#Bitlayer Bitlayer is a Layer 2 scaling solution designed to bring smart contracts to the Bitcoin ecosystem, leveraging Bitcoin Virtual Machine (BitVM) technology and Zero-Knowledge (ZK) proofs. This solution enables faster and cheaper transactions, making it possible to support a wide range of decentralized applications (dApps).
*Key Features:*
- *Scalability*: Bitlayer processes transactions off-chain, reducing congestion on the Bitcoin network and increasing transaction throughput.
- *Smart Contracts*: Bitlayer supports complex smart contracts, enabling the creation of decentralized finance (DeFi) applications, gaming platforms, and other use cases.
- *Cross-Chain Transactions*: Bitlayer's asset bridge allows for secure and efficient transfers between Bitcoin and other blockchains.
- *EVM Compatibility*: Bitlayer is compatible with the Ethereum Virtual Machine (EVM), making it easy for developers to migrate applications from Ethereum to Bitlayer.
*Benefits:*
- *Faster Transaction Speeds*: Bitlayer's three-second block confirmation time enables near-instant transactions.
- *Lower Transaction Fees*: By processing transactions off-chain, Bitlayer reduces the load on the Bitcoin network, resulting in lower fees.
- *Enhanced Security*: Bitlayer's use of ZK proofs and BitVM ensures secure and tamper-proof transactions ¹ ².
*Bitlayer Ecosystem:*
- *DeFi Applications*: Bitlayer supports various DeFi projects, including lending platforms, stablecoin projects, and decentralized exchanges.
- *Gaming Platforms*: Bitlayer enables the creation of blockchain-based games and NFT marketplaces.
- *Launchpads*: Bitlayer features launchpads for token sales and fundraising.
*Tokenomics:*
- *$BTR Token*: The native token of the Bitlayer ecosystem, used for governance, staking, and transaction fees.
- *Token Supply*: The total supply of $BTR tokens is capped at 2.1 billion ² ³.