Bitlayer Announces Mainnet Launch of Bitcoin Cross-Chain Bridge BitVM

Bitlayer, a Bitcoin DeFi infrastructure invested by traditional asset management giant Franklin Templeton, has announced the mainnet launch of its smart contract cross-chain bridge, BitVM. This solution allows users to lock Bitcoin into smart contracts and convert it into a cross-chain wrapped asset, Peg-BTC (YBTC), and has already achieved integration with networks such as Sui, Base, and Arbitrum. Bitlayer stated that the bridging solution uses a single-signature verification mechanism to optimize security, aiming to allow native $BTC liquidity to enter the smart contract ecosystem without changing the underlying Bitcoin protocol. (Cointelegraph) [Odaily Planet Daily News]