Bitmain's Investment Boosts Bitcoin Layer2 BEVM Project
Tuesday, 30 April 2024, 07:56
Bitcoin Layer2 BEVM Announces Investment from Bitmain
BTC Layer2 project BEVM has officially disclosed an investment from Bitmain, the leading manufacturer of cryptocurrency mining servers globally. The precise amount of the investment remains undisclosed.
Established in 2013
Bitmain still stands today as a significant figure in the digital asset mining hardware production space. Its Bitcoin mining machines previously commanded over 70% of the global market share.
Gavin Guo's Plans
- Gavin Guo, Core Builder of BEVM Foundation, shared that BEVM will focus on exploring Bitcoin hashrate and PoW ecosystem's applications on BEVM for facilitating substantial BTC migration.
This initiative is set to empower Bitmain assets and unlock liquidity in the BTC Layer2 network for diverse financial applications.
Key Features of BEVM
- Being EVM-compatible, BEVM leverages Bitcoin technologies and achieves fully decentralized BTC cross-chain functionality.
- It enables trustless BTC integration into various applications and enhances genuine Bitcoin liquidity circulation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.