OKX Ventures announces investment in Bitcoin-native application and smart contract platform Arch Network

ChainCatcher news, OKX Ventures announced an investment in the Bitcoin-native application and smart contract platform Arch Network.

OKX Ventures founder Dora stated, "We are excited to invest in Arch Network, a Bitcoin-native application platform that draws inspiration from SVM (Solana Virtual Machine), utilizing parallelization and integrated zero-knowledge proof (ZK Proof) technology to facilitate dynamic, Turing-complete smart contracts on Bitcoin. This novel approach greatly enhances user experience and the trust assumptions of Bitcoin users, achieving a smooth, frictionless experience while maintaining a trustless relationship with dApps and protocols."

It is reported that Arch is the first Bitcoin-native application platform—offering cross-chain-free DeFi on the world's largest blockchain. The Arch Network is a parallelized proof-of-stake network that uses zk-proofs to enhance Bitcoin's native programmability. The network consists of a Rust-based zkVM (called ArchVM) and a decentralized validation network. These components together form a trustless execution environment directly on the Bitcoin blockchain, enabling a bridge-free transaction experience.