Bitcoin smart contract: Bitlayer revolutionizes interoperability
The post Bitcoin smart contract: Bitlayer revolutionizes interoperability appeared on BitcoinEthereumNews.com. Bitcoin smart contract bridge by Bitlayer debuts on the mainnet with the ambition to radically transform blockchain interoperability. Combining advanced security and cross-chain compatibility, this innovation promises to renew decentralized finance (DeFi) linked to the most widespread digital asset. Launch of Bitlayer: a new era for Bitcoin in DeFi Bitlayer, a DeFi infrastructure startup supported by Franklin Templeton, has taken a significant step by launching its own smart contract bridge on the mainnet. Bitlayer was founded with a clear mission: to increase the interoperability of Bitcoin across different blockchain networks, overcoming historical limitations imposed by the less programmable nature of the Bitcoin network. The bridge solution, called BitVM, addresses a crucial challenge in the world of digital assets: the need to connect native Bitcoin liquidity to ecosystems that support smart contracts and more advanced decentralized financial applications. According to statements from Bitlayer spokespersons, all of this happens without compromising security or making changes to the base layer of Bitcoin, thus respecting the integrity of its original blockchain. The technological core of the initiative, BitVM, is configured as a “trust-minimized” bridge and introduces an innovative paradigm compared to traditional models. Users can deposit Bitcoin within a smart contract, where the funds are immediately placed in an escrow system. From here, Bitcoin is converted into a tokenized form called Peg-BTC (YBTC). Peg-BTC offers extensive programmability, making funds easily transferable and available for interactions on networks external to Bitcoin, particularly those that already support sophisticated smart contracts. This allows potential developers and investors to experiment with new digital finance models, leveraging the power and recognizability of Bitcoin along with the flexibility inherent in modern networks. A strength of Bitlayer lies in its ability to facilitate cross-chain compatibility. The startup has initiated strategic collaborations to integrate BitVM with platforms like Sui, Base, and Arbitrum.…
The post Bitcoin smart contract: Bitlayer revolutionizes interoperability appeared on BitcoinEthereumNews.com.
Bitcoin smart contract bridge by Bitlayer debuts on the mainnet with the ambition to radically transform blockchain interoperability. Combining advanced security and cross-chain compatibility, this innovation promises to renew decentralized finance (DeFi) linked to the most widespread digital asset. Launch of Bitlayer: a new era for Bitcoin in DeFi Bitlayer, a DeFi infrastructure startup supported by Franklin Templeton, has taken a significant step by launching its own smart contract bridge on the mainnet. Bitlayer was founded with a clear mission: to increase the interoperability of Bitcoin across different blockchain networks, overcoming historical limitations imposed by the less programmable nature of the Bitcoin network. The bridge solution, called BitVM, addresses a crucial challenge in the world of digital assets: the need to connect native Bitcoin liquidity to ecosystems that support smart contracts and more advanced decentralized financial applications. According to statements from Bitlayer spokespersons, all of this happens without compromising security or making changes to the base layer of Bitcoin, thus respecting the integrity of its original blockchain. The technological core of the initiative, BitVM, is configured as a “trust-minimized” bridge and introduces an innovative paradigm compared to traditional models. Users can deposit Bitcoin within a smart contract, where the funds are immediately placed in an escrow system. From here, Bitcoin is converted into a tokenized form called Peg-BTC (YBTC). Peg-BTC offers extensive programmability, making funds easily transferable and available for interactions on networks external to Bitcoin, particularly those that already support sophisticated smart contracts. This allows potential developers and investors to experiment with new digital finance models, leveraging the power and recognizability of Bitcoin along with the flexibility inherent in modern networks. A strength of Bitlayer lies in its ability to facilitate cross-chain compatibility. The startup has initiated strategic collaborations to integrate BitVM with platforms like Sui, Base, and Arbitrum.…
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