Bitcoin Layer2 Revealed: Exploring Key Projects to Watch in 2024

Recently, Bitcoin hit a new all-time high of $73,000 and is about to be halved, which has once again attracted public attention. This hardware-intensive proof-of-work architecture is secure but not scalable. The network can only process a small number of transactions per second, so it is not efficient for daily peer-to-peer transactions. However, things are changing, and we are not talking about a new token, but a whole new dimension - Bitcoin Layer 2 (L2).

L2 is a network overlaid on the main chain that can process a batch of transactions, moving the most important tasks of the main chain out, thereby increasing overall throughput.

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