Bitlayer launches Bitcoin cross chain bridge BitVM on the main website

According to Cointelegraph, Bitlayer, a Bitcoin DeFi infrastructure invested by traditional asset management giant Franklin Templeton, announced the main online smart contract cross chain bridge BitVM. This scheme allows users to lock Bitcoin into smart contracts and convert it into a cross chain interactive encapsulated asset Peg BTC (YBTC), which has been integrated with networks such as Sui, Base, and Arbitrarum. Bitlayer stated that the bridging scheme adopts a single signature verification mechanism to optimize security, aiming to bring native BTC liquidity into the smart contract ecosystem without changing the underlying protocol of Bitcoin.