Updated: September 9, 2024, 3:13 AM EDT
Fractal Bitcoin, the highly anticipated Bitcoin scaling solution backed by wallet provider Unisat, has launched its mainnet today, showcasing a scaling solution that operates directly on the Bitcoin Core codebase.
The mainnet debut follows a series of tests on the testnet that began in July 2024. Fractal Bitcoin claims to be the only Bitcoin scaling solution that uses the core code itself. It aims to differentiate itself from other Bitcoin sidechains and alleged layer 2 solutions by focusing on Bitcoin native architecture rather than Ethereum Virtual Machine (EVM) compatibility. The approach also extends Bitcoin’s functionality by incorporating the OP_CAT instruction.
The project states that the network achieves block confirmation times of less than 30 seconds and claims to increase capacity per layer by 20x through what is known as recursive layering. Fractal can natively support Bitcoin protocols such as BRC-20, Runes, Ordinals, etc. A decentralized exchange called PizzaSwap is set to be available on the mainnet.
It also integrates a new mining architecture called “Cadence Mining” that combines permissionless mining with merged mining via Bitcoin to improve network security. The project is led by Bitcoin-based wallet app Unisat and blockchain investor and development firm Block Space Force as key contributors.
With the launch of the mainnet, the project also launched its native token with the ticker FB, with a total supply of 210 million tokens. Half of these tokens are allocated to Proof of Work mining, while the other half has already been pre-mined for various purposes including core contributors, investors, ecosystem treasury, and community grants.
Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.
© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.