Orbiter Finance: Helping BTC Layer 2 to build a real-time communication infrastructure in the multi-chain era

(May 8, 2024, Hong Kong) — Orbiter Finance joined hands with OKX Web3, Zulu Network and ChainCatcher to successfully hold the "BTC Layer2 Assembly in HK" at the Hong Kong Centennial Architectural Fringe Club. The conference attracted the participation of many well-known Bitcoin native L2 solutions, including Merlin Chain, BEVM, Bitlayer, BOB, B² Network, Nubit, etc. The conference was honored to invite OKX Web3 CIO Jason Lau, Hashkey Global MD Ben El-Baz and Bitcoin independent researcher Hong Shuning to discuss the development prospects of BTC L2.

Orbiter Finance co-founder Iris pointed out in his opening speech that we are moving towards a multi-chain era, and more and more blockchains are being developed and deployed. With the rise of modular blockchains, universal rollups and application chains, the number and diversity of blockchains are growing rapidly, and the need for real-time multi-chain communication and breaking down inter-chain interaction barriers is becoming increasingly urgent. This is what Orbiter is committed to To solve the underlying infrastructure problems.

2023 is an important year for Ethereum Layer 2. More than 20 Ethereum second-layer public chains have been successfully launched, and Layer 2’s expansion plan has been widely recognized. At the same time, the fragmentation of users and liquidity caused by many second layers has gradually become apparent. As one of the best interoperability solutions on the Ethereum network, Orbiter has processed more than $17 billion in funds and 21 million transaction volumes through the Orbiter bridge and the upcoming Vizing, taking a leading position in the field of cross-chain Layer 2 bridging. It has more than half of the market share and has access to more than 20 Ethereum second-layer solutions, including mature networks such as Arbitrum, Polygon, Optimism, and zkSync Era, while quickly integrating newly launched L2 networks such as Blast, Morph, Taiko, Zircuit, Mode Network, etc., have largely solved the problem of Ethereum L2 liquidity fragmentation. As an important infrastructure of Ethereum, they provide efficient one-stop cross-chain data communication services for more than 3 million users around the world.

The success of Ethereum Layer 2 has inspired BTC ecological builders. They also hope to achieve expansion by building a second-layer network, thereby unleashing the potential of Bitcoin. After all, Bitcoin, as the cornerstone of the entire encryption industry, is currently only regarded as a value storage tool, and the BTC network needs to further empower the ecosystem so that the concept of Bitcoin can truly be implemented and popularized on a large scale.

As a result, Bitcoin’s second-layer network has experienced explosive growth since the end of 2023. As Merlin co-founder Jeff said, the Bitcoin second-layer network is undoubtedly one of the most important tracks in the current and future bull market - whether considering the prosperity of Ordinals protocol and BTC new assets, or the big market trends that can be seen in the future. break out.

Orbiter is copying its successful experience and advanced technology on Ethereum to the Bitcoin network, enhancing the interoperability of the BTC second-layer network with other networks, and providing The upcoming BTC second-tier track will provide support. By accessing Orbiter Finance, the BTC layer 2 network will be able to connect to multiple blockchains in other ecosystems. Developers in the Bitcoin and EVM ecosystems can seamlessly deploy their applications to chains supported by Orbiter, and BTC ecosystem users can also easily access numerous dApps in other ecosystems through Orbiter.

BEVM co-founder Gavin said: "One of our goals is to allow BTC assets to circulate on any network. We can learn from the excellent technologies and principles of other blockchains to achieve expansion for BTC, such as from EVM To BVM. We bring BTC assets to networks such as Ethereum and Solana through full-chain message information management protocols such as LayerZero and Wormhole, because all blockchain technologies are essentially prepared for Bitcoin.”

Zhixi, BOB’s ecological growth director, and Nubit’s growth director, Xavier, pointed out that for ecological builders, improving infrastructure is the key to attracting users and maintaining stickiness, and is also conducive to the prosperity and development of the ecosystem. Jordan, the founder of Uxuy, emphasized the importance of positive interaction between the underlying technology and users and developers for ecological vitality.

Finally, Iris pointed out that Orbiter has rapidly evolved from a single bridging business to an ecological infrastructure provider. By opening up the BTC ecosystem, Orbiter further realizes this vision. At present, Orbiter's aggregated signature zkp generation speed has reached once every 16 seconds. In the future, it will provide developers with a variety of full-chain APIs, and reduce the user's interaction threshold in the multi-chain era through the AA solution, becoming a true multi-chain real-time communication layer. Connect all networks and drive blockchain adoption at scale.

As an important participant in Hong Kong's Web3 forces, Orbiter Finance is committed to building and exerting the influence of blockchain in Hong Kong. As the blockchain center in Asia, Hong Kong’s geographical location, financial system and technological innovation atmosphere make it an ideal base for Orbiter. Orbiter will continue to expand its technology and ecosystem in Hong Kong, promote the popularization and application of blockchain, influence more people and inspire innovation. Orbiter believes that through its efforts and investment in Hong Kong, it will bring positive impetus to the development of global blockchain and shape a more open and innovative future.

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