#BITLAYERChallenge
Bitlayer$ is a layer 2 scaling solution for Bitcoin. Its main function is to transform Bitcoin into a platform capable of supporting smart contracts and decentralized applications (dApps), something that its main network cannot do efficiently.
Built on the concept of Bitcoin Virtual Machine (BitVM), Bitlayer is compatible with the Ethereum Virtual Machine (EVM), making it easier for developers to create and migrate dApps. This allows Bitcoin to host an ecosystem of Decentralized Finance (DeFi) and NFTs while inheriting the security and robustness of the main network, enhancing speed and reducing transaction costs.
