#CryptoIntegration
*Bitlayer* is an innovative Layer 2 solution for the Bitcoin network, aimed at expanding Bitcoin's capabilities in decentralized finance (DeFi) by enabling smart contracts without the need to modify the core Bitcoin protocol.
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🧠 What is Bitlayer?
Bitlayer is developed using the *BitVM* framework, which allows for the execution of smart contracts on the Bitcoin network without substantial changes to the protocol. Bitlayer is based on a structure that combines proof of stake (PoS) to accelerate block production and a Rollup system that directly links security to the Bitcoin network. [1]
🔗 BitVM Bridge: A secure bridge for Bitcoin
Bitlayer launched the *BitVM Bridge*, which enables users to transfer Bitcoin to other networks in a secure and trust-minimized manner. This bridge issues YBTC tokens that are pegged 1:1 to Bitcoin, allowing them to be used in various DeFi applications. [2]
📈 Ecosystem growth
- Bitlayer has launched over 200 decentralized applications (dApp) on its network.
- The total value locked (TVL) has reached $850 million. [3]
- A $50 million incentive program has been launched to support developers and new projects. [4]
🤝 Support from mining pools
Bitlayer is supported by major Bitcoin mining pools like Antpool, F2Pool, and SpiderPool, which represent over 31% of the hash rate of the Bitcoin network. [5]
🧩 Diverse applications
Bitlayer supports a wide range of applications, including:
- Lending platforms like Trustin Finance and ENZO Finance.
