OKX Ventures, the funding division of the crypto change
and Web3 expertise firm OKX, has introduced its funding in Bitlayer.
Bitlayer is acknowledged as the primary Bitcoin security-equivalent Layer 2
resolution primarily based on BitVM.
Introducing Options for Bitcoin’s Community Effectivity
Bitlayer’s major purpose is to boost the transaction
capability of the Bitcoin community. It helps using Taproot and BitVM
applied sciences and has built-in the Discreet Log Contract framework to handle
safer conditional monetary purposes.
Bitcoin has maintained a major presence within the crypto
market over the previous 15 years, accounting for 53.4% of the entire market share
of greater than $2.28 trillion in crypto belongings. Compared, Ethereum holds
15.8% of the market share, with its Complete Worth Locked surpassing $90 billion
and its Layer 2 options reaching $39 billion.
The event of protocols resembling Ordinals, Runes, and
BRC-20 has proven notable momentum, with Runes and Ordinals reaching a mixed
market cap of over $700 million and producing roughly $418 million in
whole charges. Moreover, the Bitcoin community has over 11.39 million energetic
customers.
Bitlayer, as the primary Bitcoin Layer 2 resolution using
the BitVM paradigm, goals to unravel the stability between safety and Turing
completeness in BTC Layer 2 via developments in cryptographic and
blockchain protocols.
This text was written by Tareq Sikder at www.financemagnates.com.
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