BRC20 has just unleashed its Layer2 platform, BL2, which intends to connect ZK-Rollup with Bitcoin and execute multi-node authentication on the Layer2 network. In turn, this will help improve the safety aspects of zero-knowledge proofs. BL2 is akin to the Bitcoin security consensus.
A few BTC main developers and early associates created the manageable BTC Layer2 platform known as BL2. It has been created on the VM universal protocol and BTC safety base. The intention is to set up an exclusive BTC Layer 2 ecosystem by building a dApp and smart contract platform.
VM, Layer2’s center, is a Layer 2 platform inspired by the VM universal protocol. It helps set up an independent authentication and consensus infrastructure for Bitcoin block header information via transferring Layer 2 block header summary information to the BTC Layer 1 network for authentication. This ensures the Bitcoin network’s safety without the crowding caused by contract layer functions on the mainnet. Further, BL2 brings in ZK-Rollup to BTC Layer 2, executing multi-node ZK authentication on the Layer 2 network. It comes with the main segments like wallet, cross-chain bridge, consensus algorithm, and VM protocol.
BTC Layer 2 high-frequency chain allows multi-protocol BTC asset transfer and initiates quick and cost-effective transactions on Layer 2. The BTC roll-up establishes a ZK roll-up link between BL2 and the Bitcoin network to help with cross-chain functions and protocol calls with ETH and various other Layer 2 networks. A normal protocol adaptability is set up for multiple mainline VMs for the sake of asset cross-chain and protocol calls.
Its primary features include support for cross-chain inscription management and Bitcoin smart contracts, as well as Bitcoin DeFi, a standard BIP algorithm, a VM standard protocol, and an inscription support mechanism. It boasts a faster and more cost-effective Bitcoin network, as well as a powerful L2 that is protected by Bitcoin security features. Throughout the chains, there is an all-inclusive inscription. BL2 will initially include inscription devices on mainline chains.
The token, $BL2T (BRC-20), comes with a supply ceiling of 21,000,000. The BTC network L2 governance token comes with 20% set gas burning, 20% OG mining plan, 10% node rewards, 5% team, along with 5% marketing costs, 5% user trading benefits, 5% SWAP liquidity improvement, and 50% IDO.
Source: https://www.cryptonewsz.com/brc20-releases-bitcoin-security-consensus-layer2-platform-bl2/