Exclusive interview with Bitlayer co-founder: As a second-layer BTC network, what are its core advantages?

Navigation directory

1. Introduction

2. Development of Bitcoin ecosystem

3. Bitlayer project and ecological highlights

4. Experience and gains of different roles

5. Core advantages of Bitlayer

6 . Differences in usage scenarios between Bitcoin and Ethereum

7. Challenges and feelings in entrepreneurship

01. Introduction

Welcome to the Ryze Up column brought by Ryze Labs. Ryze Labs is a bridge connecting East and West. We hope to accelerate the development of Web3 in emerging markets and influence the global Web3 world. Local Insights, Global Impact, let’s set off together, Time to Ryze Up.

The host of this episode

Fred, Ryze Labs Researcher, focuses on expanding the fund’s impact in the Chinese-speaking community and providing ideas and suggestions for the fund’s portfolio companies.

Special guest

Charlie Hu is the co-founder of Bitlayer and has extensive experience in the blockchain industry and a strong professional background. He participated in the first round of investment in Polkadot in 2017, actively promoted the Polkadot project in China, established the PolkaBase brand, and supported the success of multiple Polkadot projects. Join the Polygon official team in 2021 to lead the ecological development in the Asia-Pacific region. In 2022, he co-founded Bitlayer with his partner Kevin, focusing on Bitcoin's second-layer expansion plan and infrastructure construction.

02. Development of Bitcoin Ecosystem

The Bitcoin ecosystem is developing rapidly, especially after the Inscription Summit, many new assets and opportunities have emerged. The Inscription Summit revealed the huge potential of Bitcoin in the field of digital assets, attracting the attention of a large number of developers and investors. As digital gold, Bitcoin’s decentralized and censorship-resistant features make it highly trusted and valued around the world. In the DeFi space, Bitcoin has also shown great potential, especially in asset management, lending and liquidity provision. Charlie Hu believes that Bitcoin’s development in the DeFi field will bring more innovation and growth opportunities to its ecosystem.

03, Bitlayer Project and Ecological Highlights

The Bitlayer project was co-founded by Charlie Hu and his partner Kevin, aiming to solve the expansion problem in the Bitcoin ecosystem. The project has developed rapidly, has completed seed round financing, and attracted the attention of many internationally renowned investment institutions. There are many excellent projects in the Bitlayer ecosystem, such as Avalon Finance and Vanilla Finance. Avalon Finance is a Bitcoin-native lending project that achieves high capital utilization and rapid growth by combining Bitcoin assets and smart contracts. Vanilla Finance is a low-threshold guessing project that combines the free market logic of Bitcoin and attracts a large number of users to participate. In the future, Bitlayer plans to further expand its ecosystem, support more developers and application scenarios, and promote the development of the Bitcoin ecosystem.

04. Experience and gains from different roles

In the blockchain industry, different roles bring different experiences and gains. As a project developer, investor and entrepreneur, Charlie Hu emphasized the importance of international teamwork and shared the skills and experience accumulated in different roles. He believes that technical understanding and innovative thinking are crucial in ecological construction, and these are the core capabilities he applies in the Bitlayer project. His past experiences have tempered his thoughts on developer support and ecological construction, allowing him to have more careful thinking and effective execution in ecological support and activities.

05. Core advantages of Bitlayer

The existing Bitcoin expansion solution has many shortcomings and cannot meet the needs of large-scale commercial applications. By introducing new technologies and solutions, Bitlayer achieves the safe and equivalent expansion of Bitcoin and avoids the security risks of traditional side chains. Its core technologies include Bitcoin's second-layer expansion and trustless cross-chain asset solutions, which bring new development opportunities to the Bitcoin ecosystem. Bitlayer has significant advantages in technology and security. By being compatible with EVM and multiple VMs, Bitlayer can attract more Ethereum developers to join and promote the development of the Bitcoin ecosystem. In addition, Bitlayer's trustless cross-chain solution greatly reduces security risks and improves users' trust in cross-chain assets. Its innovative expansion technology also provides strong support for the sustainable development of the Bitcoin ecosystem.

06. Differences in usage scenarios between Bitcoin and Ethereum

Bitcoin and Ethereum have significant differences in security, decentralization and usage scenarios. As a more secure and decentralized digital asset, Bitcoin is mainly used for value storage and transactions. Ethereum, on the other hand, is widely used in various decentralized applications and DeFi projects because of its smart contracts and Turing completeness. The differences in user needs and application scenarios also determine the differences between the two in ecological construction. Bitcoin users are more concerned about security and stability, while Ethereum users are more concerned about asset growth and transaction speed. This difference gives Bitcoin an advantage in terms of security and long-term stable returns, while Ethereum is more competitive in terms of fast transactions and innovative applications.

07. Challenges and feelings in entrepreneurship

During the entrepreneurship process, Charlie Hu faced many challenges, including pressure in team management, business development and marketing. Compared with investment, entrepreneurship requires more multi-faceted abilities and a higher sense of responsibility. Charlie Hu emphasized that entrepreneurship not only requires technical and business capabilities, but also good management and teamwork to cope with the changing market environment and competitive pressure. During the entrepreneurial process, he also needs to do a lot of work in international team and market development to ensure the continued development of Bitlayer. Charlie Hu shared his experience in managing a small team to a large team during the entrepreneurial process. How to maintain team culture and deal with various challenges are important lessons he learned during the entrepreneurial process.

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