Fractal Bitcoin: An Innovative Attempt to Natively Extend Bitcoin

Abstract

Fractal Bitcoin will be launched on September 9, 2024, as an innovative solution within the Bitcoin ecosystem. The project expands Bitcoin's functionality in a native manner, introducing a unique hybrid mining model and smart contract support, while maintaining full compatibility with the Bitcoin mainnet.

Core Concepts and Technologies

Fractal, as a native extension of Bitcoin, utilizes the existing codebase and modifies block production parameters to achieve the following key technological innovations:

• 30 seconds block time, significantly improves transaction confirmation speed
• Hybrid mining mechanism, combining permissionless mining and pooled mining
• Supports unlimited tier expansion, with each tier providing a 20x capacity increase.
• Implement OP_CAT opcode to support Turing-complete smart contracts
• Allow applications to run independently optimized instances

Ecosystem Construction

Fractal adopts a decentralized and community-driven ecosystem development strategy:

• Encourage diverse cross-chain bridge solutions
• Open development environment that allows for free innovation
• Community-led governance
• Distributed Infrastructure Development

Support key projects through funding programs, such as sCrypt, F2Pool, Nubit, etc. Future plans include expanding the funding scope and deepening community participation.

Token Economics

• Token Name: FB (Fractal Bitcoin)
• Maximum supply: 210 million coins
• Allocation: 50% for PoW mining, 15% for ecosystem reserves, 10% for community rewards, 5% for pre-sale, 5% for advisors, 15% for core contributors
• Adopting a transparent release and lock mechanism
• Plan to implement a governance voting mechanism based on OP_CAT

Team and Cooperation

Core contributors include the UniSat and Block Space Force teams, who have extensive experience in cryptocurrency and blockchain. Collaborating with the Scrypt team to develop smart contract standards.

Challenges and Risks

• Programmability: Using Bitcoin scripts may hinder developer adoption
• Technical risks: Modifying core parameters and implementing new features may have potential vulnerabilities.
• Adoption Risks: Facing resistance from Bitcoin extremists, it is necessary to persuade users to migrate from existing solutions.

Conclusion

Fractal Bitcoin represents an innovative attempt to extend the functionality of Bitcoin, with advantages such as native integration, technological innovation, and a built-in user base. Despite facing challenges, its early adoption and ecosystem development show great potential, which could reshape the utility and application landscape of Bitcoin.