Bitcoin currently operates significantly slower than networks like Solana and lacks native support for decentralized applications. Bitcoin Hyper addresses these limitations by constructing a new Layer 2 solution and incorporating the Solana Virtual Machine, potentially transforming the Bitcoin ecosystem with enhanced scalability, speed, and Web3 compatibility.
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The platform offers straightforward usability through a simple deposit process. Users can send Bitcoin to a verified address connected to the canonical bridge, which then creates an equivalent amount of wrapped Bitcoin tokens on the Layer 2 network. These wrapped tokens maintain full Layer 2 compatibility, enabling interaction with various decentralized applications including high-speed DeFi trading platforms, lending and staking protocols, NFT marketplaces, and blockchain gaming applications.
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