As the Bitcoin network grows, so does the need for solutions that can handle an increasing volume of transactions efficiently. This is where Layer 2 solutions come into play. They are designed to augment the capabilities of the Bitcoin blockchain by handling transactions off the main chain, thus improving transaction speeds and reducing costs without compromising on security.
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Layer 2 for Bitcoin
The following table provides a comprehensive overview of various Bitcoin Layer 2 projects. It categorizes them by their unique relationship with Bitcoin, the type of Layer 2 solution they provide, and their compatibility with Ethereum Virtual Machine (EVM), showcasing the diverse approaches developers are taking to enhance Bitcoin’s scalability.
| Project Name | Relationship with Bitcoin | Type of Layer 2 | EVM Compatibility |
|---|---|---|---|
| Syscoin | Merge-mining | Layer 2 Infrastructure | Yes |
| BVM | Optimistic Verification of computation | Layer 2 Infrastructure | Yes |
| Elastos | 2-way-peg | Sidechain | Yes |
| Liquid Network | 2-way-peg | Sidechain | No |
| Merlin Chain | 2-way-peg for Bitcoin-native assets | Sidechain | Yes |
| BEVM | BTC light clients | Sidechain | Yes |
| Map Protocol | BTC light clients | Sidechain | Yes |
| Interlay | Decentralised Bitcoin Bridge | Sidechain | No |
| Rosetta Network | Decentralised BRC-20 Bridge | Sidechain | No |
| Dovi | Decentralised multi-signature transactions | Sidechain | Yes |
| Rootstock | Merge-mining | Sidechain | Yes |
| Botanix | Spiderchain: Decentralised chain of Multi-sigs | Sidechain | Yes |
| Stacks | Transactions are hashed and stored on Bitcoin | Sidechain | No |
| Bison Labs | Inscribe ZK Proofs on Bitcoin, verification on front end | ZK Rollup | No |
| LumiBit | On-chain storage script and off-chain validator | ZK Rollup | Yes |
| B² Network | Optimistic Verification of ZK-Proofs | ZK Rollup | Yes |
| Citrea | Optimistic Verification of ZK-Proofs | ZK Rollup | Yes |
| ROOS | Optimistic Verification of ZK-Proofs | ZK Rollup | Yes |
| SatoshiVM | Optimistic Verification of ZK-Proofs | ZK Rollup | Yes |
| BOB | BTC light clients > Merge-mining > BitVM | Optimistic Rollup | Yes |
| BiopDAO | Built using BVM | Optimistic Rollup | Yes |
| Rollux | Built using Syscoin | Optimistic Rollup | Yes |
| Bitlayer | Optimistic Verification of computation | Optimistic Rollup | No |
Bitcoin Layer 2
The list of Layer 2 solutions is a testament to the innovative strides being made within the Bitcoin ecosystem. These projects reflect a commitment to not only preserve the core principles of Bitcoin but also to expand its utility and accessibility. With a range of approaches from merge-mining to Optimistic and ZK-Rollups, the landscape is rich with potential. EVM compatibility also indicates a bridge towards interoperability with smart contract platforms, opening up a world of possibilities for developers and users alike.
As these projects continue to mature and gain adoption, they will play a critical role in shaping the future of Bitcoin as a scalable, efficient, and versatile platform for the next generation of financial services and beyond. Read also about Bitcoin DeFi ecosystem here.
P.S. Nothing here is financial advice. The above links are affiliate.
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