Although 100% EVM-compatible, Bitlayer has several significant differences that set it apart from Ethereum. Some of these differences may persuade users, developers, and cryptocurrency operators to choose the platform for the world's largest smart contract network. Below are the key differences between the two blockchain environments:
Bitlayer's gas fees are lower than Ethereum's. During network congestion, the Ethereum network often faces double-digit gas fees. In contrast, Bitlayer's gas fees can remain consistently low due to efficiency mechanisms like optimism.
Bitlayer has a higher level of security. By using Bitcoin as its level 1, Bitlayer may have a higher security profile than Ethereum.
For developers and DApp operators, Bitlayer opens the way for access to vast holdings in BTC funds, which exceed the total amount of cryptocurrency funds held in ETH and all Ethereum-based tokens combined. Although ETH is used more actively than BTC in the DApp world, the total amount of cryptocurrency held in BTC is the main and dominant sum, higher than those locked in ETH—or any other crypto asset for that matter. As of August 2024, BTC remains a very dominant cryptocurrency, accounting for over 50% of all available cryptocurrency funds. Bitlayer provides a platform with access to this substantial amount, much of which remains unencumbered for the DApp industry.
The current DApp ecosystem of Bitlayer is significantly more limited than that of Ethereum. The total number of DApps on Bitlayer is, at best, just over 100. In contrast, Ethereum has over 4000 blockchain applications.
