(8th May 2024, Hong Kong) — Orbiter Finance, in collaboration with OKX Web3, Zulu Network, and chaincatcher, successfully held the "BTC Layer2 Assembly in HK" at the Hong Kong Arts Festival, a century-old building. The conference attracted many well-known Bitcoin native L2 solutions, including Merlin Chain, BEVM, Bitlayer, BOB, B² Network, Nubit, and others. The conference was honored to have Jason Lau, CIO of OKX Web3, Ben El-Baz, MD of Hashkey Global, and independent Bitcoin researcher, Mr. Hong Shuning, to discuss the development prospects of BTC L2.

Iris, co-founder of Orbiter Finance, pointed out in her opening speech that we are moving towards a multi-chain era, with more and more blockchains being developed and deployed. With the rise of modular blockchains, universal rollups, and application chains, the number and diversity of blockchains are growing rapidly. The demand for real-time communication between multiple chains and breaking the barriers of inter-chain interaction is becoming increasingly urgent, and this is exactly the underlying infrastructure problem that Orbiter is committed to solving.

2023 was an important year for Ethereum Layer 2, with over 20 Ethereum Layer 2 public chains successfully launched, and Layer 2 scaling solutions gaining widespread recognition. At the same time, the fragmentation of users and liquidity brought about by numerous Layer 2 solutions has gradually become apparent. As one of the best interoperability solutions for the Ethereum network, Orbiter has processed over $17 billion in funds and 21 million transactions through Orbiter Bridge and the upcoming Vizing. It occupies a leading position in the cross-chain Layer 2 bridging field, with more than half of the market share, and has integrated with over 20 Ethereum Layer 2 solutions, including mature networks such as Arbitrum, Polygon, Optimism, and zkSync Era, while quickly integrating new L2 networks such as Blast, Morph, Taiko, Zircuit, and Mode Network. This has largely addressed the issue of Ethereum L2 liquidity fragmentation, serving as an important infrastructure for Ethereum and providing efficient one-stop cross-chain data communication services to over 3 million users worldwide.

The success of Ethereum Layer 2 has inspired BTC ecosystem builders, who also hope to achieve scalability through the construction of Layer 2 networks, thereby unlocking the potential of Bitcoin. After all, as the cornerstone of the entire crypto industry, Bitcoin is currently only seen as a store of value, and the BTC network needs to further empower the ecosystem to truly realize and achieve widespread adoption of the concept of Bitcoin.

Therefore, since the end of 2023, the second-layer network of Bitcoin has shown explosive growth. As Merlin co-founder Jeff said, the Bitcoin second-layer network is undoubtedly one of the most important tracks in the current and future bull market—whether considering the prosperity of the Ordinals protocol and the new assets of BTC, or the foreseeable outbreak of the market.

Orbiter is replicating its successful experience and advanced technology on Ethereum to the Bitcoin network, enhancing the interoperability of the BTC Layer 2 network with other networks, and providing support for the upcoming BTC Layer 2 track. By accessing Orbiter Finance, the BTC Layer 2 network will be able to connect to multiple blockchains in other ecosystems. Developers of the Bitcoin and EVM ecosystems can seamlessly deploy their applications on the chains supported by Orbiter, and BTC ecosystem users can easily access numerous dApps in other ecosystems through Orbiter.

Gavin, co-founder of BEVM, stated: "One of our goals is to enable BTC assets to circulate on any network. We can draw on the excellent technologies and principles of other blockchains to expand BTC, such as from EVM to BVM. Through LayerZero and messaging protocols like Wormhole, we bring BTC assets to networks such as Ethereum and Solana, as all blockchain technologies are essentially prepared for Bitcoin."

Zhixi, Director of Ecosystem Growth at BOB, and Xavier, Director of Growth at Nubit, pointed out that for ecosystem builders, perfecting infrastructure is key to attracting users and maintaining stickiness, and also contributes to the flourishing development of the ecosystem. Jordan, founder of Uxuy, emphasized the importance of the benign interaction between underlying technology and users and developers for the vitality of the ecosystem.

Finally, Iris pointed out that Orbiter has rapidly evolved from a single bridging business to an ecosystem infrastructure provider. By connecting the BTC ecosystem, Orbiter has further realized this vision. Currently, Orbiter's aggregated signature zkp generation speed has reached once every 16 seconds, and in the future, it will provide developers with various full-chain APIs and reduce the interaction threshold for users in the multi-chain era through the AA scheme, becoming a true real-time communication layer for multiple chains, connecting all networks, and driving the adoption of large-scale blockchains.

As an important participant in the Hong Kong Web3 force, Orbiter Finance is committed to building and leveraging the influence of blockchain in Hong Kong. As the center of the Asian blockchain, Hong Kong's geographical location, financial system, and atmosphere of technological innovation make it an ideal base for Orbiter. Orbiter will continue to expand its technology and ecosystem in Hong Kong, promote the popularization and application of blockchain, influence more people, and inspire innovation. Orbiter believes that through efforts and investment in Hong Kong, it will bring positive driving force to the global development of blockchain, shaping a more open and innovative future.

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