Bitlayer Raises $11 Million to Enhance Bitcoin Layer-2 Solutions with Franklin Templeton's Support

Tuesday, 23 July 2024, 12:00
Bitlayer has successfully raised $11 million in funding, spearheaded by ETF issuer Franklin Templeton. This investment aims to further develop Bitlayer's layer-2 technology, rooted in the BitVM paradigm introduced last October. This innovative approach paves the way for Ethereum-style smart contracts on the original Bitcoin blockchain, potentially transforming its capabilities and expanding its utility in the digital asset space. In conclusion, Bitlayer's advancements could significantly impact Bitcoin's ecosystem and boost interest from institutional investors.
CoinDesk
Bitlayer Raises $11 Million to Enhance Bitcoin Layer-2 Solutions with Franklin Templeton's Support

Bitlayer's Recent Funding Round

Bitlayer has announced that it has raised $11 million in funding, with the investment led by Franklin Templeton, a renowned ETF issuer.

About Bitlayer and Its Technology

This funding will enable Bitlayer to develop its layer-2 technology based on the BitVM paradigm.

  • The BitVM concept was unveiled last October.
  • It aims to implement Ethereum-style smart contracts on the Bitcoin blockchain.

Conclusion

Through this investment and technological innovation, Bitlayer is positioned to enhance Bitcoin's functionality and open doors for institutional interest in Bitcoin projects.

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.

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