Bitlayer is a pioneering Layer 2 (L2) solution built atop Bitcoin, leveraging the BitVM protocol to introduce trust-minimized smart contracts and scalable decentralized applications (dApps) to the Bitcoin ecosystem. Founded in 2023 by Kevin He and Charlie Hu, Bitlayer aims to unlock Bitcoin's potential for decentralized finance (DeFi) and beyond.
🚀 Mainnet V1 Launch & Ecosystem Growth
In April 2024, Bitlayer launched its Mainnet V1, combining Proof-of-Stake (PoS) and multi-signature mechanisms to support EVM compatibility and cross-chain functionality. Since then, the network has achieved significant milestones:
Total Value Locked (TVL): Over $850 million.
dApp Deployments: More than 280 decentralized applications across sectors like DeFi, gaming, lending, and staking.
Community Engagement: A growing community of over 700,000 members, with active participation in campaigns such as Lucky Helmet and BTCFi Carnival.
🔧 Technology & Infrastructure
Bitlayer's architecture is designed for scalability and security:
BitVM Protocol: Enables trust-minimized smart contracts on Bitcoin without requiring protocol changes.
BitVM Bridge: A cross-chain bridge that facilitates secure and efficient transfers of Bitcoin into the Bitlayer ecosystem, supporting applications like YBTC tokens and decentralized exchanges.
Upcoming V2 Upgrade: Plans to introduce a native rollup architecture, offering higher throughput and reduced transaction costs while maintaining Bitcoin-level security
