Bitlayer Labs Raises $11M to Enhance Bitcoin Scalability and Security

B. Ali
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Bitlayer Labs, the team behind a Bitcoin layer two (L2) solution using the BitVM technology, has raised $11 million in a Series A funding round led by Franklin Templeton and ABCDE.

This brings Bitlayer’s total funding to $16 million and values the company at $300 million. Their goal is to make Bitcoin more scalable and functional without changing its core network.

The new funds will help expand their project, including launching Mainnet-V2. This update will bring a new Bitcoin-native rollup that uses both zero-knowledge and fraud proofs, which will enhance Bitcoin’s scalability and security.

Therefore, the $11 million funding for Bitlayer Labs is expected to positively impact the Bitcoin and crypto market by enhancing scalability and security.

The launch of Mainnet-V2 and the development of native Web3 protocols will further expand Bitcoin’s functionality, potentially boosting overall market confidence and adoption.

Bitlayer Labs Secures $11 Million Funding, Boosting Bitcoin Scalability and Security

Bitlayer Labs has raised $11 million from major investors like Stake Capital Group, WAGMI Ventures, GSR Ventures, and Flow Traders, with Franklin Templeton’s backing highlighting strong financial support.

This funding will help Bitlayer make Bitcoin more scalable and secure without altering its core network. They plan to create new Web3 protocols and launch Mainnet-V2 to improve Bitcoin’s efficiency and functionality.

Support from these big investors increases confidence in Bitlayer’s technology and its potential to impact the Bitcoin and cryptocurrency markets positively.

Bitlayer Labs Investment Boosts Confidence in Secure and Scalable Bitcoin Layer 2 Solutions Co-founder Charlie Hu said that the investment confirms Bitlayer’s commitment to building a secure and scalable Layer 2 solution for Bitcoin.

He explained that their main goals are to ensure Bitcoin transactions are final and secure, create a Layer 2 solution with security similar to Bitcoin itself, and make a significant impact in the Bitcoin space.

In other words, Bitlayer aims to improve Bitcoin’s performance and security while making a major contribution to its development. Therefore, the investment in Bitlayer Labs highlights strong confidence in its mission to enhance Bitcoin’s security and scalability.

It signals potential improvements in Bitcoin’s performance, boosting investor and market confidence in the future of Bitcoin Layer 2 solutions.

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Live webinar speaker and derivatives (Forex, Crypto, and Indices) analyst with a broad range of skills for evaluating financial data, investment trends, technical analysis, fundamental analysis, and the best ways to strategies investment selection.  Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.