[REDACTED] 2024 | BitHive – Stake Your BTC With Unparalleled Security

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1. 0:00

   uh good afternoon everyone uh my name is Amos um just a quick uh introduction about myself so uh currently I'm the founder of met web VC uh wor $3 million uh USD fund uh invest a lot in the new ecosystem uh some more backers uh include seoa dragonfly snz uh and more uh at the same time uh I were I'm also like uh incubating lots of project and behive is one of those project that we invested and and you know incubated uh and H why uh I'm giving a little bit introduction today uh and previously I

2. 0:33

   was actually part of the new funding team uh I was a CMO at one point head of Asia at one point and also the first part manager joining near uh many years ago hello everyone I'm um Unice the head of marketing um at bive and U before joining bive I was um actually leading marketing support for some top near D5 projects and um previously I was also part of um near Foundation as a community manager and um before that I was also the community manager at block

3. 1:03

   one back in 2017 uh so let's talk about Bitcoin uh you know it just broke keep bring um alltime High uh over over again right uh this week so everyone is super excited uh it is you know uh a gigantic Market uh with 21 million Bitcoin all there uh but unfortunately because Bitcoin as one the first uh blockchain uh it doesn't support smart contract uh so a lot of those Bitcoin are not actually being utilized um and in terms of like the

4. 1:34

   Defi and you know all the BTC layer too uh you essentially have to compromise in a sense that you know uh either using some like uh custodial Bridge or NPC based uh solution uh so hence why uh we still think like the adoption is still at early stage and on the other hand you know a lot of the POS chain and all the AVS um actually need uh additional security because you know there are lots of services like Oracle like Bridges and even some of the AI applications are

5. 2:05

   starting to using blockchain uh to build uh the product right uh but the issue is the um it's really difficult to boostup uh not every chain or every product is actually like near uh that can actually take off with such a large market cap uh as you know the security of a lot of the blockchain um protocol actually uh relies on the market cap of the underlying token right um so here's the

6. 2:29

   reason why why uh we kind of start working on this project called uh beehive uh and essentially is uh we're ready to tackle the Bitcoin staking Market uh which is still very much yet uh untapped uh so I'm going to head over the stage to Unice um to to introduce behalf um thank you Amis um for giving us a very um detailed background of why we founded U bive so now I will carry on

7. 2:51

   and um introduce more about bive and how um it's going to transform Bitcoin staking as well as um to empower the near ecosystem um so bive actually provides um BTC staking in a direct um non-custodial way and um there's also no need to um Bridge um any assets in between so um this ensures a full um control over um the uses asset throughout the whole process and um behive protocols also is very secure and trustless in the way because um we

8. 3:22

   utilize this near call technology which is um chain signature um for sticking operations such as um slash and delegation Etc and um uh behive is also uh providing very Diversified use cases which supports a variety of applications from AVS um like oracles Bridges and um ders and um to POS um security as well yeah so uh and also um last but not least uh with the integration of the all Stakes omn chain um Master restating protocol um has also allow BTC to

9. 3:58

   contribute to share security um by using a very diverse set of um assets such as near um ethereum as salana Etc um so now we go through the system architecture of bive um first of all there will be three um Innovative components of bive which includes um like clients which um verifies um BTC transaction um ch um chain signature as I mentioned earlier which helps signs um BTC transaction and also relayer that helps um U monitor BTC transaction and

10. 4:30

    also submit the information to um the near chain um on a high level um beit hiive um no matter um uh regardless of like depositing or um withdrawing your assets um is is everything is run directly um on through the BTC native script so everything is um to ensure the higher security and also um we ensure that user will have the whole um whole control of all the assets and then um train signature is also playing a very vital role on behalf because um it house

11. 5:00

    facilitates the BTC operation on the behive contract such as um accounting delegation slashing and rewarding so now we can talk a bit more about um the process of depositing and withdrawal um on behalf um when a user um submit the deposit um uh the transaction will be initiated um by the users um BTC address directly through the BTC um screen uh Native script so um the user will have

12. 5:32

    like whole control of their funds and after that um the relayer will take place and to submit the information to behive contract and later on the behive contract will verify the transactions um validity um by using the BTC like client and to record the um the whole um deposit information such as um the state amounts um involved um when it comes to uh withdrawal it will also need both um the beehives contract um chain signature as well as the um the private

13. 6:05

    address but um well when it comes to very worst scenario when the chain signature is um unavailable the user can still use um their own private key in order to uh withdraw the assets but um it will just take a certain period set of time let's say um three months so in other words we can say that um the bive contract is very secure and then the stake Bitcoins um on it will always is secure and um the users will also have the full control of their own

14. 6:34

    funds so now we can see like the last part of the architecture is that um we also integrated um all Stakes masy saking which provides a variety of use cases um that includes the securing of POS and also AVS so for um securing POS um um networks because bives is leveraging BTC as a security layer to enhance Economic Security across um diverse POS chains it integrates with um different POS chains

15. 7:06

    um that irrespective of base layer architecture or consensus algorithm so we basically support um all P chains in yeah in a simple word um and in terms of securing ABS um B has also utilizes BTC staking to security centralized infrastructure including oracles um cross strength briges da layers and most importantly um AI applications so now we'll go um a bit deeper about how um behive is empowering near AI because um AI has been a very big Focus

16. 7:38

    um in the near ecosystem and then today um we also have a lot of um speaker talking about AI so that is how behive um empowers near AI in four different ways first is the decentralized interface because um behive allows users to run um large language models without relying on a single provider so it enhances um trust and security and then it also provide very flexible Security Solutions with customizable security leasing options and also it helps with um collaborative model training and last

17. 8:10

    but not least because it utilizes atic Mash with staking so it ensure very high quality um verified data while um protecting against tempering when you think about um Bitcoin staking you will like first the the first project that comes in your mind would be Babylon because it's the earliest um protocol that comes up with this idea and is also one of the top um Bon staing protocol right now but um there's like there's one main differen that's between us and Babylon uh which

18. 8:40

    is um the use of technology unlike Babylon which is operating um its own DS chain on uh by based on Cosmos technology um behive is utilizing near protocols and then it gives us um a more decentralized secure and reliable platform because um near as for now is 100% of time since our mainnet launch in October um 2020 and currently we have over 220 fellow datas and because of um the near chain signature and L kind it also supports all types of um POS chains

19. 9:13

    and it gives us a lot of more variety of um use cases compared to Babylon so here's the timeline um actually we are going to have our main that launch very soon um which is um later this month and then by that time you able to deposit withdraw and there's also points as done for the platform and then um later this year we'll also introduce um delegation and ARS um so and then next year we also have plans to integrate M resticking for BTC and also have um slashing mechanism as well as

20. 9:44

    secure chain signature MPC network with BTC um because of the very U the background of the team so we have actually secured a very strong ecosystem partners for the project to help us with the development but um if any of you have um if if any of you have like your own projects that is regardless if it's on near or not um that would like to work with us and partner with us in any different ways please also reach out to us after um this talk and then uh we can connect with each other and see how we

21. 10:17

    can work with each other so um yeah I think that is it um if you want to know more about us please check our website be.i and read our light paper and also follow our eggs thank you