đ¨đĨBitlayer â Bitcoinâs First Layer 2 with BitVM
Overview:
Bitlayer introduces BitVM, bringing Turing-complete smart contracts to Bitcoin. This Layer 2 solution boosts scalability and programmability while preserving Bitcoinâs security and decentralization.
Technical Architecture:
Layered Virtual Machine (LVM): Separates smart contract execution from the main chain, enabling complex computations securely.
Hybrid Validation: Combines zero-knowledge proofs with optimistic execution for scalable and verifiable state transitions.
Security Model:
Anchored in Bitcoinâs proof-of-work.
Periodic Layer 2 state commitments ensure all transactions are secured by Bitcoinâs robust network.
Ecosystem & Developer Incentives:
$50M Developer Program to attract dApp builders.
Over 280 projects deployed as of May 2024, signaling rapid ecosystem growth.
Impact: Bitlayer enhances Bitcoinâs capabilities, providing a secure, scalable foundation for decentralized applications without compromising core principles.
