We have a newcomer at Binance #Bitlayer
Bitlayer is a layer two (L2) protocol on the Bitcoin network developed with the aim of improving scalability and efficiency of Bitcoin transactions. By utilizing the BitVM implementation, Bitlayer allows for the execution of smart contracts and decentralized applications (dApps) on the Bitcoin network.
This protocol is designed to attract user liquidity with low gas fees and an efficient user experience. Bitlayer has shown rapid growth and successfully attracted the attention of various projects and investors in the blockchain ecosystem.
The Bitlayer team has just participated in GM Vietnam Blockchain Week and appeared at the EthCC conference last month.
This aims to actively promote their work and the philosophy of BitVM. The median gas fee of Bitlayer is currently quoted at $0.4 (around Rp6,400), and the total value locked (TVL) of this protocol has nearly tripled to about $354 million (around Rp5.66 trillion).
As a result, Bitlayer ranks second in the TVL ranking of the Bitcoin network, only behind Merlin Chain. Interestingly, the TVL of Merlin Chain more than doubled in one day last month. The Bitlayer ecosystem has grown to over 100 decentralized applications (dApps).
@BitlayerLabs #Bitlayer
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