Bitlayer's 2024 Surge: Reshaping the Competitive Landscape of Bitcoin L2s

Bitlayer's 2024 Surge: Reshaping the Competitive Landscape of Bitcoin L2s

In 2024, Bitlayer set new benchmarks for Bitcoin L2s.

Bitlayer’s remarkable expansion serves as a compelling demonstration of the transformative potential of a Bitcoin-centric ecosystem. During the year, the Bitlayer blockchain made significant strides in enhancing its ecosystem’s reach and influence.

This is evidenced by an exciting Total Value Locked(TVL) surpassing $725M, the facilitation of over 200 Dapps, total transactions reaching over 24 million, and featured coverage from prominent tech media and crypto-focused outlets, reflecting a substantial commitment to the network’s security and growth.

Two weeks ago, one of our flagship products successfully moved into pre-user testnet phases, a product that has been in the works since Bitlayer Mainnet-V1 launched in April (More information on this soon). With this final accomplishment under our belts just as we wrap up the year, it’s worth taking a minute to review what we’ve done in 2024, and share the path we see forward.

Bitlayer’s Record-Breaking 2024

Bitlayer is an EVM-compatible Bitcoin project that is live today as a sidechain, and is soon undergoing an upgrade to become a rollup based on the BitVM paradigm. As the research deliverables of the team over the previous period, Bitlyer Mainnet-V2, a Bitcoin-native rollup in which state transitions are protected by OpVM technique, is entering its launch phase.

2024 is set to be a pivotal year for Bitlayer. Its explosive growth doesn’t come without explanation as we oversaw a slew of technical innovations and operation events brought to the Bitlayer ecosystem during the year.

Bitlayer’s Growth: Crafting Impressive Achievements From Scratch

The Bitlayer blockchain ecosystem is buzzing with anticipation as the following metrics and comparisons to the beginning of the year show Bitlayer increasing user engagement.

The Bitlayer community and its members are the core of Bitlayer’s global, decentralised networks. There are currently six language channels, including India, Nigeria, and Vietnam, on Bitlayer’s discord server. There are also a growing number of community-led groups in different languages and for different regional communities on Telegram and Twitter.

200+ Dapps Now Live on Bitlayer Blockchain

Throughout the year, Bitlayer’s ecosystem expansion has been another huge driver. It has already onboarded more than 200 Dapps spanning DeFi, Infra, Social, NFT sectors and beyond, including launches like DeSyn Protocol, Macaron, Meson and RollDex, just to name a few.

Bitlayer aims to provide developers and users with a native Bitcoin Layer 2 environment through its innovative technologies such as OpVM, Finality Bridge, and RtEVM. It has continued to expand, adding leading projects built both exclusively on Bitlayer and those who have migrated from other blockchains to focus on their expansion within the Bitlayer blockchain.

Strategic Collaborations and Integrations Driving Bitlayer’s Global Adoptions

One of the biggest wins for the Bitlayer team was the successful completion of three rounds of financing this year. It further solidifies Bitlayer’s position at the helm of the Bitcoin L2 field, bringing Bitlayer’s total funding raised to $25 million.

These notable investors’ involvement highlights the growing interest and momentum behind Bitlayer’s innovative solutions for technical challenges within the Bitcoin ecosystem, indicating a larger trend of institutional recognition and support for blockchain technologies.

Exciting things are happening! Bitlayer integrations, like Chainlink, Dextools, Nansen, LayerZero, Binance Wallet, Xverse, OKX Web3 Wallet, and UXUY and partners, like Ankr, Coinbase Prime, Sinohope, Slowmist, and Goplus, have brought a diversity of use cases to broader usage scenarios, ensuring accessibility and scalability for more potential Web3 users throughout 2024.

Additionally, Bitlayer has forged strong ties with leading global tech media and niche crypto outlets. We’ve been fortunate to receive coverage from esteemed media channels including Fortune Crypto, The Block, Coindesk, Cointelegraph, and Bitcoin Magazine. This significant media attention has elevated our brand within the industry and reinforced our standing as a pivotal player in the dynamic Bitcoin ecosystem.

Diversified User Acquisition Strategy

Diversified entry strategies have been the key driver behind Bitlayer’s explosive growth in 2024. These strategies encompass, but are not limited to BTCFi Carnival, Mining Gala Events, Ready Player One, Dapp Center, and Gamified Racer Center, etc.

Through these marketing and campaign initiatives, developers are increasingly integrating into the Bitlayer ecosystem, and users are gaining a clear understanding of Bitlayer’s innovations. This is not only crucial for raising awareness but also plays a significant role in fostering a loyal and engaged community.

Road to Bitlayer’s Upgrade: Paving the Way to Bitcoin Next

Building a novel protocol based on the BitVM paradigm that introduces more use cases into the Bitcoin ecosystem, thereby unlocking Bitcoin’s value, and harnessing its security, is the open future we all desire and deserve.

Bitlayer has joined the BitVM Alliance, founded by Robin Linus and Lukas George, as a key member, and also operates as a pioneer in actualizing BitVM.

Bitlayer’s vision will be realized through the rollout of a mainnet in multiple stages. In the foreseeable future, Bitlayer Mainnet V2, a Bitcoin-native rollup in which state transitions are protected by Bitlayer’s OpVM technique, a verification gadget based on BitVM and zero-knowledge proofs, will be launched for the Bitcoin community.

Please note: You can read more about Bitlayer’s research reports and insights for innovation improvements here: https://blog.bitlayer.org/?collections=bl_analysis_research

Outlook

Over the past year, Bitlayer has achieved numerous accomplishments, including the successful completion of financing, the construction of its ecosystem, and the expansion into global markets, among others. The Bitlayer team would like to thank the community and everyone that has been a part of helping build and grow the Bitlayer ecosystem as a strong and lasting force.

2025 is already in planning, and it promises to be another innovative year for Bitcoin builders. As Bitlayer co-founder Charlie Hu said in the Bitcoin Next Summit, as Bitcoin becomes more popular and widely accepted, it is becoming an important medium for global financial exchange, promoting integration between different markets and cultures.

The Bitlayer team is excited for the year ahead and to continue exploring and building, with many exciting developments to come. We invite you to explore the Bitlayer ecosystem and join us as we build the future of Bitcoin together.

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