Foresight News reports that the blockchain network Elastos has announced the launch of its Bitcoin Layer2 network BeL2's Arbiter network public beta. Arbiter nodes provide time-based transaction supervision and decentralized dispute resolution capabilities, allowing Bitcoin to remain on the main network while utilizing smart contracts on the EVM blockchain.
The beta version of the Arbiter network will be conducted in phases, starting with reducing collateral restrictions to maintain stability and gather feedback from initial participants. During this phase, users can stake a small amount of ELA or ELA-based NFTs to ensure sufficient protection is provided to support fair processes when the network accepts testing. Initially, rewards will be distributed in the form of ELA, and the BTC fee structure is planned for future updates.
