What is B² Network? Information about B2 Network Token

What is B² Network?

B² Network or Bsquared Network is a Layer 2 solution for Bitcoin designed to enhance transaction speed and expand application diversity while maintaining security.

By leveraging rollup technology, B² Network provides a platform capable of running Turing-complete smart contracts for off-chain transactions, increasing transaction efficiency and reducing costs. Additionally, zero-knowledge proof technology combined with gate commitment and challenge-response mechanisms of Taproot ensures transaction privacy and security when confirming on Bitcoin.

The network’s goal is to transform Bitcoin into a versatile platform, paving the way for advanced applications such as DeFi, NFTs, and other decentralized systems. Overall, B² Network represents a harmonious advancement, upholding Bitcoin’s core values while guiding the future of digital assets.

Related: What is Bitcoin Layer 2? The Top 5 Most Notable Bitcoin Layer2 Projects Right Now

Architecture of B² Network

The architecture of B² Network consists of two main layers: Rollup Layer and Data Availability Layer.

Rollup Layer:
The Rollup Layer handles computation, storage, and state transition of transactions. It processes off-chain transactions and allows for bundling multiple transactions into a batch and transferring the state root to L1, thereby increasing transaction throughput (TPS) and reducing costs.

Data Availability Layer (DA Layer):
The DA Layer ensures nodes can access and verify transaction data from the Rollup Layer within a specific timeframe. It allows authorized parties to access data when needed.

In summary, with the combination of the Rollup Layer and DA Layer, the operation process of B² Network proceeds as follows:

• Transaction processing
• Validity verification
• Data storage
• Data verification
• Transaction recording

Products of B² Network

B² Network offers the following products:

• Buzz: A program encouraging users to use B2 tokens to experience other dApps and increase rewards.
• Honey: A feature aimed at earning rewards for B2 Token holders.
• Hive: A feature that allows users to stake BTC tokens to receive B2 tokens as rewards.
• Blockheadz: An NFT collection with a total supply of 10,000 units.
• Bridge: A feature that enables users to convert BTC tokens from various networks to B² Network.

Highlights of B² Network

B² Network has several notable advantages:

• Cheaper and faster: B² Network is 50 times cheaper and 300 times faster than the Bitcoin network, allowing for lower-cost and faster transactions.
• Easy access: Users can access B² Network through popular wallets such as MetaMask, Unisat, OKX Wallet, Xverse, Leather, etc.
• Easy Dapp development and migration: B² Network provides comprehensive tools for users and developers to build and migrate Dapps from EVM-compatible chains to the B² network.
• DA layer for Bitcoin: B² Network allows ZK-Rollup solutions to use Bitcoin as a payment layer through B² Hub, reducing transaction congestion and expanding network usability.

Team

Updating

Investors

On January 25, 2024, the project completed its Seed round with participation from Haskey Capital, OKX Ventures, Kucoin Labs, IDG Capital, ABCDE Capital, but the investment amount was not disclosed.

Ecosystem of B² Network

B² Network has a rich ecosystem including Dex, Defi, Gamefi, wallets, and more.

What is B2 Token?

Currently, there is no official information about B2 Token. Information will be updated as soon as B2 officially TGE.

Roadmap

It is expected that B² Network will officially TGE B2 Token in August 2024.

Similar Projects

B² Network is a Layer 2 solution for Bitcoin, similar to Merlin chain and Stacks.

Project Information Channels

• https://x.com/BsquaredNetworkWeb
• https://x.com/BsquaredNetworkTwitter
• https://discord.com/invite/bsquarednetworkDiscord :

Conclusion

B² Network brings significant potential and new opportunities, especially in improving transaction efficiency and security on the Bitcoin platform. It is an important step forward in developing decentralized applications and advanced blockchain systems.

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