Bitlayer, as a Layer 2 solution for Bitcoin, has its advantages mainly in the following aspects:
1. **Technical Innovation**: Introducing BitVM (Bitcoin Virtual Machine), achieving Turing completeness, supporting complex smart contract execution, filling the gap in the smart contract domain of the Bitcoin native network. Utilizing a Layered Virtual Machine (LVM) architecture, combined with Zero-Knowledge Proofs (ZKP) and Optimistic Verification (OP) technology, it enhances computational efficiency and reduces the load on the main chain.
2. **Ecosystem Development**: Over 280 native projects have been attracted, covering fields such as DeFi, NFTs, and blockchain games, with a total value of locked assets (TVL) on-chain reaching $713 million. Partnerships have been established with more than 30 projects, including LayerZero and AWS Cloud, to integrate resources and promote ecosystem development.
3. **Team and Capital Support**: Core team members come from well-known projects such as New Fire Technology, Polygon, and Polkadot, possessing rich experience in blockchain development. Multiple rounds of financing have been completed, with a total of $25 million raised, and investors include top institutions such as Franklin Templeton and Polychain Capital, gaining market recognition.
4. **Ultra-Low Transaction Costs**: The efficient Rollup architecture significantly reduces transaction costs, making complex smart contract interactions economically feasible for users.
5. **Security**: It inherits Bitcoin's unparalleled security through its innovative Rollup architecture, which directly verifies second-layer state transitions on the Bitcoin base layer.
These advantages give Bitlayer strong competitiveness and broad development prospects in the Bitcoin Layer 2 field.
