Conflux (CFX) Builds Layer-2 Solution for Bitcoin, EVM Compatibility
Conflux Network (CFX), a layer-1 blockchain, has announced its latest initiative: a layer-2 solution for Bitcoin that supports Ethereum Virtual Machine (EVM) compatibility.
On the evening of January 18, Conflux revealed plans for a new layer-2 solution aimed at Bitcoin, enabling compatibility with Ethereum's EVM. The testnet for this layer-2 solution is slated for deployment in February or March, with expectations for the mainnet launch by May.
Exciting news! Conflux is breaking new ground with a fully EVM-compatible space powered by BTC! https://t.co/Un8WzaTjh9
🚀 Conflux is launching an EVM-compatible Bitcoin Layer 2.
💰 BTC will be the native currency for gas fee calculations.
🌉 Bridge diverse asset types from the…
— Conflux Network Official (@Conflux_Network) January 18, 2024
The layer-2 solution will facilitate the transfer of BTC and token ordinals/inscriptions between Conflux and the Bitcoin network, with ambitions to support other ordinals emerging from ecosystems like Avalanche towards the end of 2023.
Big news! Introducing the new frontier of Conflux: a fully EVM-compatible space powered by BTC!https://t.co/Un8WzaTjh9
— Conflux Network Official (@Conflux_Network) January 18, 2024
🚀 Conflux is launching an EVM-compatible Bitcoin Layer 2.
💰 BTC will be the native currency for gas fee calculations.
🌉 Bridge diverse asset types from the…
Conflux is renowned for integrating Proof-of-Work and Proof-of-Stake consensus mechanisms. The new layer-2 will operate on this protocol layer, utilizing BTC as the transaction fee token.
Following the announcement of Conflux's layer-2 development for Bitcoin, CFX token prices surged by over 12%.
Chart: 1-hour CFX/USDT on Binance as of 10:50 PM, January 18, 2024
