The 'super-class' first Layer 2 chain bitlayer, based on BitVM as a secure equivalent of BTC, finally began its TGE six months after completing a series of activities launched with Binance wallet in February this year. My first encounter with bitlayer was through a series of activities launched in collaboration with OKX wallet last July.
What is #Bitlayer ?
Bitlayer is the first Layer 2 based on BitVM that is a secure equivalent for Bitcoin. Bitlayer is committed to becoming the computing layer for Bitcoin, aiming to introduce ultra-scalability while inheriting its security, providing users with a high throughput and low-cost trading experience. The core goal of Bitlayer is to address the trade-off between security and Turing completeness for Bitcoin Layer 2 through cryptographic innovation and blockchain engineering.
Currently, Bitlayer is building a trust-minimized BitVM bridge, yield asset YBTC, and high-throughput Bitcoin Rollup, bringing true utility, speed, and composability to Bitcoin, and establishing a complete DeFi infrastructure for the Bitcoin ecosystem.
After experiencing the Bitlayer ecosystem this year, I summarize that the core Bitlayer ecosystem mainly revolves around DeFi, which collaborates with different dapps to launch a series of DeFi, including those related to Layer, Zearn, BR, and a series of BTC DeFi-related ecosystems.
Riding the bull market TGE, the project team seems to have held back something big, hoping for a big price increase as well.