Bitlayer: Pioneering DeFi on Bitcoin
Bitlayer is at the forefront of bringing decentralized finance (DeFi) to Bitcoin through its innovative Layer 2 solution powered by BitVM. By enabling Turing-complete smart contracts on Bitcoin, Bitlayer allows for the development of DeFi applications such as lending, borrowing, and yield farming, which were previously challenging to implement on the Bitcoin network due to its limited scripting capabilities.
The platform's use of Zero-Knowledge (ZK) proofs ensures transaction privacy and scalability, while its EVM compatibility allows developers to port existing Ethereum-based DeFi protocols to Bitlayer with minimal adjustments. This interoperability, combined with the security of Bitcoin's base layer, positions Bitlayer as a compelling solution for users seeking decentralized financial services on the Bitcoin network.
