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Bitlayer announces mainnet launch of Bitcoin cross-chain bridge BitVM
Summary: Bitlayer, a Bitcoin DeFi infrastructure backed by traditional asset management giant Franklin Templeton, has announced the mainnet launch of the smart contract cross-chain bridge BitVM. This solution allows users to lock Bitcoin into smart contracts, converting it into wrapped asset Peg-BTC (YBTC) for cross-chain interaction, with integrations already achieved with networks like Sui, Base, and ...
Bitlayer, a Bitcoin DeFi infrastructure backed by traditional asset management giant Franklin Templeton, has announced the mainnet launch of the smart contract cross-chain bridge BitVM. This solution allows users to lock Bitcoin into smart contracts, converting it into wrapped asset Peg-BTC (YBTC) for cross-chain interaction, with integrations already achieved with networks like Sui, Base, and Arbitrum. Bitlayer stated that the bridging solution utilizes a single-signature verification mechanism to optimize security, aiming to bring native BTC liquidity into the smart contract ecosystem without altering the underlying Bitcoin protocol.
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