BEVM, a Bitcoin Layer2 project, has recently completed its seed round and a portion of its Series A round, securing tens of millions of USD from over 20 investors including RockTree Capital, Waterdrip Capital, Arkstream Capital, and others. The Series A valuation for BEVM reached $200 million, which will help accelerate the project’s international development and roll-out. BEVM is the first EVM-compatible Bitcoin Layer2 network built on Taproot Consensus, utilizing $BTC as gas with the goal of bringing 10% of $BTC into its Layer2 network environment. The testnet Canary network went live in July 2023, boasting nearly 100,000 on-chain users, over 6 million transactions processed, and more than 30 ecosystem projects. The mainnet for BEVM is set to launch on March 28th. Gavin Guo, Core Builder of BEVM, highlighted the team’s six years of exploration into Bitcoin Layer2 solutions, culminating in the Taproot Consensus and a decentralized, secure BTC layer2 solution.
BEVM has already implemented decentralized Bitcoin cross-chain custody services through Schnorr Signature, MAST, and Bitcoin SPVs, with plans to launch “BEVM-Stack” to help developers launch ‘BTC layer2’ with one click. Additionally, the project will introduce the DBFX protocol to enable $BTC to circulate on any chain in a decentralized manner. Omer Ozden, Chairman of RockTree Capital, praised BEVM as an innovative advancement in the Bitcoin ecosystem space, predicting significant scaling in the coming years as crypto purists seek the most decentralized chain and TradFi investors look for the highest safety in Bitcoin from a Securities Law perspective. BEVM has gained traction in the Asian market and emerged as a leader in technical competitions, positioning itself as an advanced L2 solution with significant user adoption.
The BTC EVM is the primary focus of BEVM, aiming to build a decentralized BTC Layer2 compatible with EVM to allow seamless deployment of various EVM ecosystem applications on BEVM. This integration will help increase Bitcoin usage and enable various commercial scenarios. The project’s progress and innovative approach have garnered attention and investments from a diverse group of investors, indicating confidence in BEVM’s potential to revolutionize the Bitcoin ecosystem. With a strong technical foundation and a clear roadmap for future developments, BEVM is well-positioned to drive the adoption and utilization of Bitcoin in a layer2 network environment.
For more information about BEVM, individuals can visit their website at www.bevm.io or contact them via email at [email protected] Jhon Zhang has been listed as the media contact person for BEVM. It is important to note that the text provided is an advertorial article and is not part of Cryptonews.com’s editorial content. The collaboration between BEVM and its investors signifies a shared vision for innovation and growth within the Bitcoin ecosystem, highlighting the potential for decentralized solutions to reshape the digital asset landscape. The completion of the seed round and Series A funding marks a significant milestone for BEVM, solidifying its position as a leader in the development of Bitcoin Layer2 solutions and showcasing its potential to drive advancements in decentralized finance and blockchain technology.
