Bitlayer is a Layer 2 scaling solution designed to enhance the Bitcoin ecosystem by introducing smart contract functionality and improving scalability. It leverages Bitcoin Virtual Machine (BitVM) technology and Zero-Knowledge (ZK) proofs to achieve this.
*Key Features:*
- *Scalability*: Bitlayer processes transactions off-chain, increasing throughput and reducing costs.
- *Smart Contracts*: Supports complex smart contracts through its Turing-complete BitVM environment.
- *Cross-Chain Transactions*: Enables secure asset transfers between Bitcoin and other blockchains via its asset bridge.
- *EVM Compatibility*: Seamlessly integrates with Ethereum-based dApps and solutions.
- *Security*: Inherits Bitcoin's security model while providing additional security features.
*Benefits:*
- *Faster Transaction Speeds*: Bitlayer's three-second block confirmation time makes transactions faster and cheaper.
- *Decentralized Finance (DeFi)*: Supports various DeFi applications, such as lending platforms and stablecoin projects.
- *Gaming and NFTs*: Provides a scalable infrastructure for blockchain-based games and NFT marketplaces.
*Bitlayer Ecosystem:*
- *DeFi Projects*: Includes lending platforms like Trustin Finance, ENZO Finance, and LayerBank.
- *Gaming Platforms*: Features Moonshot and Anome for Web3 gaming.
- *NFT Marketplaces*: Supports OKX NFT marketplace for NFTs, Ordinals, and Runes.
*Tokenomics
- *Token Name*: $BTR
- *Token Supply*: 2.1 billion
- *Allocation*: 80% for liquidity provision, 15% for incubation projects, and 5% for governance ¹.
