@BitlayerLabs is a Layer 2 network on Bitcoin, built on BitVM technology, providing security equivalent to Bitcoin and Turing-completeness. Founded in 2023 in Singapore, Bitlayer allows for scaling Bitcoin transactions, supports EVM-compatible smart contracts, and promotes DeFi on Bitcoin with high speed and low cost. It combines Zero-Knowledge Proofs to enhance performance, using BTC as the native gas token. Bitlayer has successfully raised: 5 million USD in seed round, 11 million USD in Series A from Franklin Templeton, and 9 million USD in extension, achieving a valuation of 300 million USD. This platform opens up significant potential for the Bitcoin ecosystem, including dApps, NFTs, and true decentralized financial applications. With BitVM at its core, Bitlayer ensures optimistic validation, reduces congestion on the main network, and enhances user experience. Its BTR token is trading on exchanges like CoinMarketCap, attracting attention from the crypto community.
