How does Bitlayer work?
Bitlayer uses a unique architecture that combines the best elements of validity-proofs and fraud-proofs.
BitVM: This technology allows for complex computations to be performed off the Bitcoin network and then verifies their correctness on the main chain. This significantly reduces the load on the network, making transactions faster and cheaper.
ZK (Zero-Knowledge): The use of zero-knowledge proofs (ZKP) ensures privacy and security. ZKP confirms that computations were performed correctly without revealing any information about the data itself.
BFT (Byzantine Fault Tolerance): To ensure reliability and resilience against attacks, Bitlayer utilizes a BFT mechanism. This guarantees that even if part of the validators is malfunctioning, the system remains stable.
These three components together create a powerful "security triangle" that allows Bitlayer to be efficient, secure, and decentralized at the same time.
Bitlayer's Economy
Native Token: The Bitlayer network has its own native token that is used for paying transaction fees, governance, and other operations.
Integration with $BTC