ZKM has announced the launch of GOAT Network, a Bitcoin layer-2 (L2) network, set to go live in Q3, 2024. This marks the first universal Bitcoin L2 to share network ownership.
GOAT Network leverages ZKM’s Entangled Rollup technology, benefiting from Bitcoin’s security. Unlike other Bitcoin L2s, GOAT Network uses a decentralized sequencer model, allowing nodes to earn yield on their BTC and from fees. This approach aims to create an ecosystem managed by partners and stakeholders.
At launch, five institutional nodes will have pledged 5,000 bitcoins to secure the network, with seven node operators in total. Several decentralized applications (dApps) are expected to be available on day one, including a decentralized exchange (DEX) and a zero-gas platform for BRC-20 token trading.
Ahead of the mainnet launch, GOAT Network will open a Series A funding round, following a $5 million pre-A fundraiser. This initiative underscores the strategic importance of decentralization and shared network ownership in the evolving Web3 landscape.
