Tron founder unveils Bitcoin layer-2 solution as BTC DeFi breaks $1.2 billion in TVL

Tron blockchain laminitis Justin Sun has unveiled plans for a Bitcoin-based layer-2 solution.

In a Feb. 15 post connected the societal media level X (formerly Twitter), Sun revealed his intent to foster decentralization and seamless integration of divers token formats wrong the TRON web and the broader Bitcoin ecosystem. This strategical determination would heighten interoperability and let Bitcoin to pat into Tron’s $55 cardinal stablecoin pool.

“This innovative attack aims to decentralize and intertwine assorted token types wrong the TRON network, including stablecoins, with the Bitcoin web and its constructed Layer 2s, similar the Bitcoin Ordinals, successful galore combinatory ways,” Sun explained.

While circumstantial timelines stay undisclosed, TRON’s Bitcoin layer-2 roadmap delineates 3 pivotal phases.

The archetypal signifier concentrates connected integrating assorted TRON token formats with the Bitcoin web done cross-chain technology. Concurrently, Tron DAO aims to bolster Ordinals and Bitcoin layer-2 solutions by investing successful intuitive wallets and supportive tools for BRC-20 tokens.

In signifier two, TRON volition collaborate with aggregate Bitcoin layer-2 protocols to let its users to enactment successful staking activities crossed divers BTC-based layer-2 networks.

The web volition motorboat a layer-2 solution interfacing TRON, BitTorrent Chain (BTTC), and the Bitcoin web for the last phase. Notably, this solution volition present a Bitcoin-compatible protocol characterized by the agility of a proof-of-stake (POS) blockchain strategy and the robust information offered by proof-of-work (POW) networks.

Bitcoin’s accelerated TVL increase

Bitcoin’s full worth of assets locked (TVL) has surpassed the $1 cardinal mark, marking a notable milestone successful the crypto landscape.

According to data from DeFiLlama, Bitcoin’s TVL experienced a staggering surge of astir 300% implicit the past week alone, reaching $1.232 billion. This surge catapults Bitcoin into the apical 6 networks successful presumption of TVL, outpacing astute contract-enabled blockchains similar Cardano and Avalanche.

The accelerated maturation successful BTC’s TVL tin beryllium attributed chiefly to the recent Merlins Seal event hosted by Merlin Chain, a autochthonal Bitcoin layer-2 web developed by Bitmap Tech. This lawsuit launched its governance token, MERL, which incentivizes users to involvement assets to gain M-points. Over $800 million, from implicit 16,000 BTC, has been staked since Feb. 9.

This milestone reflects the maturation of DeFi activities wrong the Bitcoin ecosystem and further solidifies its presumption arsenic the premier blockchain successful the evolving crypto landscape.

The station Tron laminitis unveils Bitcoin layer-2 solution arsenic BTC DeFi breaks $1.2 cardinal successful TVL appeared archetypal connected CryptoSlate.