{"id":128828,"date":"2020-12-08T18:28:15","date_gmt":"2020-12-08T15:28:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/rsk-launches-powpeg-a-trustless-bitcoin-bridge-architecture\/"},"modified":"2020-12-08T18:28:15","modified_gmt":"2020-12-08T15:28:15","slug":"rsk-launches-powpeg-a-trustless-bitcoin-bridge-architecture","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/rsk-launches-powpeg-a-trustless-bitcoin-bridge-architecture\/","title":{"rendered":"# RSK launches Powpeg, a trustless Bitcoin bridge architecture"},"content":{"rendered":"

“# RSK launches Powpeg, a trustless Bitcoin bridge architecture <\/strong>”
\n<\/p>\n

Bitcoin sidechain RSK launched a new bridge protocol called Powpeg, which will facilitate a trustless connection between\u00a0Bitcoin (BTC) and RSK\u2019s wrapp<\/a>ed version of it, called Smart Bitcoin (RBTC). <\/p>\n

The system marks the first time that a Bitcoin sidechain has featured a trustless peg where the funds allocated to the chain are not controlled by a group of well-defined entities, often called a federation. <\/p>\n

Powpeg achieves this by combining the security features of a Hardware Security Module, or HSM, with RSK\u2019s consensus layer based on merge-mining with Bitcoin.\u00a0Sergio Lerner, co-founder of RSK, explained the concept to Cointelegraph:<\/p>\n

\u201cIn the Powpeg not even the majority of pegnatories, or Powpeg signatories, can sign a Bitcoin peg-out transaction without a huge amount of chain work that can only be provided by the majority of RSK miners.\u201d<\/p><\/blockquote>\n

The mechanism comes as part of RSK\u2019s strategy of \u201cdefense in-depth\u201d to provide multiple layers of security and protect the system from different types of attack.<\/p>\n

Most notably, federated systems where concrete legal entities have the power and the responsibility to maintain the bridge\u2019s operation are \u201cprone to government takeover,\u201d said Lerner. With Powpeg, that is no longer an option, as the \u201cpegnatories\u201d cannot control the funds in the bridge multisignature contract. Creating a transaction to move those funds away would require a majority of the RSK hash rate, which is itself more than 50% of the total Bitcoin mining power.<\/p>\n

With the eventual introduction of Taproot, the system could also be expanded to incorporate an arbitrary number of bridge maintainers, including individuals. This would further reduce weakness to attempts at government takeover, Lerner noted. Selective censoring is also impossible because all outgoing transactions are automatically linked with each other, he explained.<\/p>\n

As part of the \u201cdefense in-depth\u201d doctrine, Lerner alluded to further peg mechanisms to improve resilience. Some possible methods include the introduction of additional federations, vastly increasing the number of signers, and a failsafe multisig system that activates if the Powpeg stops functioning.<\/p>\n

The creation of a trustless bridging mechanism could allow Bitcoin holders to benefit from RSK\u2019s smart contract platform. The project has been working to expand its DeFi ecosystem, which now features basic building blocks like a collateralized lending protocol and several forms of decentralized exchanges.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# RSK launches Powpeg, a trustless Bitcoin bridge architecture ” Bitcoin sidechain RSK launched a new bridge protocol called Powpeg, which will facilitate a trustless connection between\u00a0Bitcoin (BTC) and RSK\u2019s wrapped version of it, called Smart Bitcoin (RBTC). The system marks the first time that a Bitcoin sidechain has featured a trustless peg where the…<\/p>\n","protected":false},"author":1,"featured_media":128829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/a1d831b9-843f-4ff8-973b-661bf81cd9d9.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,81764,83051,4965],"class_list":["post-128828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-rootstock","tag-sidechains","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/128828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=128828"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/128828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/128829"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=128828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=128828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=128828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}