According to official news, Bitcoin native execution layer QEO Protocol, StarkWare, zk.Link, Mina Foundation and o1Labs announced the establishment of the L2O Alliance, which is committed to bringing native security, Internet scale and interoperability to Bitcoin chain applications and Layer 2 solutions.
It is reported that the L2O Alliance aims to set standards for high-trust applications and Bitcoin Layer 2. Using Bitcoin's liquidity and security and zero-knowledge proof, developers will be able to build Layer 2 applications with more network effects.
The L2O standard covers privacy, scalability, composability and compatibility with Bitcoin. In addition, the alliance is developing tools and resources for deploying Layer 2, and by coordinating standards between solutions, it will implement smart contract-like functions on the Bitcoin chain to ensure permissionless interoperability between applications.