@BitlayerLabs
The decentralized finance ecosystem for Bitcoin (DeFi), known as BTCFi, is growing significantly despite the lack of native smart contract functionality on the Bitcoin blockchain. A variety of technologies are being used to overcome this limitation and bring DeFi and other decentralized solutions to the Bitcoin system. One of the main ways to enable this functionality in the Bitcoin environment is by using computing engines, or virtual machines (VMs), that can execute smart contracts. Additionally, some second-layer platforms are also used to support decentralized applications (DApps) on Bitcoin.
