Native Bitcoin
Introduction
OP_NET is built directly on Bitcoin, leveraging its UTXO-based system to provide a robust foundation for smart contracts, tokens, and decentralized applications (dApps). By utilizing Bitcoin natively, OP_NET ensures unparalleled security, decentralization, and compatibility with the Bitcoin ecosystem.
OP_NET operates without requiring any changes to Bitcoin’s protocol, maintaining full compatibility with Bitcoin Core.
What Does "Native Bitcoin" Mean?
- Direct Integration: OP_NET operates on Bitcoin’s base layer, using its UTXO model for state management and contract execution.
- No Forks or Modifications: OP_NET does not require any changes to Bitcoin’s protocol.
- Gas Fees in Satoshis: All transaction fees are paid in Bitcoin, ensuring simplicity and consistency for users and developers.
Why Use Bitcoin Natively?
Security and Decentralization
Bitcoin is the most secure and decentralized blockchain. By building directly on Bitcoin, OP_NET inherits these characteristics, providing a strong foundation for dApps and smart contracts.
Proven Resilience
With over a decade of uninterrupted operation, Bitcoin's network has demonstrated unparalleled resilience against attacks, ensuring long-term stability for applications built on its foundation.
How OP_NET Leverages Bitcoin
Tapscript for Smart Contracts
OP_NET extends Bitcoin's scripting capabilities using Tapscript, enabling advanced smart contract functionality while maintaining Bitcoin’s minimalistic approach.
Gas Fees in Satoshis
OP_NET introduces a gas system where:
- Fees are measured in satoshis per byte.
- Priority Fees: Users can pay additional fees to prioritize their transactions, incentivizing faster inclusion in blocks.
Transaction costs and priority fees may vary depending on network congestion.
Use Cases Enabled by Native Bitcoin
1. Decentralized Applications (dApps)
Developers can build dApps that interact directly with Bitcoin’s UTXOs, ensuring security and scalability.
2. Tokenization
OP_NET supports token standards like OP_20 and OP_721, enabling the creation of fungible and non-fungible assets directly on Bitcoin.