News and analysis on encrypted currencies, Blockchain and decentralized financing

Elastos Get 20 million dollars In financing to develop Bel2, a protocol aimed at integrating Defi services on Bitcoin Blockchain. The project intends to take advantage of the safety and liquidity of the network to create the decentralized financial sector.

A new batch of decentralized financing on bitcoin

Bitcoin and Defi: The new border of Elastos

Bitcoin is the standard of encrypted currencies due to security and decentralization. However, unlike Ethereum, it was not an ideal environmental system for decentralization (Defi) so far.

Projects Like elastos trying to fill this gap, creating solutions that make Bitcoin a More functional Advanced financial applications platform.

Elastos, a decentralized infrastructure provider in Blockchain, has announced that it had raised $ 20 million to expand BEL2, a protocol designed to serve as a benefit layer on Bitcoin.

This financing was obtained by the investment company Rolesan administration It will be used to implement new DEFI solutions based on Bitcoin.

BEL2 has been developed to supply Bitcoin users to access smart contract services without having to leave the main network safety.

Thanks to this protocol, BTC holders will be able to guarantee their assets directly in compatible wallet ethereum.

The BEL2 structure allows the merits of the main elements of decentralized financing Without compromise Bitcoin’s durability.

The protocol benefits from merge mining, a process that allows mine workers ’work to extract multiple cryptocurrencies at one time without consuming additional resources.

In this way, Elastos aims to create a file The ecosystem is self -sufficiency This benefits from the safety of bitcoin and the elasticity of smart contracts.

The importance of liquidity and security in Devi

One of the main obstacles that prevented the development of Defi on Bitcoin was the limited support for complex transactions.

Unlike ETHEREUM, which was built from the beginning to support smart contracts, Bitcoin has always been more focused on a valuable store job. However, Defi requires two basic elements: Liquidity and security.

Bitcoin offers each of these properties. With the market value of more than $ 2 trillion, it represents the main digital asset available for decentralized financing.

Moreover, its network is the safest among all the list BlockchainWhich makes it an ideal basis for developing new financial applications.

Elastos projects are trying to take advantage of these capabilities to attract developers and investors in the Defi sector on Bitcoin.

The ability to integrate advanced financial tools on the original Blockchain can lead to a revolution in the market, which opens new opportunities for users and companies.

The Blockchain industry is witnessing an increasing competition between Defi platforms, with many projects that seek to take advantage of a huge amount of closed capital in Bitcoin.

Besides Elastos, other initiatives make Bitcoin Ease For Defi applications.

An advanced ecosystem

BEL2’s success depends on the protocol’s ability to attract users and developers, with a guarantee Security and expansion.

It can make the ability to get rid of stablecoin, access to decentralized lending tools, interact with Bitcoin smart contracts as a leading player in Defi, equally with ETHEREUM.

In other words, Elastos took an important step towards the expansion of Defi on Bitcoin, and raised $ 20 million to develop Bel2.

The protocol aims to create an infrastructure that allows users to take advantage of Bitcoin safety without giving up flexibility The decentralized financing.

If it succeeds, this project can represent a turning point for the entire sector, which paves the way for a new era of Defi based on the safest Blockchain.