The Ravning Passage

Cross-Chain Asset Bridge for Bitcoin-Based Tokens with Secure Locking Mechanism

This project develops an advanced infrastructure for the seamless and secure transfer of Bitcoin-based assets and collectibles (such as Runes, Ordinals, or Stamps) across different blockchain networks. The system enables these assets to move from the Bitcoin network to Ethereum Virtual Machine (EVM) compatible chains and back, with a focus on security and reliability.

Key Features:

1. Bitcoin Network Locking Mechanism:

   • Assets on the Bitcoin network are securely locked in a multisig wallet before replication on other chains.
   • This multisig mechanism ensures the assets are held safely during the cross-chain transfer process.

2. Oracle/API-Triggered Asset Creation:

   • An oracle or API monitors the Bitcoin multisig wallet.
   • When assets are locked, it triggers the creation of corresponding assets on the target EVM chain.

3. Bitcoin to Base Blockchain Bridge:

   • Facilitates the initial transfer of locked Bitcoin-based assets to the Base blockchain.

4. Multi-Chain Compatibility:

   • Leverages Layer Zero technology to replicate assets across various EVM-compatible chains after they reach the Base blockchain.

5. Bi-Directional Transfer:

   • Supports movement of assets from Bitcoin to EVM chains and vice versa.
   • Ensures proper locking and unlocking of assets on both ends of the transfer.

This infrastructure enhances the interoperability and security of Bitcoin-based assets, allowing users to leverage the unique properties of different blockchain ecosystems while maintaining ownership and integrity of their digital assets. The multisig locking mechanism on the Bitcoin side, coupled with the oracle-triggered asset creation on EVM chains, provides a robust and trustworthy bridge between these diverse blockchain environments.

We built this cross-chain asset bridge using a combination of Bitcoin script for the multisig locking mechanism, and Solidity for the EVM-side smart contracts. The core components include:

1. Bitcoin-side: Custom Bitcoin script for a 2-of-3 multisig wallet, ensuring secure asset locking.

2. Oracles: Monitor Bitcoin transactions and trigger EVM-side minting.

3. EVM-side: Solidity contracts on Base for asset representation and management.

4. Cross-chain communication: Integrated LayerZero protocol for seamless asset replication across EVM chains.

5. Backend: Node.js server with Bitcoin Core and Web3.js for transaction monitoring and cross-chain coordination.

A particularly innovative aspect is our use of Partially Signed Bitcoin Transactions (PSBTs) to streamline the multisig process, reducing gas costs and improving transaction efficiency.

Partner technologies like LayerZero significantly enhanced our project by providing a robust, generalized messaging framework for cross-chain operability, saving substantial development time and improving security.