Layer 2 and the Evolution of Bitcoin
The Bitcoin community has developed various Layer 2 blockchains that enhance the efficiency and functionality of the network without changing the core software.
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The Bitcoin community has developed various Layer 2 blockchains that enhance the efficiency and functionality of the network without changing the core software.
CLabs first stated its intention to migrate to Layer-2 in July 2023.
Cody Poh believes that there is a theoretical "glass ceiling" in Layer 2 valuation. Ethereum L1 ensures the security of L2 activities through its consensus mechanism, thus theoretically limiting the value of L2 to not exceed L1.
Mercury Layer implements off-chain transfer and settlement of Bitcoin UTXO through statechains
Can Metis stand out among the many Layer 2 projects by taking advantage of other Rollups’ lack of centralized orderers and its own powerful economic model?
Bitcoin assets are the first engine of this bull market, and I think its prospects will revolve around the following architecture: Bitcoin issuance + cross-chain interoperability + smart contract DeFi on the execution chain.
Layer 2 is no longer just Layer 2 of Ethereum.
In my opinion, parallel EVM is just a highly "modular" manifestation of Rollup. After DA was invaded by a third party, the VM execution layer fell again, and layer 2 will be redefined in the future.
Most signs point to a "Layer 2 Summer" becoming a reality, which will benefit Ethereum and smart contracts in general.
Two days ago, I had the audacity to say "Layer 2 will save Ethereum".