Bitcoin-native EVM compatible Rollup SatoshiVM, step-by-step guide on how to cross-chain into the ecosystem
With the recent success of the Bitcoin Layer 2 ecosystem attracting market attention, the narrative of BTCfi is also gradually gaining interest, with SatoshiVM, a standout in the Bitcoin Rollups space, recently launching its testnet. This article will introduce how to participate in the SatoshiVM ecosystem.
Table of Contents
What is SatoshiVM
Introduction to SatoshiVM
SatoshiVM is a ZK Rollup for the Bitcoin ecosystem, compatible with the Ethereum Virtual Machine (EVM), and uses native BTC as the fuel payment token.
The vision of SatoshiVM is to link the EVM ecosystem with Bitcoin. Developers can build on top of SatoshiVM just like on Ethereum, enabling the Bitcoin ecosystem to truly issue assets and develop higher-level applications and services similar to Ethereum.
Security Equivalent to Bitcoin
SatoshiVM bundles multiple transactions into one proof using Rollup technology, and verifies it on the Bitcoin mainnet, ensuring the same level of security as the Bitcoin main network.
By utilizing technologies like Taproot and Bitcoin Script, SatoshiVM conducts on-chain verification of contracts without altering the consensus rules of the Bitcoin network, completing the calculation of verification proofs.
The data availability of the SatoshiVM architecture is also currently built on the Bitcoin mainnet.
Ethereum Compatibility
As SatoshiVM is compatible with the Ethereum Virtual Machine, users can directly participate in the network using the Metamask wallet, and developers can easily migrate existing EVM contracts to operate on SatoshiVM.
How to Enter the SatoshiVM Ecosystem
One can view SatoshiVM as another EVM-compatible network, where other on-chain applications may emerge in the future, such as basic decentralized exchanges (DEXs), lending protocols, staking, etc. Interested readers can already participate in its test network.
This article will demonstrate how to bridge tBTC test BTC, the native test token of the Bitcoin testnet, into the SatoshiVM test network. The process is roughly as follows:
- Set up a Bitcoin wallet
- Receive tBTC
- Connect Metamask to SatoshiVM
- Bridge from the Bitcoin network to SatoshiVM
- Complete
Set Up a Bitcoin Wallet
If users do not have a Bitcoin wallet, they can download the UniSat Wallet here, or choose another wallet compatible with the Bitcoin network.
In the wallet settings, ensure that the network type is Native Segwit, and select TESTNET for the network.
Receive tBTC
Currently, the team provides two Bitcoin testnet faucets where users can receive free tBTC test tokens:
However, after testing, only the first link, Bitcoinfaucet, was successful in obtaining test tokens.
Add SatoshiVM Network to Metamask
This step involves manually adding the SatoshiVM network RPC to Metamask:
- Network Name: SatoshiVM Testnet
- Chain ID: 3110
- Currency Symbol: BTC
- RPC URL: https://test-rpc-node-http.svmscan.io
- Blockchain Explorer: https://testnet.svmscan.io/
Bridge
Finally, use the cross-chain bridge provided by the SatoshiVM team to link the UniSAT wallet with the Metamask wallet and bridge the test tokens from the UniSat wallet to the SatoshiVM network.
The official statement mentions that the bridging process may take about an hour, but in practice, it took over three hours. It's important to note that a transaction fee is also required, so it's advisable to reserve some tBTC and not bridge all tokens, as transferring too small an amount may result in lost transactions. It's recommended to bridge at least 0.00006 tBTC for safety.
Completion! Now, wait to see what projects emerge in this ecosystem and freely participate in them.