Bitlayer is a Layer 2 scaling solution for Bitcoin that leverages the Bitcoin Virtual Machine (BitVM) paradigm and zero-knowledge proofs to enhance transaction speed and securely support advanced smart contracts. It is designed to address the scalability limitations and smart contracts of Bitcoin without sacrificing decentralization.
*Key Features:*
- *Scalability*: Bitlayer processes transactions off-chain and validates them on-chain using ZK proofs, achieving high throughput and low latency.
- *Security*: Bitlayer inherits Bitcoin's security guarantees and uses trustless bridge mechanisms for secure asset transfers.
- *Smart Contract Functionality*: Bitlayer supports complex smart contracts and decentralized applications (dApps), making it possible to build and run various applications on top of Bitcoin.
- *EVM Compatibility*: Bitlayer is fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to seamlessly migrate applications and tools from Ethereum to Bitlayer.
*Bitlayer Ecosystem:*
- *DeFi Applications*: Bitlayer supports various DeFi applications, including lending platforms like Trustin Finance and ENZO Finance, as well as stablecoin projects like Satoshi Protocol.
- *Gaming and NFTs*: Bitlayer offers scalable infrastructure for blockchain-based games and Bitcoin NFT marketplaces, with gaming platforms like Moonshot and Anome.
- *Launchpad*: Bitlayer has an asset launchpad like Pumpad, allowing developers to design and launch tokens.
*Bitlayer Tokenomics:*
- *Token Name*: $BTR
- *Total Supply*: 2.1 billion tokens, reflecting Bitcoin's limited supply.
- *Token Distribution*: 80% for liquidity provision, 15% for incubation projects, and 5% for governance.¹
