#Bitlayer What is Bitlayer?
Bitlayer is a Layer 2 (L2) solution designed to bring scalability and advanced features to Bitcoin while maintaining its unwavering security. It is based on the innovative BitVM paradigm, which allows the execution of Turing-complete smart contracts without altering the main Bitcoin network, fully compatible with the Ethereum Virtual Machine (EVM).
The platform offers low fees (~ $0.10 per transaction), quick confirmations (in about 3 seconds), and supports multiple VMs beyond the EVM, such as CairoVM, SolVM, and MoveVM.
Evolution and Technological Milestone
1•Mainnet V1 (PoS): Launched in April 2024, utilizing Proof of Stake and multisig for operation, already with EVM compatibility and basic cross-chain functionality.
2•Mainnet V2 (Rollup with BitVM): In development for 2025, will introduce native rollup to Bitcoin with state transitions validated by the main layer via BitVM Bridge.
3•Future Phases (End of 2025): Aims to achieve up to 20,000 transactions per second, maintaining quick confirmations and high scalability.
Token — $BTR
The BTR token will be the native governance, staking, and incentive currency within the network.
Planned Tokenomics:
1 billion units in total.
80% allocated to liquidity/ecosystem, 15% for development and marketing, 5% for advisors/exchanges.
Ecosystem and Applications
The protocol already hosts several dApps in the areas of DeFi, NFTs, gaming, and more, including platforms like Trustin Finance, ENZO Finance, LayerBank, OKX NFT Marketplace, Moonshot, and others.
Interoperability is a strong point: integrations with protocols like LayerZero extend its reach to over 90 blockchains.
Security and Audits
Bitlayer has already undergone several audits with companies like Hacken and SlowMist, achieving positive results. The assessments ranged from low to medium risk, with identified vulnerabilities being addressed.
