The Solana page of Bitcoin Layers is under development.
Bitcoin Layers' focuses its efforts on reviewing protocols that claim to be a bitcoin layer and BTC wrappers that live on alternative chains. Alternative network provide a snapshot into the network architecture, but largely focus on review related to BTC wrappers on the network. If the network is an Ethereum L2, we recommend heading to L2Beat for a deeper dive into the architecture.
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Solana
Overview
Status
Mainnet
Type
Alt. Layer 1
Fee Token
SOL
BTC Supply
₿0
Solana is an alternative proof-of-stake blockchain that supports a number of wrapped BTC tokens. It is home to the SVM execution environment which supports more expressive smart contracts.
CUSTODY
DATA AVAILABILITY
OPERATORS
FINALITY ASSURANCE
BTC Supply
Total supply per day
Supplycoming soon
TVL Data Coming Soon
We're currently gathering and building data infrastructure for this network. TVL analytics will be available soon.
Token Contracts
Token Contracts Coming Soon
We're working to collect the various BTC-backed token contracts for this network. Contract addresses will be available soon.
Risk Summary
All BTC pegs have custodian trust assumptions
All BTC backing wrapped tokens on this network are ultimately secured by custodians. Users trust that these custodians will not misappropriate funds and keep their assets pegged 1:1. Each custodian has their own risks. Learn more in the trust assumptions review section.
The network is an alternative blockchain
The network is an alternative blockchain. Users trust the economic security of the network to deter validators from censorship and creating malicious peg outs.
Trust Assumption Review
BTC Custody
Very High
🛑
cbBTC is managed by a centralized custodian.
Coinbase is responsible for securing the BTC that backs cbBTC. Users trust Coinbase to ensure the funds backing cbBTC are not stolen or lost.
In addition to securing the funds funds backing cbBTC, Coinbase can censor users from using cbBTC and maintains unilateral control of cbBTC's smart contracts.
In addition to securing the funds funds backing cbBTC, Coinbase can censor users from using cbBTC and maintains unilateral control of cbBTC's smart contracts.
Learn more about cbBTC's custody model→
Data Availability
Alternative PoS Network
⚠️
Data is stored and made available by an alternative PoS network
Data relative to the network's state is stored and made available by its full node set. Anyone can run a full node and verify the state of the network.
Network Operators
Alternative PoS Network
⚠️
Solana is operated by a distributed validator set
The network's blocks are constructed by a distributed validator set. Validators participate in a proof-of-stake consensus network. Anyone with sufficient resources and token stake can become a validator and participate in block production.
Finality Guarantees
Alternative PoS Network
⚠️
We are currently reviewing Solana's specific finality guarantees
Solana's finality guarantees are achieved through a distributed consensus mechanism. We are reviewing relevant trust assumptions.
Partial Review Available
This project is currently undergoing a partial review. The trust assumptions and risk analysis above are available, but additional sections are still in progress.
Additional analysis and documentation will be added once our review is complete.