Bitlayer is a Bitcoin Layer 2 scaling solution. Its primary goal is to enhance the Bitcoin network's scalability, speed, and efficiency without compromising its core principles of security and decentralization.

Key Points

* Layer 2 Solution: Bitlayer operates "on top" of the main Bitcoin network (Layer 1). By processing transactions off-chain, it significantly increases transaction throughput and reduces congestion on the main blockchain.

* Scalability: It is designed to handle a high volume of transactions, making Bitcoin more suitable for daily financial activities and widespread adoption.

* Security: A key feature is its ability to inherit the security of the Bitcoin network. It utilizes technologies like BitVM (Bitcoin Virtual Machine) and Zero-Knowledge (ZK) Proofs to ensure a secure and trustless environment.

* Smart Contracts: Unlike the native Bitcoin network, Bitlayer supports the deployment of complex smart contracts. This allows for the development of decentralized applications (dApps) and various use cases, including decentralized finance (DeFi) platforms, lending protocols, and cross-chain transactions on the Bitcoin network.