Kinetex Network Partners with Succinct to Develop BTCX, a Bitcoin ZK Light Client for DeFi Evolution
In Brief
Kinetex Network is collaborating with Succinct to develop BTCX, a Bitcoin ZK light client tailored for EVM-compatible chains.
Kinetex Network is developing BTCX – a Bitcoin ZK light client tailored for EVM-compatible chains and the project aims to enable secure BTC trades within the Ethereum DeFi ecosystem. Kinetex is utilizing Succinct Labs‘ infrastructure for programmable truth to build BTCX. Succinct specializes in building core ZK infrastructure, including a decentralized proving network and an open-source zkVM called SP1.
Kinetex Network’s flagship product – Flash Trade – facilitates user trade intents resolved by a network of professional market makers.
“Flash Trade incorporates ZK light clients for cross-chain interaction which allows receiving the state of one network in another network without relying on third-party validators, thereby eliminating the need to store funds in pools, excessive gas costs, and other challenges that have long been hindering DeFi’s growth,” Tigran Bolshoi, Co-founder of Kinetex Network told Mpost.
“By incorporating ZK light clients, Flash Trade, powered by Succinct’s infrastructure, will offer users a new level of swapping experience that includes fast transaction execution, extremely low fees, direct payments without intermediaries, and far more adequate and affordable gas prices,” Bolshoi added.
Moreover, with BTCX, Kinetex Network aims to verify ZK proofs of Bitcoin’s state roots on Ethereum with just 300K gas, allowing users to securely trade BTC within the Ethereum DeFi ecosystem.
Succinct and Kinetex Streamline ZKP Integration in BTCX
Succinct’s decentralized proving network, combined with its open-source zero-knowledge virtual machine (zkVM) called SP1, forms the backbone of BTCX’s infrastructure. Although still under development, this network promises to provide a decentralized and trustless environment for verifying cryptographic proofs, ensuring the integrity of transactions and smart contracts across various blockchain applications.
According to Kinetex Network founder Tigran Bolshoi, usage of Succinct tooling streamlines the development of ZK circuits, replacing months of deploying custom infrastructure for ZKP generation and wrangling customized SDKs enabling production deployment. Succinct also optimizes debugging and release preparation by tracking progress on the latest circuit builds and proof systems.
“By verifying Bitcoin’s state on Ethereum with minimal gas costs, Flash Trade eliminates the need for third-party validators and dependency on liquidity pools, making BTC trades more streamlined by enabling direct swaps between Bitcoin and Ethereum in both directions, bypassing the usual need for liquidity pools and external validators for Bitcoin liquidity,” Bolshoi told Mpost.
Flash Trade’s decentralized, intent-based trading model supported by a network of professional market makers, simplifies the cross-chain swapping process, ensuring rapid execution with no slippage and minimal gas costs.
Kinetex addresses potential risks associated with the liveness assumption for proof generation, crucial for the BTCX bridge, through a network of staked nodes called maintainers. These nodes ensure the bridge is updated to the latest state, supporting the liveness assumption. As nodes operate on a permissionless and trustless layer, just one honest participant is sufficient to provide valid blocks to the Bitcoin network, ensuring correct state updates.
Moreover, Kinetex leverages Succinct’s open-source libraries such as plonky2x and Curta to build optimized circuits for fast proving time. Open-source libraries like plonky2x and Curta significantly optimize circuits for fast proof generation and enhance BTCX’s efficiency.
Plonky2x improves code readability and maintainability while allowing for various optimizations. Likewise,Curta AIR-builder library, integrated into the Succinct interface, optimizes SHA-256 computations, reducing proving time.
The collaboration between Kinetex and Succinct represents a significant milestone in the evolution of decentralized finance, bringing together cutting-edge technologies to push the boundaries of what is possible in blockchain and digital asset trading. With BTCX, users can look forward to a future where secure and efficient cross-chain transactions are the new norm, ushering in a new era of financial freedom and innovation.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
