(MENAFN- TimesNewswire ) The introduction of the Ordinals protocol and BRC-20 has paved the way for new possibilities within the Bitcoin network, attracting builders eager to explore BTC's vast potential and foster a dynamic ecosystem. However, the surge in enthusiasm for inscription and BRC-20 token minting has placed immense pressure on BTC Layer1, leading to network congestion and rising transaction fees. These challenges highlight significant market opportunities for Layer-2 solutions.
Ordinals and BRC-20 have underscored a crucial insight: 'Building various application scenarios on Bitcoin, not just speed,' is essential for Bitcoin Layer2 development.
BL2 represents a groundbreaking BTC Layer2 solution that integrates ZK-Rollup and zkEVM into Bitcoin Layer2's construction approach, based on the modular Celestia DA blockchain solution. This pivotal shift holds significant importance as BL2 introduces a Layer2 that offers lower costs and higher task processing efficiency for dApps and various BTC protocol assets. Importantly, BL2 retains the security and decentralization features inherent to the Bitcoin network.
Furthermore, BL2 aims to establish an EVM-compatible ecosystem within the BTC Layer2 network. This initiative allows developers to seamlessly migrate existing Ethereum dApps to the BTC ecosystem. The liquidity of EVM ecosystem assets can interact more extensively with BTC, fostering increased synergy and interaction.
Core Modules of BL2 Under Development:
1 Decentralized BTC Layer2
1)- BL2 introduces smart contract capabilities to the Bitcoin network based on a highly compatible EVM general This breakthrough allows BTC to surpass the constraints of being non-Turing complete and lacking smart contract support in its blockchain, enabling the construction of decentralized applications on Layer2.
2)Establishment of an EVM-compatible ecosystem on BTC Layer2, encompassing wallets, development frameworks (such as Truffle/Hardhat), and the Solidity programming language.
3)BTC L2 dPoS Nodes:
– Utilizing Bitcoin Taproot, BL2 ensures the decentralization of the Layer 2 solution. Through on-chain POS nodes, it guarantees the decentralization of threshold signature validators, enhancing the overall network's security.
4)EVM Cross-Chain Bridge:- Implementation of an EVM cross-chain bridge that supports ERC20 token standards and enables the interaction between assets from other EVM-compatible blockchain networks and Bitcoin's multi-protocol assets. This functionality allows for seamless cross-chain transactions and protocol interactions.
2 DA Data Storage Verification:
– BL2 is the first BTC Layer2 based on Celestia DA data storage verification, allowing BTC L2 to focus on functional execution and modular technology facilitates collaboration, enhancing efficiency and stability, ultimately improving on-chain activity cost stability.
3 of BTC Multi-Protocol Assets:
Aggregates BTC and BTC ecosystem-derived assets, supporting brc20, rune, arc20, Lightning Network, etc., providing fast and low-cost transaction experiences. Optimizes the packing and verification process, reducing reliance on Layer-1, addressing the issue of slow confirmations and high fees on the Bitcoin mainnet during high-frequency transactions.
4 Account Abstraction:
Enables developers to set transaction validity conditions, offering users greater flexibility and customizable functionality. Enhances functionality and user experience optimization within existing BTC wallets.
5 API:
Allows reliable low-simulation and execution of user operations on-chain, streamlining complex processes and significantly improving user experience.
6 Extension Community Based on $BL2T
Our goal is to establish an open community focused on the decentralization and scalability of Bitcoin, with $BL2 serving as a medium for value consensus. This will enable more individuals to participate in the development of the Bitcoin ecosystem.
【 Tokenomics】
Token: $BL2T (BRC-20), total supply:21,000,000.
Scenarios: BTC network L2 token with 20% gas burning.
Distribution:
– 35%: IDO – Fair launch for early participants.
– 5%: SWAP Liquidity Enhancement – Establish BTC Layer 2 SWAP trading after the mainnet launch, creating an initial liquidity pool for $BL2T.
– 5%: User Trading Incentives – Users participating in the mainnet SWAP will share a portion of this allocation based on their trading volume (incentivizing platform-wide buying behavior for all trading pairs).
– 5%: Marketing Expenses – Used for KOL collaborations, advertising, reward programs, and other marketing activities.
– 5%: Core Team – Used for team expansion, unlocked after 3 months, released linearly over 12 months.
– 5%: Ecosystem Incentives – Reserved for rewarding projects that establish applications in the BL2 Layer 2 ecosystem, enriching the BL2 ecosystem landscape.
– 20%: Node Rewards – Based on the BTC Layer 2 product consensus mechanism DPOS, validator nodes stake and earn rewards.
– 20%: OG Mining Plan – Users participating in SWAP transactions on the BTC Layer 2 network will be eligible for the OG plan based on their transaction levels. Higher-level users in the OG plan can earn higher APR mining rewards by burning $BL2T.
【Road M ap】
Jan 2024
– Establish Tokenomics.
– Fair Launch.
Q1 2024
– Testnet Launch.
– Launch of Testnet Ecosystem Incentive Program.
Q2 2024
– Mainnet Launch, Genesis Block Output.
– Launch of Developer Platform.
– Ecosystem Incentive Program 2.0 Launch.
Q2-Q3 2024
– Listing on Major Global Trading Platforms.
We eagerly anticipate welcoming more individuals to join us in exploring new possibilities for the Bitcoin ecosystem.
Media Contact
Company Name: BL2 foundation
Contact Person: Krystie
Email: ...
Website:
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