In a significant move to expand and enhance decentralized finance (DeFi) capabilities within the Bitcoin ecosystem, Mintlayer has announced the launch of the ZK Thunder Network Testnet, a groundbreaking Layer 3 (L3) solution.
ZK Thunder utilizes advanced zero-knowledge (ZK) rollup technology to ensure lightning-fast transaction speeds with 1-second block times, dramatically reducing the congestion and high fees often associated with traditional blockchain systems. This innovative approach allows developers to build more efficient and user-friendly DeFi applications, enabling seamless integration and functionality that align with Ethereum-based projects.
“ZK Thunder is not just an upgrade; it’s a transformative leap for the Mintlayer ecosystem,” said the project lead at Mintlayer. “With EVM compatibility, we’re bridging the gap between Bitcoin’s robust security features and the expansive possibilities of Ethereum’s smart contract capabilities. This makes Mintlayer an even more attractive platform for developers looking to innovate within the DeFi space.”
Reflecting on the vision behind the innovation, the team at Mintlayer stated, “We connect the money of the future, Bitcoin, with real-world wealth to make markets more fair, transparent, and accessible to all.” This statement underscores Mintlayer’s commitment to creating a more inclusive financial system through advanced blockchain solutions.
The introduction of ZK Thunder is part of Mintlayer’s broader strategy to unlock the potential $3 trillion in Bitcoin liquidity for DeFi applications. By batching transactions and compressing them into a single proof, ZK Thunder not only boosts efficiency but also maintains low transaction costs and enhanced privacy for users.
To ensure the robustness and security of its network, Mintlayer is also launching a bug bounty program in collaboration with CertiK. This program invites developers and security experts to rigorously test the network and help identify any potential vulnerabilities during the Testnet phase. Furthermore, Mintlayer continues to support emerging projects through its Ecosystem Grant Program, fostering innovation and development within the Bitcoin DeFi landscape.
Developers are now invited to participate in the Testnet, where they can deploy contracts, test the network’s capabilities, and explore the extensive possibilities offered by ZK Thunder. This marks a pivotal moment for Mintlayer as it moves closer to its vision of making fast, efficient, and secure DeFi accessible on a global scale.
“We connect the money of the future, Bitcoin, with real-world wealth to make markets more fair, transparent and accessible to all ~ Enrico Rubboli (Founder And CEO )”
For more information on ZK Thunder and to participate in the Testnet, please visit: ZK Thunder Official Website and ZK Thunder Testnet Explorer.
