B² Network (B2): A BTC Layer 2 Leveraging Rollup Tech

Bitcoin might be the biggest blockchain network around, but it's not always easy to use. Its network is known for a variety of congestion and app development issues. B² Network’s Layer 2 solution aims to address these problems by providing a helpful layer of additional features. Though it has the potential to drastically improve Bitcoin, B² Network still has a long way to go. Keep reading to learn about B² Network's journey to improve transaction efficiency and attract more users to its community.

Key Takeaways:

• B² Network is a fully EVM-compatible Bitcoin Layer 2 platform that provides fast and affordable ways to process Bitcoin transactions.

• Its project aims to improve the speed and versatility of the Bitcoin network.

What Is B² Network?

B² Network is a fully Ethereum virtual machine (EVM)-compatible Bitcoin Layer 2 that provides fast and affordable ways to process Bitcoin transactions.

What Does B² Network Aim to Achieve?

B² Network’s Layer 2 solution aims to improve the speed and versatility of the Bitcoin network. Its creators found that Bitcoin's network is reliable and secure, but doesn't work well with modern web3 design. Processing transactions takes longer during periods of high transaction volume, and the network's simple design makes it difficult to run complex decentralized applications (DApps).

B² Network chooses to tackle both of these problems with a single design. Its Layer 2 starts by providing scalability so people can process Bitcoin transactions quickly and affordably. In addition to improving transaction efficiency, B² Network also addresses blockchain development, adding EVM compatibility to its network to help make the Bitcoin blockchain more flexible. 

B² Network strives to ensure that developers who run projects on its network can remain compatible with both the Ethereum and Bitcoin ecosystems. 

How Does B² Work?

The core of the B² Network is in its zero-knowledge proofs and optimistic rollups. These two technologies allow B² Network to process user transactions much more quickly than Bitcoin’s ecosystem can. Thanks to zero-knowledge proofs, B² can submit proof that a transaction is accurate without having to copy over all the detailed transaction data. Meanwhile, optimistic rollups bundle multiple transactions together and only require immediate verification if the transaction is suspicious. 

B² Network takes these two mathematical techniques and combines them with its proprietary Layer 2 technology. As a Layer 2 network, B² consists of lines of programming and code that run on top of the Bitcoin network. Its blockchain processes transactions and rollup data on its own chain, but it still uses Bitcoin's methods for handling unspent transaction output (UTXO) and other details, and relies on Bitcoin for security. The network then syncs with Bitcoin to ensure all essential data from B² user transactions is eventually stored as a Bitcoin block.

Features of B² Network

Bitcoin interacts seamlessly with B² Network in a variety of ways. B² Network offers many helpful features that make everyday transactions on Bitcoin more convenient and budget-friendly.

B² Hive

B² Hive is the staking feature of B² Network. Users can stake Bitcoin in order to earn rewards. In addition to receiving B2 tokens as rewards, Bitcoin stakers can also enjoy knowing that they’re helping to secure the network. Stakers on B² Hive provide essential services and help validate B² Network transactions.

B² Buzz

B² Buzz is a yield-earning program designed to attract investors to B² Network. Users can find multiple ways to earn interest from their existing crypto tokens, stake a variety of tokens, add liquidity to pools and lend crypto to others. Some of the many networks supported on B² Buzz include Bitcoin, Ethereum, Tether and USD Coin. Yields are typically calculated in B2 tokens, but B² Network does offer some other ways of cashing out rewards. 

B² Honey

B² Honey is an exciting giveaway system for B² Network community members. The program incentivizes users who participate in community events and process transactions on the network. B² Honey rewards mostly come from gas fees and token airdrops, and can result in many prizes for users.

BlockHeadz

BlockHeadz is an NFT collection made by and stored on the B² Network. It consists of 10,000 unique images of characters with block-shaped heads, and is hosted on both the Bitcoin Mainnet and the B² Network chain.

B2 Tokenomics

B2 is the native token of the entire B² Network. It's used to manage staking rewards, for network fees and more. Since B² Network runs on a proof of stake (PoS) consensus mechanism, B2 holders can also help secure the network and confirm transactions. 

Despite being a fairly important part of the B² Network ecosystem, little is known about the B2 token. B² Network’s white paper doesn’t include any details on token supply or distribution. Though the team has revealed that 30% of the total B2 token supply will be available through the B² Buzz mining program, they haven’t provided any other information regarding tokenomics.

B² Network Road Map

B² Network is still in its early stages. Though it has released its basic data availability layer and started distributing its token, the project still has a lot more planned. It’s currently working to convert its mainnet from a private, community-only form to a public one. After opening its mainnet to the public, B² plans to begin deploying DApps that will run on its mainnet. In the future, the network also hopes to fully launch B2 as a publicly traded token. Ultimately, the plan is to turn B² Network into a complex ecosystem that hosts a variety of DApps and allows developers to build more projects that run on B².

Closing Thoughts

B² Network's combination of zero-proof and optimistic-rollup technology makes it a promising method for improvised transaction throughput on the Bitcoin network. Thanks to B² Network’s thoughtful design, Bitcoin interacts seamlessly with every part of its platform. Though this Layer 2 network still hasn't released all the features it will need to in order to attract an audience, it's already performing very well.

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