Posted 3/27/2024, 4:00:00 PM
BOB Raises $10M to Enable Ethereum Smart Contracts on Bitcoin
- BOB raises $10M in seed funding to build a Bitcoin layer-2 network with Ethereum smart contract compatibility
- Led by Castle Island Ventures; aims to enable Ethereum Virtual Machine contracts on Bitcoin
- Name BOB stands for "Build on Bitcoin"
- Bringing Ethereum contracts to Bitcoin seen as challenging due to performance concerns
- Proposes off-chain computation like optimistic rollups to avoid overloading Bitcoin network
