Bitcoin Layer2

OKX Ventures announces a strategic investment in Bitlayer, the first Bitcoin Layer2 network based on the BitVM paradigm

ChainCatcher news, OKX Ventures announced the completion of a strategic investment in Bitlayer. Bitlayer will establish the first Bitcoin security-equivalent and Turing-complete Bitcoin Layer 2 based on the BitVM paradigm, aiming to become the computing layer for Bitcoin. At the end of April, Bitlayer launched a $50 million developer incentive program called Ready Player One, attracting over 500 project teams from various sectors including infrastructure, DeFi, inscriptions, SocialFi, and cross-chain bridges.Dora Yue, founder of OKX Ventures, stated: "The native design of Bitcoin ensures a decentralized, trustless, and highly secure peer-to-peer trading system. OKX Ventures has early investments in Bitcoin's infrastructure, such as Rollup, Stacks scaling solutions, and innovations in Bitcoin DeFi. Bitlayer positions itself as the Bitcoin computing layer, characterized by its framework design that uses BitVM for off-chain computation and on-chain verification, combined with DLC (Discreet Log Contract) to achieve a trustless bi-directional cross-chain bridge. Bitlayer inherits the high security advantages of the Bitcoin network and is also compatible with multiple virtual machine environments, including EVM (Ethereum Virtual Machine). The Bitlayer mainnet V1 version was launched in April, supporting bi-directional cross-chain for EVM-compatible environments and mainstream assets. We look forward to enhancing the use cases of the Bitcoin network in Q3 of this year, focusing on product security and innovations in the diversity of digital assets such as NFTs, while ensuring user privacy."

LK Venture announces investment in Bitcoin Layer2 scaling solution Merlin Chain

ChainCatcher news, Hong Kong listed company Blueport Interactive (8267.HK) affiliated crypto investment and research institution LK Venture announced that it has invested in the Bitcoin Layer2 scaling solution Merlin Chain through the Bitcoin network ecological investment management fund BTC NEXT.Merlin Chain is a Bitcoin Layer2 that integrates ZK-Rollup network, decentralized oracle network, and on-chain BTC anti-fraud module, dedicated to empowering native assets, protocols, and products on Bitcoin Layer1 through Layer2 network, making Bitcoin interesting again. Bitmap Tech is the parent company of Merlin Chain, with a total market value of over 500 million USD, and its BRC-420 "Blue Box" series has become one of the hottest assets on Ordinals.LK Venture founding partner Leo Deng stated that through the differentiated strategy of "first having the ecosystem, then having Layer2," Merlin Chain will bring the Bitcoin Layer1 assets represented by the Blue Box and the strong user community consensus of Bitmap holders into Bitcoin Layer2, endowing it with rich asset reserves and user base. We appreciate the efforts made by the team behind Merlin Chain, Bitmap Tech, in focusing on the Bitcoin ecosystem over the years, and look forward to the technological upgrades of Merlin Chain and the further expansion of its DApp ecosystem.
ChainCatcher Building the Web3 world with innovators