Bitlayer Labs Secures $5 Million in Seed Funding to Spur Bitcoin L2 Innovation

Bittime - Bitlayer Labs, a company building the underlying infrastructure for Bitcoin Layer 2 (L2) solutions, has secured $5 million in a seed funding round. Check out who the investors are behind this initial funding.

Framework Ventures and ABCDE Capital Lead Investment

This funding round was co-led by Framework Ventures and ABCDE Capital, signaling strong support for Bitlayer's mission to improve Bitcoin's scalability and functionality.

Source:@bitlayerlabs/X

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List of Other Notable Investors

In addition to key investors, the round also attracted participation from a wide range of respected institutions and individuals in the crypto asset space. They include:

• Blockchain Technology Companies: StarkWare, OKEx Ventures
• Decentralized Autonomous Organization (DAO): Alliance DAO
• Blockchain Investment Funds: UTXO Management, Asymmetric Capital, Kenetic Capital, Pivot Global, Web3Port, Mindfulness Capital, C6E Capital, PAKA, Comma3 Capital, Kronos Ventures
• Industry Leaders: Bitcoin OG & KOL Dan Held, Messari CEO Ryan Selkis, Web3 entrepreneur and angel investor Lianchuang Dan McArdle

This broad participation underscores the growing interest in L2 solutions for Bitcoin and the potential that Bitlayer has in this space.

Get to know Bitlayer Lab more

Bitlayer Lab is a pioneering blockchain development center committed to advancing the boundaries of blockchain technology and growing the decentralized ecosystem. 

Founded by a dedicated team of blockchain enthusiasts and developers, Bitlayer Lab accelerates blockchain adoption across sectors through a comprehensive range of research, development and consulting services.

With a focus on innovation and collaboration, Bitlayer Lab explores new applications for blockchain and improves existing protocols to increase scalability, security, and interoperability. 

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Mainnet Launch and Incentive Program in Sight

With funding secured, Bitlayer Labs is gearing up for their mainnet launch scheduled for April 5, 2024. Additionally, they plan to unveil their ecological incentive program, “Ready Player One,” designed to foster a vibrant ecosystem around their L2 infrastructure.

Positive Steps for Bitcoin Scaling

The successful funding round and upcoming launch make Bitlayer Labs a key player in the Bitcoin L2 landscape. Their innovative solution has the potential to overcome scalability challenges and open new possibilities for the Bitcoin network. 

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on  Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn  Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.