Bitlayer is a revolutionary Bitcoin Layer 2 scaling solution that leverages Bitcoin Virtual Machine (BitVM) technology to bring smart contract functionality and scalability to the Bitcoin network:
*Key Features:*
- *Scalability*: Bitlayer processes transactions in batches before confirming them on the Bitcoin public ledger, increasing the network's capacity.
- *Smart Contracts*: Bitlayer supports complex smart contracts, enabling the development of decentralized applications (dApps) on Bitcoin.
- *Cross-Chain Transactions*: Bitlayer's bridge technology allows seamless transfers of assets and data across platforms, connecting Bitcoin to other blockchain ecosystems.
*Partnerships and Funding:*
- *Strategic Partnerships*: Bitlayer has partnered with leading blockchains like Base, Starknet, Arbitrum, Sonic, and Plume Network to inject Bitcoin liquidity into multichain ecosystems.
- *Funding*: Bitlayer has raised $25 million from investors like Polychain Capital, Framework Ventures, OKX Ventures, and GSR, with a target to raise an additional $6 million via ICO on CoinList.
*Use Cases:*
- *DeFi Applications*: Over 20 DeFi applications are already using the Bitlayer platform, including lending platforms like Trustin Finance and ENZO Finance.
- *Gaming and NFTs*: Bitlayer supports blockchain-based games and NFT marketplaces, such as Moonshot and OKX NFT marketplace.
- *Yield Farming and Liquidity Pools*: Bitlayer enables users to participate in yield farming and liquidity pools, earning rewards from various DeFi protocols .#Bitlayer @BitlayerLabs
