@BitlayerLabs Why is Bitlayer popular? It really has some skills:

1. Played a 'sneaky move': It was the first to actually implement BitVM! Before, everyone just thought the concept of BitVM was impressive, but no one could pull it off. Bitlayer has really created an L2 that can run smart contracts (and is compatible with Ethereum's EVM), crucially holding tightly to the security of the Bitcoin mainnet. Just this point alone is enough for it to boast for a while. #Bitlayerv

2. The bridge is well understood: It created a dual bridge. Want fast small transactions? Use the BitVM bridge, and it zooms right over. Need stability for large amounts? Use its OP-DLC bridge, although it relies on oracles (some people have doubts about this), but theoretically, it's more reliable than purely trust-based multi-signature escrow bridges. It finds a balance between 'speed' and 'stability.'

3. Real money is flowing in: TVL has reached 1.2 billion dollars! Over 300 projects are crowding around it to do their thing, with DeFi, NFTs, and even (crossed out) innovative projects. Data doesn't lie; at least for now, it is the most bustling place in the Bitcoin L2 space, and you can't argue against that.

4. The background is quite solid: Not only did it get money from major institutions involved in Bitcoin ETFs in traditional finance, but even the founding team of BRC20 has invested in it. The development team is no bunch of rookies; they are veterans from places like Huobi and Polkadot, knowing how to make things happen.

So how do people in the circle see it?

It is generally believed to have enormous potential and is definitely one of the 'top seed players' in the expansion of the Bitcoin ecosystem. The technical ideas are cutting-edge, the money and resources are in place, and the ecosystem is gaining momentum. If it can successfully implement the promised technical upgrades (especially the completely decentralized V3) and resolve pain points like the liquidity pool and oracles, it might really sit firmly on the 'Iron Throne' of the Bitcoin smart contract ecosystem!