@BitlayerLabs & The Race to Elevate Bitcoin to the DeFi Era – The Position of 'Ethereum on Bitcoin'
Bitcoin has long been seen as 'digital gold' – a store of value asset rather than an application platform. However, the Bitcoin Layer 2 trend is opening up a new era, bringing BTC into the DeFi age, where it is not only a storage tool but also becomes the center of decentralized financial activities.
And Bitlayer is one of the pioneering names, aiming to become the 'Ethereum on Bitcoin'.
Unlike many other Layer 2 projects that focus solely on increasing transaction speed, Bitlayer builds a complete ecosystem, allowing the development of smart contracts similar to Ethereum while inheriting maximum security from the Bitcoin network. This means that DeFi, NFT, GameFi... applications can operate directly on the Bitcoin infrastructure instead of relying on Ethereum or other chains.
An important advantage of Bitlayer $BTR is its compatibility with EVM (Ethereum Virtual Machine), allowing developers to easily bring dApps from Ethereum to Bitcoin without needing to rewrite from scratch. This is the 'bridge' that helps billions of USD in liquidity from the Ethereum ecosystem flow into Bitcoin DeFi quickly.
In the context of capital flows seeking new narratives, Bitcoin DeFi is becoming an attractive 'pie'. If Ethereum exploded thanks to DeFi Summer 2020, then Bitcoin could completely replicate this scenario with Bitlayer acting as the catalyst.
With the ambition to become the standard infrastructure layer for DeFi on Bitcoin, Bitlayer not only wants to expand the potential of BTC but also lays the foundation for an era where Bitcoin is both a reserve asset and the center for trading, borrowing, lending, and complex financial products – a 'new Ethereum', but built on the most solid foundation in the crypto market.
