Blockchain

Bitfinity EVM Launches Bitcoin Layer 2 with Runes Support

The Internet Computer-based Bitfinity platform introduces its Ethereum Virtual Machine, facilitating smart contract execution for Bitcoin protocols and enabling Bitcoin DeFi applications with Runes support.

Built on the Internet Computer protocol, Bitfinity integrates with the Bitcoin network, offering asset bridging to other blockchains. Leveraging Ethereum’s smart contract language Solidity, developers can access Bitcoin-based tokens, including BTC, Ordinals, and Runes.

The Bitfinity EVM enables the deployment of Bitcoin-based Solidity smart contracts, expanding functionality for transferring assets. As an Ethereum Virtual Machine, it serves as the backbone for executing smart contracts, akin to an operating system for Ethereum.

With Runes gaining traction since its launch alongside the Bitcoin halving event, Bitfinity aims to tap into this momentum by enabling smart contract capabilities, facilitating the development of Bitcoin DeFi applications. Despite a initial surge in activity, Runes’ network fees have stabilized following the launch frenzy.

Featured Image: Freepik

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