The enthusiasm of inscription has given birth to the BTC L2 narrative. What other projects have yet to be discovered in terms of value?

The fervor for writing has spurred the rise of the BTC L2 narrative. What other undervalued projects are waiting to be unearthed?

This article will delve into the Bitcoin L2 ecosystem and provide insights into two less commonly mentioned projects: Tectum and BEVM.

With the increasing FOMO sentiment surrounding Bitcoin and its scalability issues such as high transaction fees and slow settlement speed, the crypto world feels like a never-ending cycle of performance discussions and various scalability solutions.

Increasing block space, sidechains, and lightning network solutions have emerged and maintained a lukewarm presence.

But now, with the rise of the demand for scalable Bitcoin transactions, the market has once again awakened the desire for Bitcoin to expand. Related solutions are becoming the focal point of the narrative.

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Among them, BTC-based Layer 2 (L2) solutions are gaining prominence.

The most noticeable trend is the rapid influx of funds. Some Bitcoin L2 projects that previously lacked attention are now benefiting from this surge. For instance, veteran Bitcoin L2 projects like STX and Rif saw price increases of 93.6% and 38.7%, respectively, in the past week.

Many Bitcoin L2 projects in most exchanges have been discovered by the market, but are there any earlier alpha projects worth paying attention to?

This article will dig deep into the Bitcoin L2 ecosystem and provide insights into two relatively lesser-known projects: Tectum and BEVM.

1. Tectum: A separate bill transfer system outside of BTC

Tectum Softnote is a BTC layer 2 scaling solution that offers instant and free cryptocurrency transfers anywhere in the world.

So how does Tectum achieve these features?

Before understanding Tectum Softnote, it’s important to comprehend Tectum as a whole.

Tectum is a complete distributed ledger protocol, consisting of Tectum Blockchain, Tectum Wallet, Tectum Token (TET), Tectum SoftNote, and the 3FA identity verification application.

Tectum Blockchain adopts a proprietary hash-driven consensus algorithm called HashDrive. This algorithm enables over 1 million transactions per second and provides instantaneous event state transfer and ownership updates across blockchain networks, as well as distributed access levels to function system modules.

In simple terms, this algorithm achieves fast transaction speed, and the blockchain uses a layered structure, storing raw data in lower layers to achieve a balance of high security and high speed.

This structure makes Tectum a network overlay solution for blockchains like Bitcoin, avoiding congestion and high costs of the native network. Based on this technology, Softnote was born.

Softnote is a new tool based on the Tectum blockchain that allows for fast transactions without any fees. Let’s understand how it works through the Softnote tutorial:

1. Create Softnote Wallet – Tectum uses a Bitcoin node to generate the wallet.
2. Mint SoftNote Bills – Minter (Mt) spends TET to mint SoftNote bills, each with a unique serial number. Currently, SoftNote can only be minted on the Tectum Softnote platform.

[Image: Bitcoin](https://blockchain.miximages.com/images.bitpush.news/cn/20231206/170182975057767042.jpg)

3. Liquidity Injection – Liquidity Providers (LP) transfer BTC/Crypto to their BTC/Crypto wallet to fill the SoftNote bills they want.
4. Issue into Circulation – Liquidity Providers sell their SoftNote bills to end users at different face values.
5. Generate Revenue – End users use the bills for purchases, and if used in transactions, the recipient pays a maximum fee of 1%.

Peer-to-peer transfers can be done via email and are not recorded on the Bitcoin blockchain. Therefore, SoftNote enables completely private, fee-free, and instant transactions.

[Image: Bitcoin](https://blockchain.miximages.com/images.bitpush.news/cn/20231206/170182975113441534.jpg)

Essentially, Tectum SoftNote creates its own “bill credentials” outside of the BTC network, allowing users to transfer and trade using these bill credentials.

Tectum’s Token Economy:
Tectum (TET) tokens are the native tokens of this project. As mentioned earlier, they have a role in minting Softnote and also offer benefits such as reducing transaction fees for merchants receiving the bills and access to other Tectum products.

The total supply of TET tokens is fixed at 10 million, with 15% allocated for private sales, 20% for staking and nodes, 10% for liquidity provision, and 10% for marketing.

[Image: Bitcoin](https://blockchain.miximages.com/images.bitpush.news/cn/20231206/170182975180268634.jpg)

2. BEVM: Bitcoin’s EVM-Compatible L2

[Image: Bitcoin](https://blockchain.miximages.com/images.bitpush.news/cn/20231206/170182975164073742.jpg)

BEVM is the first fully decentralized EVM-compatible Bitcoin L2. It supports wallets like Metamask, development frameworks like Truffle/Hardhat, and Solidity programming language.

Meanwhile, BEVM uses BTC as GAS, and applications on Layer2 will use BTC as Gas; most importantly, BEVM is fully compatible with EVM, allowing DeFi, GameFi, and other applications that can run on the EVM ecosystem to seamlessly migrate to the Bitcoin Layer2. In the future, BEVM will also be compatible with more non-EVM Layer1 networks, expanding BTC and BTC-based assets to any chain and maximizing the expansion of the Bitcoin ecosystem.

Currently, the BEVM ecosystem includes:

1. BEVM BLOCKCHAIN EXPLORER: BEVM’s official browser for browsing on-chain data.

2. BSWAP: A BTC-EVM DEX based on BEVM. It allows users to exchange BRC20 and ERC20 tokens.

3. BITBOX: A professional and comprehensive Ordinals inscription service platform.

BEVM has not yet launched a token, but the official has hinted at future airdrop activities.

Therefore, trying the methods below may increase your chances of receiving an airdrop:

1. Interact with BSWAP: As mentioned earlier, BSWAP is a DEX built on the BEVM network, where users can trade tokens and participate in LP.

Currently, BSWAP has various asset pools paired with BTC, mostly inscription assets such as Ordi and Sats.

2. Complete various tasks posted by Zealy, such as following their social media accounts, joining the community, and going to the official Discord to obtain new roles.

3. Purchase the official whitepaper NFT inscription. Currently, BEVM’s whitepaper has been turned into NFT inscriptions on the BTC network, with a total of 10,000. Buying these inscriptions may increase your chances of receiving an airdrop.

In summary, BEVM brings BTC directly into the mature EVM ecosystem in a decentralized manner, making it easier to expand the Bitcoin ecosystem. On the other hand, Tectum solves the problem of expensive BTC transaction fees through a different ticket system.

Although these designs may not seem “conventional,” they bring developers and users a new experience and allow EVM developers or users who are unfamiliar with BTC to seamlessly enter the BTC ecosystem.

How to choose between “authenticity” and “user experience”, the market will ultimately give the answer.

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