Bitcoin Layer 2, BEVM, Launches Taproot Consensus-Based Mainnet

Bittime - Good news for Bitcoin (BTC) fans! Bitcoin Layer 2 (L2) project BEVM has just announced the launch of a mainnet based on the Taproot consensus. This mainnet is claimed to bring decentralization and scalability benefits to Bitcoin users.

What is BEVM?

BEVM is an L2 project that aims to improve Bitcoin's scalability and functionality without changing the underlying protocol. To achieve this, BEVM uses sidechain technology that is connected to Bitcoin via the Taproot consensus mechanism.

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Taproot Consensus Advantage

Taproot Consensus is a new technology that was implemented in Bitcoin in November 2021. This technology offers several advantages over previous consensus, including:

• Decentralization: Taproot Consensus allows BEVM to operate in a decentralized manner without the need for a trusted third party.
• Privacy: Taproot increases the privacy of Bitcoin transactions by hiding complex information in scripts.
• Efficiency: Taproot enables more streamlined and cost-effective transactions.

Also Read: Taproot Bitcoin Upgrade Guide for Beginners

BEVM Mainnet Main Features

BEVM Mainnet offers several main features, including:

• Open Access: BEVM Mainnet is open to all Bitcoin users.
• Full Decentralization: The BEVM mainnet is operated in a decentralized manner based on Taproot consensus.
• Automatic Signatures: BEVM mainnet uses MAST technology (Musig2 + Bitcoin SPV) to enable automatic signatures on transactions.

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Benefits for Bitcoin Users

The launch of BEVM Mainnet is a significant step in the development of Bitcoin's L2 technology. BEVM offers a decentralized and scalable solution that can increase the usability of Bitcoin for users. 

In the future, BEVM is expected to attract more users and developers into the Bitcoin ecosystem. The launch of BEVM Mainnet is also expected to provide benefits for Bitcoin users, including:

• Faster and Cheaper Transactions: BEVM enables faster and cheaper transactions compared to on-chain Bitcoin transactions.
• Wider Functionality: BEVM can support a variety of new applications and functionality that is not possible with Bitcoin on-chain.
• Privacy Enhancement: BEVM increases the privacy of Bitcoin transactions by using Taproot technology.

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How to Buy Crypto with 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.

Also Read:

What is Consensus Layer in Blockchain?

Layer 1 vs Layer 2 Blockchain, What's the Difference?

What is Mainnet in Blockchain & Why is it Important?

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.