@BitlayerLabs #Bitlayer

Bitlayer Project Introduction

Bitlayer is a Layer 2 scaling and smart contract platform for the Bitcoin ecosystem, with BitVM (Bitcoin Virtual Machine) as its core technology, dedicated to providing programmability and high-performance processing capabilities while maintaining the security and decentralization features of Bitcoin.

Core Philosophy and Goals:

Security inherits from Bitcoin: Bitlayer's security model is directly based on the Bitcoin main chain, ensuring that the validity and finality of the L2 state rely on the Bitcoin network through an optimized rollup architecture.

• Turing Completeness: Introduces a programmable execution engine (such as EVM, etc.) to implement smart contract capabilities, enabling developers to build complex decentralized applications (dApps).  

• Cross-chain Compatibility: Supports interoperability with other virtual machines (such as Ethereum's EVM) so that developers can easily migrate Ethereum dApps to the Bitlayer ecosystem.  

Network Architecture and Technical Highlights:

• Hybrid Consensus Structure: Combines PoS (Proof of Stake) and rollup architecture. PoS provides high throughput and fast confirmation (seconds-level 'soft finality'), while rollup periodically submits L2 states to the Bitcoin main chain to achieve 'hard finality' (approximately 7 days) .

• Recursive Verification Mechanism: Utilizes the BitVM framework and recursive verification protocols to ensure that the L2 state is indeed validated by the Bitcoin main chain for its correctness. .

• Decentralized Validator Mechanism: Improves network censorship resistance and security through a rotating validator system and penalty mechanisms (such as locking Bitcoin as collateral).