Bitlayer is a Layer 2 solution based on Bitcoin, designed to enhance Bitcoin's programmability and DeFi ecosystem by being compatible with the Ethereum Virtual Machine (EVM) and smart contract functionality. Here are the key details:

Core Technology:

Utilizes the BitVM paradigm to achieve Bitcoin cross-chain bridging and computational verification 12.
Supports EVM-compatible smart contracts, allowing developers to migrate Ethereum ecosystem applications 23.
Combines zero-knowledge proofs (ZKP) and optimistic execution mechanisms to improve transaction efficiency and security 2.
Token (BTR):

Purpose: Ecosystem governance, payment of gas fees, participation in protocol incentives 34.
Recent Activity: Binance Wallet previously launched BTR airdrop and pre-sale events @BitlayerLabs
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