How Rome enables Bitcoin
Last updated
Last updated
Rome composes Bitcoin with Solana to allow Bitcoin holders to use their assets within the Solana ecosystem. This is achieved by wrapping Bitcoin into WBTC on the Rome Layer 2 platform, enabling interaction with dApps on Solana.
Rome enhances the scalability of Bitcoin transactions. Solana's architecture allows for faster processing times and lower costs compared to the Bitcoin chain, making Bitcoin more efficient for high-volume and complex transactions within the Rome ecosystem.
Users send Bitcoin (BTC) to a multi-signature wallet managed by a relayer. This process enhances security and ensures the BTC is safely stored while awaiting the next steps.
The relayer plays a crucial role in verifying the locking of BTC, maintaining the integrity and trust throughout the transaction process.
Following BTC locking confirmation, an equivalent amount of Wrapped Bitcoin (WBTC) is minted on the Rome Layer 2 (L2) platform. This mechanism allows users to capitalize on Bitcoin’s liquidity while accessing the extensive capabilities of the Rome platform.
Users can engage in trading or interact with decentralized applications (DApps) within the Rome ecosystem, utilizing WBTC. This step showcases the composability aspect of Solana, enabling the integration and interaction of Bitcoin within a dynamic, scalable environment.
To convert WBTC back to native BTC, users initiate a burn process on the Rome platform. This action must be verified to proceed.
Upon successful verification, BTC is released from the multi-signature wallet and returned to the user's wallet, thus completing the cycle of integration and utility within the Rome ecosystem.
Solana's architecture significantly increases the number of transactions per second, reducing delays commonly seen with Bitcoin transactions.
Solana’s low fees make it cost-effective for operations like minting and burning WBTC, supporting economical high-volume transactions.
