@BitlayerLabs Bitlayer ๐
Bitlayer is a Bitcoin Layer 2 solution designed to enhance scalability, functionality, and smart contract capabilities on the Bitcoin blockchain. It utilizes BitVM and Rollup technology to process transactions off the main Bitcoin chain, reducing congestion and fees while maintaining security ๐.
*Key Features:*
- *Scalability*: Bitlayer can handle up to 20,000 transactions per second (TPS) by the end of 2025, significantly improving Bitcoin's transaction capacity ๐
- *Smart Contract Compatibility*: Bitlayer supports Ethereum Virtual Machine (EVM) and Solidity, enabling seamless deployment of Ethereum dApps on Bitcoin ๐
- *Security Inheritance*: Bitlayer inherits Bitcoin's security model through its Rollup and BitVM architecture, ensuring trust-minimized transactions ๐
- *DeFi and NFT Support*: Bitlayer facilitates the creation of decentralized applications (dApps), DeFi protocols, and NFTs on Bitcoin ๐จ
*Partnerships and Funding:*
- Bitlayer has partnered with prominent blockchains like Base, Starknet, Arbitrum, Sonic, and Plume Network to drive NFTs and DeFi applications on Bitcoin ๐ค
- The project secured over $25 million in funding from notable investors like Framework Ventures, Polychain, Franklin Templeton, and OKX Ventures ๐ธ
*Tokenomics:*
- BTR is the native token of Bitlayer, used for staking, governance, and incentivizing ecosystem development ๐ก
- Total supply: 1 billion tokens, with 40% allocated to ecosystem development, 19.3% to investors, and 15% to the team ๐
*Potential Impact:*
- Bitlayer can unlock new use cases for Bitcoin, such as collateralized loans, liquidity pools, and yield farming, driving Bitcoin adoption in DeFi ๐ [5]$SOL