Bitlayer, a Leading Bitcoin L2, Nets $5M In Funding, Unveils $50M 'Ready Player One' Program

Bitlayer is the first Bitcoin Layer 2 network based on BitVM, offering Bitcoin-equivalent security and Turing completeness.

SINGAPORE, Singapore, April 3rd, 2024/Chainwire/-- Bitlayer Labs, the first Bitcoin Layer 2 solution based on BitVM, announced a seed round of $5M led by Framework Ventures and ABCDE Capital, participation by StarkWare, OKX Ventures, Alliance DAO, UTXO Management, Asymmetric Capital and many more. The announcement comes as Bitlayer prepares the launch of its open-incentive program Ready Player One, inviting developers worldwide to augment, enhance, and build on the protocol.

” Qiao Wang, co-founder of Alliance DAO, emphasized the future of Bitlayer and Bitcoin L2s in the emerging era: “I spent the vast majority of my intellectual, social, and financial capital in the Ethereum ecosystem in the last decade, but deep down I've always been a Bitcoiner. The possibility to enhance Bitcoin's expressiveness and scalability via L2s such as Bitlayer is the most exciting moment in the history of Bitcoin.

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