Author: Ryze Labs Insights
Table of Contents
1. Introduction
2. Development of the Bitcoin Ecosystem
3. Bitlayer Project and Ecosystem Highlights
4. Experiences and Gains for Different Roles
5. Core Advantages of Bitlayer
6. Differences in Use Cases between Bitcoin and Ethereum
7. Challenges and Feelings in Entrepreneurship
01. Introduction
Welcome to Ryze Up presented by Ryze Labs. Ryze Labs serves as a bridge connecting the East and West, aiming to accelerate the development of Web3 in emerging markets and make an impact on the global Web3 world. Through Local Insights, Global Impact, let’s embark on this journey together, Time to Ryze Up.
Host of this Episode
Fred, Ryze Labs Researcher, focuses on expanding the impact of funds within the Chinese community and providing ideas and advice to the fund’s portfolio companies.
Special Guest
Charlie Hu, Co-Founder of Bitlayer, brings rich experience in the blockchain industry and a profound professional background. He participated in the first round of investment in Polkadot in 2017 and actively promoted the Polkadot project in China, establishing the PolkaBase brand, which supported the success of multiple Polkadot projects. In 2021, he joined the official Polygon team, leading the ecosystem development in the Asia-Pacific region. In 2022, he co-founded Bitlayer with partner Kevin, focusing on Bitcoin layer-two scaling solutions and infrastructure development.
02. Development of the Bitcoin Ecosystem
The Bitcoin ecosystem is rapidly evolving, especially after the Inscriptions Summit, where many new assets and opportunities have emerged. The summit revealed the significant potential of Bitcoin in the digital asset space, attracting the attention of numerous developers and investors. As digital gold, Bitcoin’s decentralization and censorship resistance make it widely trusted and valued globally. In the DeFi space, Bitcoin has shown great potential, particularly in asset management, lending, and liquidity provision. Charlie Hu believes that Bitcoin’s development in the DeFi space will bring more innovation and growth opportunities to its ecosystem.
03. Bitlayer Project and Ecosystem Highlights
Bitlayer, founded by Charlie Hu and his partner Kevin, aims to address the scalability issues within the Bitcoin ecosystem. The project has seen rapid development, completing a seed funding round and attracting attention from many internationally renowned investment institutions. The Bitlayer ecosystem includes several excellent projects like Avalon Finance and Vanilla Finance. Avalon Finance is a Bitcoin-native lending project that achieves high capital efficiency and rapid growth by combining Bitcoin assets with smart contracts. Vanilla Finance is a low-threshold prediction project that combines Bitcoin’s free-market logic and has attracted a large number of users. In the future, Bitlayer plans to further expand its ecosystem to support more developers and applications, driving the development of the Bitcoin ecosystem.
04. Experiences and Gains for Different Roles
In the blockchain industry, different roles bring different experiences and gains. As a project party, investor, and entrepreneur, Charlie Hu emphasizes the importance of international team collaboration and shares the skills and experiences accumulated in various roles. He believes that technical understanding and innovative thinking are crucial in ecosystem development, both of which are core competencies he applies in the Bitlayer project. His past experiences have honed his thoughts on developer support and ecosystem development, enabling him to have more rigorous thinking and effective execution in ecosystem support and activities.
05. Core Advantages of Bitlayer
Existing Bitcoin scalability solutions have many shortcomings and cannot meet the needs of large-scale commercial applications. Bitlayer, by introducing new technologies and solutions, achieves secure equivalent scalability for Bitcoin, avoiding the security risks of traditional sidechains. Its core technologies include Bitcoin’s layer-two scaling and trustless cross-chain asset solutions, bringing new development opportunities to the Bitcoin ecosystem. Bitlayer has significant advantages in technology and security. By being EVM- and multi-VM-compatible, Bitlayer can attract more Ethereum developers to join, promoting the development of the Bitcoin ecosystem. Moreover, Bitlayer’s trustless cross-chain solution greatly reduces security risks and enhances user trust in cross-chain asset transactions. Its innovative scaling technology also provides strong support for the sustainable development of the Bitcoin ecosystem.
06. Differences in Use Cases between Bitcoin and Ethereum
Bitcoin and Ethereum exhibit significant differences in security, decentralization, and use cases. Bitcoin, as a more secure and decentralized digital asset, is primarily used for storing value and transactions. Ethereum, on the