Bitcoin Layer2 BEVM Announces Investment from Bitmain

Bitcoin Layer2 BEVM Declares Funding from Bitmain

BTC Layer2 project BEVM has officially disclosed an funding from Bitmain, the main manufacturer of cryptocurrency mining servers globally. The categorical quantity of the funding remains undisclosed.

Established in 2013, Bitmain silent stands this day as a valuable resolve within the digital asset mining hardware manufacturing plot. Its Bitcoin mining machines previously commanded over 70% of the area market portion. Significantly, this marks Bitmain’s sole funding within the Bitcoin Layer2 area to this level.

Gavin Guo, Core Builder of BEVM Foundation, remarked, “Next, BEVM will delve into exploring Bitcoin hashrate and the PoW ecosystem’s utility on BEVM, that would possibly well assist facilitate the migration of trillions of bucks in PoW hashrate sources and a appreciable quantity of $BTC to BEVM. This will empower Bitmain sources and unlock liquidity and extra various monetary utility scenarios for the length of the BTC Layer2 network.”

BEVM serves as the pioneer EVM-like minded Bitcoin L2 network based on the Taproot Consensus, the usage of BTC as Gas. Leveraging native Bitcoin technologies akin to Schnorr Signature, MAST, and Bitcoin Light Node Community, it achieves fully decentralized BTC imperfect-chain efficiency, thereby enabling the trustless integration of BTC into a broader spectrum of applications and facilitating actual BTC liquidity circulation.

BEVM launched its mainnet on March twenty eighth, boasting over 700,000 person addresses and data superhighway web web site hosting bigger than 30 ecosystem initiatives. BEVM additionally lately announced it had secured hundreds of hundreds of bucks in financing, with investors including RockTree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, and relating to 20 other institutions, resulting in a publish-funding valuation of $200 million for the company.

For additional info about BEVM, please declare over with www.bevm.io or contact [email protected]

Media Contact: Jhon Zhang

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Source : cryptonews.com