Merge-mined with Bitcoin, Elastos is at the forefront of SmartWeb development and features a BTCFi protocol.
Elastos, founded in 2017 and building on a vision from 2000, is a blockchain-powered internet version. Its recent breakthrough is the introduction of BeL2, a Layer 2 solution leveraging SmartWeb technology to revolutionize Bitcoin transactions. Elastos is using SmartWeb technology to build the Bitcoin second-layer network BeL2, which extends the efficiency and scalability of the Bitcoin network through smart contracts. This endeavor will enable Bitcoin to power a smart economy and effectively release the liquidity of hundreds of billions of dollars in staked Bitcoin assets.
With over 50% of Bitcoin's hash power protecting it through merged mining, ELA boasts extremely high security and credibility in its network, earning it the esteemed title of "BTC Queen" within the community.
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