Navigation Directory
1 Introduction
2. Development of Bitcoin Ecosystem
3. Bitlayer project and ecological highlights
4. Experience and gains from different roles
5. Bitlayer’s core advantages
6. Differences between Bitcoin and Ethereum in usage scenarios
7. Challenges and feelings in starting a business
01. Introduction
Welcome to Ryze Up, brought to you by Ryze Labs. Ryze Labs is a bridge between the East and the West. We want to accelerate the development of Web3 in emerging markets and impact the world of Web3 around the world. Local insights, global impact, let’s start together. Time to Ryze Up.
This episode's host
Fred, Ryze Labs Researcher, focuses on expanding the fund’s impact in the Chinese-speaking community and providing ideas and advice to the fund’s portfolio companies.
Special Guest
Charlie Hu is the co-founder of Bitlayer, with extensive experience in the blockchain industry and a deep professional background. He participated in the first round of investment in Polkadot in 2017, actively promoted the Polkadot project in China, established the PolkaBase brand, and supported the success of multiple Polkadot projects. In 2021, he joined the Polygon official team to lead the development of the Asia-Pacific ecosystem. In 2022, he co-founded Bitlayer with his partner Kevin, focusing on Bitcoin's second-layer expansion solutions and infrastructure construction.
02. Development of Bitcoin Ecosystem
The Bitcoin ecosystem is developing rapidly, especially after the Inscription Summit, many new assets and opportunities have emerged. The Inscription Summit revealed the huge potential of Bitcoin in the field of digital assets, attracting the attention of a large number of developers and investors. As digital gold, Bitcoin's decentralization and anti-censorship characteristics make it trusted and valued worldwide. In the field of DeFi, Bitcoin has also shown great potential, especially in asset management, lending and liquidity provision. Charlie Hu believes that the development of Bitcoin in the field of DeFi will bring more innovation and growth opportunities to its ecosystem.
03. Bitlayer project and ecological highlights
The Bitlayer project was co-founded by Charlie Hu and his partner Kevin to solve the scalability problem in the Bitcoin ecosystem. The project has developed rapidly, has completed its seed round of financing, and has attracted the attention of many internationally renowned investment institutions. There are many excellent projects in the Bitlayer ecosystem, such as Avalon Finance and Vanilla Finance. Avalon Finance is a Bitcoin native lending project that achieves high capital utilization and rapid growth by combining Bitcoin assets and smart contracts. Vanilla Finance is a low-threshold guessing project that combines Bitcoin's free market logic and attracts a large number of users to participate. In the future, Bitlayer plans to further expand its ecosystem, support more developers and application scenarios, and promote the development of the Bitcoin ecosystem.
04. Experience and gains from different roles
In the blockchain industry, different roles bring different experiences and gains. As a project owner, investor, and entrepreneur, Charlie Hu emphasized the importance of international teamwork and shared the skills and experience accumulated in different roles. He believes that technical understanding and innovative thinking are crucial in ecosystem construction, which are the core capabilities he applied in the Bitlayer project. Past experiences have trained him to think about developer support and ecosystem construction, allowing him to think more carefully and execute more effectively in ecosystem support and activities.
05. Bitlayer’s core advantages
Existing Bitcoin expansion solutions have many shortcomings and cannot meet the needs of large-scale commercial applications. By introducing new technologies and solutions, Bitlayer achieves the safe and equivalent expansion of Bitcoin and avoids the security risks of traditional side chains. Its core technologies include Bitcoin's second-layer expansion and trustless cross-chain asset solutions, which bring new development opportunities to the Bitcoin ecosystem. Bitlayer has significant advantages in technology and security. By being compatible with EVM and multiple VMs, Bitlayer can attract more Ethereum developers to join and promote the development of the Bitcoin ecosystem. In addition, Bitlayer's trustless cross-chain solution greatly reduces security risks and improves users' trust in cross-chain assets. Its innovative expansion technology also provides strong support for the sustainable development of the Bitcoin ecosystem.
06. Differences between Bitcoin and Ethereum in usage scenarios
Bitcoin and Ethereum have significant differences in security, decentralization, and use cases. As a more secure and decentralized digital asset, Bitcoin is mainly used for value storage and transactions. Ethereum, on the other hand, is widely used in various decentralized applications and DeFi projects because of its smart contracts and Turing completeness. The differences in user needs and application scenarios also determine the differences between the two in ecological construction. Bitcoin users are more concerned about security and stability, while Ethereum users are more concerned about asset growth and transaction speed. This difference gives Bitcoin an advantage in terms of security and long-term stable returns, while Ethereum is more competitive in terms of fast transactions and innovative applications.
07. Challenges and feelings in entrepreneurship
In the process of starting a business, Charlie Hu faced many challenges, including pressures in team management, business development, and marketing. Compared with investment, starting a business requires more multifaceted capabilities and a higher sense of responsibility. Charlie Hu emphasized that starting a business requires not only technical and business capabilities, but also good management and teamwork to cope with the ever-changing market environment and competitive pressure. In the process of starting a business, he also needs to do a lot of work in internationalizing the team and market development to ensure the continued development of Bitlayer. Charlie Hu shared his experience in managing a small team to a large team in the process of starting a business, how to maintain team culture and deal with various challenges, which are all important experiences he learned in the process of starting a business.
