Bitlayer employs advanced technologies to address Bitcoin's challenges:
• BitVM: Creating a Turing-complete environment for smart contracts on Bitcoin without changing the native protocol.
• Layered Virtual Machine (LVM): Off-chain computation processing, reducing the load on the main blockchain.
• ZK Proofs: Ensuring privacy and transaction performance.
• Mainnet V2 (Q4/2024): Transitioning to a native Bitcoin rollup model, combining fraud proofs and ZK proofs.
• Mainnet V3 (6/2025): Finalizing the system with Bitcoin-level security and full smart contract support.
Roadmap:
• Mainnet V1 (4/2024): Successful launch, focusing on cross-chain and EVM compatibility.
• Mainnet V2 (Q4/2024): Enhancing security and performance, expected to deploy native rollups.
• Mainnet V3 (6/2025): Achieving Bitcoin-level security and complete programmability.
• Long-term goal: Processing 20,000 TPS (transactions per second) with a confirmation time of 3 seconds by the end of 2025.
Team and investors
• Team:
• Charlie Hu (Co-Founder & CEO): Experienced at Polygon, Tezos, Polkadot, leading business development strategy in Southeast Asia. He initiated the BitVM model.
• Kevin He (Co-Founder & CTO): Formerly a technical leader at Huobi, developed Heco Chain with a TVL of 14 billion USD. He contributed to building the BitVM Bridge.
• Investors: Major funds like Franklin Templeton, Polychain Capital, ABCDE, Framework Ventures, and OKX Ventures, demonstrating trust from leading financial institutions and venture capital funds.
Potential
• Expanding the Bitcoin ecosystem: Bitlayer helps Bitcoin transcend the limits of being just 'digital gold', unlocking potential for DeFi, NFTs, and complex applications.
• EVM compatibility: Attracts developers from Ethereum, facilitating the rapid development of DApps.
• Support from major organizations: The participation of Franklin Templeton, an ETF-licensed organization, marks a step forward in attracting traditional investment into blockchain.
• Community and media: Bitlayer has gained attention from major media outlets like Cointelegraph, Bitcoin Magazine, and Forbes, along with a growing global community in regions such as Vietnam, Nigeria, and India.
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