In an effort to expand the capabilities of the Bitcoin ecosystem, Elastos has unveiled BeL2, a new layer 2 network. BeL2 is designed to enable advanced types of transactions, such as smart contracts and irreversible digital agreements, directly on the Bitcoin network. With this innovation, Bitcoin holders now have the opportunity to place their bets and potentially earn interest on their holdings.
The birth of BeL2 is a response to the need for more complex functions in the Bitcoin infrastructure, which has traditionally been limited to basic transactions. By providing these advanced features, Elastos aims to reduce transaction fees for users, which currently average around $10. The initiative is part of a broader movement to improve Bitcoin’s functionality, with similar networks such as Stacks (STX) that have also sought to build on Bitcoin’s underlying technology.
The launch of BeL2 represents an important step towards diversifying use cases for Bitcoin, suggesting a future where Bitcoin’s utility extends beyond just being a store of value or medium of exchange. change. As the cryptocurrency space continues to grow, developments such as BeL2 show a trend towards more complex financial operations supported on established blockchain networks.
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