BEVM Predicts 10% of Bitcoin Supply Transition to Layer 2

IconCryptoNewsTerminal Staff24 May, 2024

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BEVM Predicts 10% of Bitcoin Supply Transition to Layer 2

BEVM, a leading Bitcoin Layer 2 project, has forecasted that approximately 10% of the total Bitcoin supply will migrate to Layer 2 solutions once market conditions stabilize. Built upon Bitcoin's 2017 SegWit upgrade and the 2021 Taproot upgrade, BEVM is a Layer 2 network utilizing Schnorr's signature algorithm to enable decentralized Bitcoin multi-signatures. This prediction is significant as it highlights the growing adoption and recognition of Layer 2 solutions within the Bitcoin ecosystem. Layer 2 networks, like BEVM, offer increased transaction capacity, enhanced privacy, and reduced fees, addressing some of the scalability limitations of the Bitcoin blockchain. In April, BEVM secured investment from Bitmain, a prominent cryptocurrency mining hardware manufacturer. Furthermore, BEVM launched its mainnet in March and collaborated with Binance for a Web3 wallet and airdrop event, further solidifying its position within the Bitcoin community.

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