Inventory of BTC Layer2: Stacks, Rif, MintLayer…

BTC Layer2 inventory: Stacks, Rif, MintLayer...

The development of BRC20 and Ordinals is exciting, but their technical limitations hinder further development. This is where BTC Layer2 comes in. Cryptocurrency KOL Richie introduced relevant BTC Layer2 projects.

1) Stacks is linked to the Bitcoin blockchain through the consensus mechanism Proof of Transfer, which spans two chains. The native token STX, according to the roadmap, will release sBTC token in Q4-2023, building around the DeFi ecosystem. Its main purpose is to implement smart contracts in the Bitcoin network; releasing Bitcoin liquidity through DeFi, Nft, and implementing native ENS.

2) Rif is a service layer built on the Rootstock blockchain and protected by Bitcoin, providing open, decentralized tools and technologies. There is already a large DeFi ecosystem and EVM compatibility. It is supported by Binance.

3) MintLayer is a future-oriented blockchain that enhances token interoperability and can create trade value, create systems and functions, and participate in trustless finance.

• Analysis of Lybra Finance v2: Creating eUSD Use Cases, Attracting TVL, and Optimizing Tokenomics
• Onion routing in the Lightning Network and how it works
• How to Participate in the zkSync Era Exploration Campaign?

4) BotanixProtocol is a Layer 2 that is identical to Ethereum, built on top of Bitcoin, combining the market value of BTC and the dApps ecosystem of ETH.

5) LayerTwoLabs uses *Drivechain to make every transaction a Bitcoin transaction. *Drivechain is a soft fork upgrade of Bitcoin that enables new functionalities and promotes “built on Bitcoin”.

Reference: https://twitter.com/twindoges/status/1661046044128604160

We will continue to update Blocking; if you have any questions or suggestions, please contact us!