What Is BOB, the Bitcoin Layer 2 Solution

BOB (Build on Bitcoin) is a Bitcoin Layer 2 solution developed to solve Bitcoin's scalability problem and add new features and possibilities to the Bitcoin network.

It is compatible with the Ethereum Virtual Machine (EVM), so developers can run dApps with Solidity smart contracts. BOB also uses the OP Stack to provide a framework for easily building rollups and blockchains.

Introduction to BOB, the Bitcoin Layer 2 solution

Key Features and Goals of BOB

BOB keeps Bitcoin's core values of strong security and decentralization while borrowing Ethereum's scalability. BOB's main goal is to build a programmable layer on top of Bitcoin and pursue innovation in a wide range of fields, starting with DeFi protocols and extending to NFTs and entertainment.

How BOB Works

BOB is a Layer 2 network built on Bitcoin and connected to Ethereum. Its main components are merged mining, a rollup layer, bridges, and smart contracts.

1. Merged Mining

BOB inherits Bitcoin's security through merged mining. This lets Bitcoin miners use the same resources to secure the Layer 2 protocol at the same time.

2. Rollup Layer

BOB starts out with an Optimistic rollup layer and plans to upgrade to zero-knowledge (ZK) verification later. Rollups process transactions outside the chain to reduce congestion on the main chain, batching transactions together and submitting the final transactions to the base layer.

3. EVM Bridge

BOB supports several Bitcoin bridges, enabling interaction between Bitcoin and Ethereum. This lets users transfer ETH from Ethereum to BOB, and the other way around.

4. Smart Contracts

Because BOB is EVM-compatible, developers can build decentralized applications secured by Bitcoin using the Solidity programming language.

How to Get the BOB Airdrop

BOB is currently in its public testnet phase, where you can test asset bridging, P2P swaps, and inscriptions. As of April 2024, BOB supports a deposit task during the testnet phase in which you deposit Ethereum assets and earn points.

If you're interested in the BOB airdrop after the mainnet launch, check out the BOB staking guide.