#bitlayer Bitlayer is a Bitcoin Layer 2 solution that aims to expand the capabilities of Bitcoin beyond just a store of value. It's designed to bring smart contract functionality to the Bitcoin ecosystem, enabling the creation of decentralized finance (DeFi) applications and other decentralized applications (dApps).

Bitlayer achieves this by combining several advanced technologies:

* BitVM (Bitcoin Virtual Machine): This technology enhances Bitcoin's computing power while maintaining its core principles of security and decentralization. Bitlayer is one of the first projects to utilize BitVM.

* Zero-Knowledge (ZK) Proofs: These proofs allow transactions to be processed off-chain, increasing transaction speed and efficiency.

* Rollup Architecture: Bitlayer uses a rollup framework that bundles multiple off-chain transactions into a single batch, which is then settled on the main Bitcoin blockchain. This process significantly reduces congestion and costs.

* EVM Compatibility: The network is compatible with the Ethereum Virtual Machine (EVM), which allows developers to easily deploy their Ethereum-based dApps on Bitlayer, leveraging Bitcoin's security.

Essentially, Bitlayer acts as a scalable and efficient computational layer on top of Bitcoin. It allows for fast, low-cost transactions and the deployment of complex smart contracts, which can unlock new use cases for Bitcoin, such as lending platforms, decentralized exchanges, and cross-chain asset transfers. The project launched its mainnet in early 2024 and has since secured significant funding to support its development and ecosystem growth.

From $0 to $750M: The Bitlayer Story Changing Bitcoin's Future

This video provides an interview with the CEO and co-founder of Bitlayer, offering insight into the project's goals, technology, and success.

YouTube video views will be stored in your YouTube History, and your data will be stored and used by YouTube according to its Terms of Service