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Bevm (BEVM)

Last updated: Apr 24, 2024

BEVM is a decentralized, EVM-compatible Bitcoin Layer 2 solution, leveraging BTC as gas. It enables Ethereum ecosystem DApps to operate on Bitcoin L2, promoting cross-chain interaction through Bitcoin light nodes and POS consensus. BEVM ensures data integrity by synchronizing Bitcoin block headers and cross-chain transaction proofs, supports decentralized cross-chain transactions using Taproot and POS nodes, and offers a robust consensus mechanism with up to 1000 nodes.

Seed and Partial Series A Round: $10M

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Overview

Project industry	Bitcoin Ecosystem
Product type	Ecosystem
Founded	Singapore
Whitepaper	Open

What is Bevm

Bevm is the first EVM-compatible Bitcoin Layer2 network built on Taproot Consensus and uses $BTC as gas, aiming to bring 10% of $BTC into its Layer2 network environment. BEVM’s testnet Canary network went live in July 2023, which to date has nearly 100,000 on-chain users, processed over 6 million transactions and currently has more than 30 ecosystem projects. BEVM’s mainnet is scheduled to launch on March 28th.

BEVM has already implemented decentralized Bitcoin cross-chain custody services through Schnorr Signature, MAST and Bitcoin SPVs. In the future, BEVM will also launch “BEVM-Stack” to help developers launch ‘BTC layer2’ with one click; and will launch the DBFX protocol to allow $BTC to circulate on any chain in a decentralized manner.

The BTC EVM is the primary vision of BEVM, building a decentralized BTC Layer2 compatible with EVM allows seamless deployment of various EVM ecosystem applications on BEVM, increasing Bitcoin usage and commercial scenarios.