Asset Bridge

Transferring assets from Bitcoin's Layer 1 (L1) to BitSnap L2's is termed a deposit. Users need to transfer bitcoins to a designated deposit address provided by BitSnap L2. Once initiated on Layer 1, deposit transactions are detected by the Layer 2 Sequencer, which subsequently includes them in Layer 2 blocks. Users receive an equivalent amount of assets within the BitSnap L2 network shortly after, typically processed within minutes of the final confirmation of the Layer 1 block, often requiring the time equivalent to 6 Bitcoin blocks. Upon deposit, users' Bitcoin assets are represented within their account abstraction wallets in BitSnap L2, ensuring seamless management and utilization of assets within the Layer 2 ecosystem.

Conversely, withdrawing assets from the BitSnap L2 mainnet to Bitcoin's Layer 1 (L1) involves a more intricate process. Similar to deposit transactions, any asset movement from L2 to L1 is termed a withdrawal transaction. The withdrawal process entails the following steps:

1. The user initiates a Layer 2 transaction, indicating a withdrawal and specifying the desired amount to be withdrawn from their account abstraction wallet.

2. Upon confirmation of the Layer 2 block containing the withdrawal transaction, the user submits a withdrawal proof on Layer 1. This action prompts the withdrawal of an equivalent amount of assets from a publicly managed account.

3. The user then awaits the conclusion of the withdrawal challenge period, which typically spans several hours, before the assets are successfully withdrawn from BitSnap L2 and transferred back to their Bitcoin address on Layer 1.