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GLOBAL – Elastos has launched BeL2, a layer 2 solution that aims to equip the Bitcoin network with smart contract capabilities. This innovation, presented by Sasha Mitchel and Jonathan Hargreaves, is designed to facilitate advanced transactions and provide users with the ability to stake Bitcoin assets directly. The introduction of BeL2 is expected to activate around $700 billion of dormant reserves.
BeL2 stands out by eliminating the need for intermediaries such as parallel chains. This approach aims to streamline transaction execution and increase transparency in business relationships. This technology is a strategic part of Elastos’ broader Smart Web vision, which prioritizes user privacy and security of ownership of digital assets, and aims to transform infrastructure current internet.
The implications of BeL2 are significant and far-reaching. It is poised to make a substantial impact across various industries, including financial services, entertainment, and real-world asset (RWA) markets. By enabling “Bitcoin-native” smart contracts, Elastos not only improves the functionality of Bitcoin, but can also reshape the way digital transactions and asset management are carried out across many industries.
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