#Bitlayer ๐๐๐ค๐๐๐ฌ..โ๏ธโ๏ธ๐๐ป๐๐ป
๐จ๐Bitlayer is a Layer 2 network on Bitcoin, aimed at improving the speed and efficiency of transactions on the network. Bitlayer uses BitVM technology, which allows for the execution of smart contracts on Bitcoin in a more efficient and secure manner.
*Features of Bitlayer:*
- *Transaction Speed:* Bitlayer is characterized by fast transaction processing, making it suitable for applications that require high speed.
- *Security:* Bitlayer employs advanced security technologies to protect transactions and users.
- *Scalability:* Bitlayer boasts high scalability, allowing it to process a large number of transactions simultaneously.
*Developments of Bitlayer:*
- *Funding:* Bitlayer raised $25 million in an extended Series A funding round, led by Polychain Capital and Franklin Templeton.
- *Development:* Bitlayer is working on developing Mainnet V2, which will provide significant improvements to the network.
- *Partnerships:* Bitlayer has collaborated with companies such as Ankr, Polyhedra, Particle Network, and Babylon ยน ยฒ.
*Goals of Bitlayer:*
- *Enhancing Bitcoin Efficiency:* Bitlayer aims to improve the speed and efficiency of transactions on the Bitcoin network.
- *Supporting Decentralized Applications:* Bitlayer seeks to support the development of decentralized applications on Bitcoin.
- *Providing Security:* Bitlayer works to provide high security for users and transactions.
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