-chain data computation at scale lowers costs and boosts performance for yield-bearing protocols.

Account Abstraction
Simplified user interactions reduce onboarding barriers and enhance overall accessibility.

Low Transaction Costs
Lower fees support high-volume user participation and provide a cost-effective environment for dApp developers.

This synergy bolsters ecosystem capabilities, drives the adoption of decentralized technology, and sets the stage for new market opportunities.

Aligning with Nucleus’s Mission

By deploying on Boba Network, Nucleus aims to integrate core functionality across multiple crypto networks. This approach supports ecosystem participation by leveraging Boba Network’s features, including speed, cost-efficiency, and access to a range of decentralized applications.

What the Integration Brings

  • For Users: Convenient access to a variety of applications within the Boba Network ecosystem.
  • For Developers: Tools and resources for integrating advanced features into decentralized applications to support innovative product development.
  • For Ecosystems: Increased network activity supported by integrated functionalities, contributing to the ongoing development of blockchain technology.

Setting a New Standard for Blockchain Networks

The collaboration between Nucleus and Boba Network aims to integrate advanced network functionalities as a core feature rather than an additional option. This integration seeks to enhance the accessibility and utility of blockchain technology, supporting broader adoption and facilitating advancements in decentralized finance and related fields.

Users can learn more about Nucleus on Boba Network and experience how this integration is redefining blockchain networks.

About Nucleus

Nucleus is a protocol designed to integrate core functionalities at the foundational layer of blockchain ecosystems. By streamlining cross-chain operations and providing developers with tools for integrating advanced features, Nucleus aims to enhance how users interact with Web3 technologies.

About Boba Network

Boba Network is a multichain Layer 2 solution designed for scalability, low transaction costs, and enhanced developer capabilities. Through innovations such as HybridCompute™ and account abstraction, Boba Network supports diverse dApps spanning DeFi, gaming, and NFTs, aiming to bring the next wave of users into the blockchain space.

Website: https://boba.network
Twitter: @bobanetwork
LinkedIn: https://www.linkedin.com/company/bobanetwork/

1Fuel revolutionizes the crypto landscape with innovative wallet as presale gains momentum 5157

With the cryptocurrency market surging past $3.3 trillion in 2024, the stage is set for groundbreaking innovations to redefine the digital economy. Amid this bullish wave, 1Fuel, an emerging leader in the decentralized finance (DeFi) sector, is launching its state-of-the-art cryptocurrency wallet alongside a highly anticipated token presale. Positioned at the forefront of multi-chain integration, 1Fuel promises to simplify crypto transactions, prioritize privacy, and unlock new opportunities for passive income.

A wallet designed for the future

1Fuel’s cryptocurrency wallet aims to address critical pain points in the blockchain ecosystem. By integrating multi-chain functionality and privacy-centric features, 1Fuel sets a new standard for crypto storage and transactions.

Key highlights of the 1Fuel wallet include:

  • One-click cross-chain transactions: Users can seamlessly swap assets like Ethereum and Solana without navigating multiple platforms or dealing with complex steps.
  • Cold storage technology: State-of-the-art cold wallet security ensures users’ digital assets remain untouchable by cyber threats.
  • Privacy mixer: Built-in anonymization tools provide unparalleled transaction privacy in an era where data breaches are rampant.
  • Peer-to-Peer (P2P) exchange: 1Fuel’s platform eliminates intermediaries, allowing direct, efficient, and secure trades between users.
  • Crypto debit and credit cards: Bridging the gap between the digital and physical worlds, these cards make crypto spending as easy as traditional banking.

“1Fuel isn’t just a wallet; it’s an ecosystem designed to empower users in a rapidly evolving blockchain economy. We’re delivering tools that are not just innovative but essential for mass adoption.”

Presale gains traction: over $1.2M raised

Currently in Stage 3 of its presale, 1Fuel’s OFT token has already raised over $1.2 million. Early backers have seen gains of 50% since the initial price of $0.01, with tokens now priced at $0.015. Investors can take advantage of a limited-time 20% bonus on all purchases, underscoring the project’s strong growth potential.

Strategically positioned for 2025

As DeFi adoption accelerates toward an expected $232 billion by 2030, 1Fuel’s comprehensive ecosystem is perfectly positioned for exponential growth. Regulatory clarity across key markets, coupled with rising institutional interest, offers fertile ground for widespread adoption. Notably, BlackRock’s endorsement of crypto investments and global moves toward decentralized currencies, such as Russia and El Salvador’s initiatives, signal a shifting financial landscape.

“Institutional investors and retail users alike are recognizing the importance of secure, user-friendly solutions. 1Fuel’s platform is poised to bridge these worlds, delivering exceptional value to its community.”

Looking ahead

The pieces are falling into place for 1Fuel. From robust staking rewards of up to 30% APR to a user-centric wallet that simplifies crypto transactions, the project addresses both current and future challenges in the digital economy.

As the cryptocurrency market matures, 1Fuel’s innovations make it an attractive prospect for both seasoned investors and newcomers. The presale represents a unique opportunity to join the forefront of a project set to redefine the crypto landscape.

Get involved

Discover how 1Fuel is shaping the future of cryptocurrency. Join the presale and learn more about the platform’s groundbreaking features at the links below:

Website: https://1fuel.io/
Telegram: https://t.me/Portal_1Fuel
Twitter / X: https://x.com/1Fuel

About 1Fuel

1Fuel is a pioneering DeFi project dedicated to simplifying and securing cryptocurrency transactions. Through cutting-edge technology and a commitment to user-centric design, 1Fuel is redefining the way individuals and institutions interact with the blockchain.

Babylon Labs Collaborates with Fiamma to Build Trust-Minimized Bitcoin Bridges 5591

Fiamma, a pioneer in BitVM2 technology, has secured strategic investment from Babylon Labs to advance the shared vision of a Bitcoin-secured decentralized world. The initiative focuses on developing the software solution for the first Trust-Minimized Bitcoin Bridges to cosmos chains in the ecosystem. These bridges achieve unparalleled security by pioneering the integration of zero-knowledge technology into Bitcoin through the innovative BitVM2 paradigm. This effort aims to unlock the untapped potential of 21M BTC, enabling Bitcoin to transcend its traditional limitations and interact seamlessly with other ecosystems.

This integration is more than just a bridge—it’s a step toward redefining Bitcoin’s utility and efficiency within the digital economy. By enabling innovative solutions built on Bitcoin’s inherent strengths, the collaboration sets the stage for breakthroughs that will reshape how Bitcoin is utilized across programmable blockchains and beyond.

Fiamma: BitVM2 Pioneer

In November 2024, Fiamma launched the alpha testnet for Fiamma Bridge, the first BitVM2-powered trust-minimized Bitcoin bridge, along with the devnet for Bitcoin’s first ZK verification layer utilizing BitVM2. These groundbreaking innovations mark the first implementations of BitVM2, a technology that not only scales Bitcoin but also enables seamless, pragmatically trustless interactions with other programmable blockchains.

Fiamma has pioneered the development and implementation of the most efficient and compact verifiers in Bitcoin Script, including Fflonk and Groth16, setting a new standard for optimized ZK verification. This achievement lays the foundation for future advancements in ZK technology, with a commitment to further innovation and refinement.

Babylon Protocol: The Leading Trustless Bitcoin Staking Solution

Babylon Labs, which develops software solutions enabling new native use cases for Bitcoin, including Bitcoin’s largest staking protocol with over 57,000 BTC staked through it (equivalent to $6 billion in TVL), is helping transform the perception about Bitcoin’s utility through this novel trustless staking technology that allows Bitcoin holders to mobilize their BTC to secure other proof-of-stake systems while receiving additional programmatic rewards.

Key Milestones in the Integration

After months of technical discussions and collaboration, the two teams have outlined two key milestones for their integration:

  1. Trust-Minimized Bridge: A transformative solution that activates BTC’s asset potential, providing holders with more options and trustless participation in DeFi, PayFi, and other use cases on any chain without security concerns.
  2. Future Innovations Beyond the Bridge: Building on the foundation of the Trust-Minimized Bridge, the integration is designed to pave the way for advanced solutions that enhance Bitcoin’s utility and capital efficiency, unlocking its role in the broader financial and decentralized landscape.

The integration will initially focus on developing the Trust-Minimized Bridge, combining the strengths of both parties to create high-impact, high-quality solutions that set a new standard for Bitcoin-based interoperability.

Trust-Minimized BTC Bridge

Based on the BitVM2 paper, the definition of “Trust-Minimized” is the existence of one active rational operator and rational challengers.

This means that:

  1. As long as there is 1 honest challenger, the safety of the Bridge is established;
  2. As long as there is 1 honest operator, the liveness of the Bridge is established.

Based on this trust assumption, Fiamma and Babylon Labs are working together to research and develop software for a Trust-minimized bridge by ensuring users retain custody of their assets, with the following parameters:

  1. Peg-In (Deposit) Safety: If the B-BTC is minted on Babylon chain, then the same amount of BTC has been locked on the Bitcoin network
  2. Peg-In Liveness: If the user has locked some amount of BTC on the Bitcoin network following the bridge protocol, then the user can self-mint the same amount of B-BTC on Babylon chain within a finite known time bound.
  3. Peg-Out (Withdraw) Safety: If the BTC is unlocked on Bitcoin, then the same amount of B-BTC has been burnt on the Babylon chain
  4. Peg-Out Liveness: If the user has burnt some amount of B-BTC on Babylon chain following the bridge protocol, then the user can unlock the same amount of BTC on the Bitcoin network within a finite known time bound.

The system leverages the following key components to ensure the above security properties.

Sidechain Modules:

  • On-Chain Bitcoin Light Client
  • Bridge Contract
  • Wrapped BTC Contract

Bitcoin Modules:

  • ZK Light Client Networks (Bitcoin & Sidechain)
  • BitVM2-based Snark Verification on Bitcoin
  • BitVM2 Transaction Graph

Off-Chain Module:

  • Event Monitor
  • Relayer Network
  • Multi-Operators
  • Fungible Liquidity Provider
  • Permissionless Challenge
  • Proof Generation
  • Proof Aggregation

For detailed information on the bridge’s architecture and security, check out our docs and stay tuned for our upcoming blog series.

About Fiamma

Fiamma is unlocking real-world use cases for Bitcoin, transforming it into a dynamic asset and the foundation for a decentralized internet and financial system. Backed by Lightspeed Faction and L2IV, Fiamma leads innovation with the Fiamma Bridge and Fiamma Layer, the first products to implement BitVM2. These foundational technologies are just the beginning, as Fiamma continues to develop protocols that expand Bitcoin’s potential across programmable blockchains and real-world applications. With a growing network of strategic partners, including Babylon, BOB, Satlayer, and RiscZero, Fiamma is shaping the future of decentralized systems.

About Babylon Labs

Babylon Labs focuses on Bitcoin security-sharing protocols with a vision of building a Bitcoin-secured decentralized world. The latest software development is the world’s first trustless and self-custodial Bitcoin staking protocol, which enables Bitcoin holders to stake their BTC on other decentralized systems such as PoS chains, L2s, Data Availability (DA) layers, etc, enabling stakers to receive staking rewards without the need for third-party custody, bridge solutions, or wrapping services. The greater idea is to combine the high security and wide adoption of Bitcoin with the efficiency and scalability of PoS systems, increasing Bitcoin’s utility.