Coinspeaker
Elastos Floats Bitcoin Layer 2 Offering to Maximize BTC Staking Demand
Blockchain network Elastos may have devised a strategy to take advantage of the current high demand for Bitcoin (BTC) staking on its platform. This follows after it launched BeL2, a Bitcoin layer-2 network, in a supposed effort to retain the billions of dollars in BTC volumes that currently flow from the staking tools it offers.
According to Elastos developers, BeL2 is an upgrade to the base Bitcoin blockchain. And that is especially true in the way that it permits more sophisticated Bitcoin transactions such as smart contracts and irreversible digital agreements.
Meanwhile, Sasha Mitchel, head of strategy at BeL2, has hailed the new launch. Mitchel noted that it has always been odd that Bitcoin reserves are usually ‘dormant’ during transactions. “However, all that is about to change given that the arrival of BeL2 is expected to make Bitcoin smart,” he added.
With the BeL2, smart contracts can be
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