#Bitlayer is a Layer 2 solution designed to enhance the capabilities of Bitcoin, providing a secure and scalable environment for running smart contracts and decentralized applications (dApps) on the Bitcoin network. It is based on BitVM technology to integrate smart contract functionalities with the underlying security of the Bitcoin network. It aims to empower the Bitcoin community to benefit from DeFi advantages and other innovations that have been limited to other blockchains.

Key features of Bitlayer:

Security at the Bitcoin level:

Bitlayer relies on the underlying security of the Bitcoin network, ensuring strong protection for transactions and assets.

EVM Compatibility:

Bitlayer supports the Ethereum Virtual Machine (EVM) interface, allowing developers to easily port their applications and smart contracts from Ethereum.

Scalability:

Bitlayer employs a rollup architecture to enhance transaction speed and reduce costs while maintaining security.

BitVM Gateway:

Bitlayer provides a bridge built on BitVM that reduces the required trust, making it easier to securely transfer Bitcoin assets between networks.