@BitlayerLabs Bitlayer is a Bitcoin Layer 2 solution designed to enhance Bitcoin's functionality by introducing smart contracts and decentralized applications (dApps) while maintaining the security of the Bitcoin network. It achieves this by leveraging the BitVM paradigm and zero-knowledge (ZK) proofs, acting as a rollup that batches transactions off-chain and settles them on Bitcoin. Bitlayer is also fully EVM-compatible, allowing for seamless migration of Ethereum dApps and assets, and features cross-chain bridges for asset and data transfe
Here's a more detailed explanation:
Layer 2 Solution for Bitcoin:
Bitlayer operates as a second layer on top of the Bitcoin blockchain, aiming to address scalability limitations and enable more complex functionalities like smart contracts and dApps.
BitVM and ZK Proofs:
It utilizes the BitVM framework, which allows for the execution of Turing-complete smart contracts on Bitcoin, and leverages ZK proofs for efficient and secure transaction validation.