BEVM, a Bitcoin Layer2 project, has successfully completed a seed round and a part of its Series A round, raising tens of million USD from over 20 investors including RockTree Capital, Waterdrip Capital, and Arkstream Capital. The project aims to bring 10% of Bitcoin into its Layer2 network environment and has already seen success with its testnet Canary network, boasting nearly 100,000 on-chain users and processing over 6 million transactions. The mainnet is set to launch on March 28th, with a valuation of $200 million accelerating the project’s international development and roll-out.
Gavin Guo, Core Builder of BEVM, expressed that the Taproot Consensus is the culmination of six years of exploration into Bitcoin Layer2 solutions, with BEVM offering the most native and decentralized implementation of Bitcoin primitive and ethos into a Layer2 network. The project has already implemented decentralized Bitcoin cross-chain custody services through Schnorr Signature, MAST, and Bitcoin SPVs. Additionally, BEVM plans to launch the “BEVM-Stack” to help developers launch BTC layer2 networks with one click, as well as the DBFX protocol to enable Bitcoin to circulate on any chain in a decentralized manner.
Omer Ozden, Chairman of RockTree Capital, highlighted the significance of BEVM in the Bitcoin ecosystem space, predicting significant scaling in the future as crypto purists seek the most decentralized chain. BEVM is seen as an innovative advancement in this area, with years of development and users compared to other Layer2 solutions. The project has won major technical competitions and gained significant traction in the Asian market, which is considered a hub for Bitcoin ecosystem innovation and usage.
BEVM’s primary vision is to build a decentralized Bitcoin Layer2 compatible with Ethereum Virtual Machine (EVM), allowing for seamless deployment of various EVM ecosystem applications on the network. The project aims to increase Bitcoin usage and commercial scenarios, catering to both crypto purists seeking decentralized solutions and traditional finance investors looking for safety and compliance with Securities Law. BEVM’s focus on decentralization and security sets it apart in the Bitcoin Layer2 space, offering a unique solution for users.
Investors in BEVM include a diverse group of companies such as Satoshi Lab, Web3port, and Electrum Capital, signaling confidence in the project and its potential for growth. With plans to launch the mainnet on March 28th, BEVM is poised to make a significant impact in the Bitcoin ecosystem, providing a secure and decentralized Layer2 solution for users and developers. The project’s innovative approach to merging Bitcoin and Ethereum technologies sets it apart in the market, paving the way for increased adoption and usage of Bitcoin in various commercial applications.
For more information about BEVM, interested parties can visit their website at www.bevm.io or contact them via email at [email protected] The project’s success in completing its seed round and Series A round, along with its upcoming mainnet launch, signals a promising future for BEVM as a leading Bitcoin Layer2 solution in the industry. With a focus on decentralization, security, and compatibility with EVM, BEVM aims to revolutionize the Bitcoin ecosystem and drive broader adoption of Bitcoin in various commercial scenarios.
