We introduce Bitcoin-IPC, a software stack and protocol that scales Bitcoin towards helping it become the universal Medium of Exchange (MoE) by enabling the permissionless creation of fully programmable Proof-of-Stake (PoS) Layer-2 chains, called subnets, whose stake is denominated in L1 BTC. Bitcoin-IPC subnets rely on Bitcoin L1 for the communication of critical information, settlement, and security. Our design, inspired by SWIFT messaging and embedded within Bitcoin's SegWit mechanism, enables seamless value transfer across L2 subnets, routed through Bitcoin L1. Uniquely, this mechanism reduces the virtual-byte cost per transaction (vB per tx) by up to 23x, compared to transacting natively on Bitcoin L1, effectively increasing monetary transaction throughput from 7 tps to over 160 tps, without requiring any modifications to Bitcoin L1.
翻译：本文介绍Bitcoin-IPC，这是一个软件栈和协议，旨在通过支持无需许可地创建完全可编程的权益证明（PoS）Layer-2链（称为子网）来扩展比特币，帮助其成为通用交换媒介（MoE），这些子网的权益以L1 BTC计价。Bitcoin-IPC子网依赖比特币L1来传递关键信息、进行结算并保障安全。我们的设计灵感来源于SWIFT消息系统，并嵌入比特币的隔离见证（SegWit）机制中，实现了跨L2子网的无缝价值转移，该转移通过比特币L1进行路由。独特的是，与在比特币L1上原生交易相比，该机制将每笔交易的虚拟字节成本（vB每交易）降低了高达23倍，从而有效地将货币交易吞吐量从7 tps提升至超过160 tps，且无需对比特币L1进行任何修改。
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