Bitget Wallet, Asia's largest non-custodial Web3 wallet, has announced a new partnership with Bitcoin Layer 2 company B2 Network. The collaboration will give Bitget Wallet's over 15 million global users access to B2 Network's cross-chain transactions directly through Bitget's mobile and browser-based applications.
Bitget Partners with Bitcoin Layer 2 Network B2 to Enable Faster Transactions
By integrating smart contracts into the Bitcoin network, B2 Network serves as a platform for pioneering DeFi, NFT, derivatives, and other applications while leveraging Bitcoin's massive $1.1 trillion market capitalization. As an EVM-compatible Bitcoin Layer 2 solution built on zero-knowledge proofs, B2 Network enhances transaction speeds and expands application possibilities without compromising security.
Specifically, the partnership enables Bitget users to seamlessly conduct cross-chain transactions of BTC assets via B2 Network at faster speeds and lower costs than transacting directly on the Bitcoin blockchain. Users can also participate in B2 Network's airdrop programs through their Bitget Wallet connection.
"We keep engaging in Bitcoin ecosystem development, support and collaborate with Bitcoin protocols and Layer 2 networks, providing users with new assets and opportunities,” Alvin Kan, the COO of Bitget Wallet, commented on the partnership.
Meet the B² Network Booming Ecosystem! ???????? 80+ ecosystem projects???? 18 categoriesIt's still early, and we warmly welcome more partners on board! Thanks to all partners for building the ecosystem together! pic.twitter.com/NZt2Dcgkud
— B² Network | BTC Layer2 (@BSquaredNetwork) February 11, 2024
Bitget’s Recent Updates
The collaboration represents Bitget's ongoing efforts to systematically expand support for the wider Bitcoin ecosystem within its wallet platform. Recently, Bitget integrated over 20 other Bitcoin projects, added support for BRC20 and ARC20 transaction formats, upgraded its Launchpad to enable BRC20 token offerings, and connected to the Bitcoin Lightning Network.
With robust connectivity across hundreds of decentralized exchanges and cross-chain bridges, Bitget Wallet provides access to swaps, market data, and other features across more than 100 different blockchains.
In early February, the company appointed a new Chief Operating Officer, Alvin Kan, to boost global expansion plans.
Last month, Bitget enhanced its platform's wallet security by implementing Multi-Party Computation technology. This advancement utilizes distributed computing, homomorphic encryption, and Trusted Execution Environments to bolster wallet protection. Furthermore, the Web3 cryptocurrency wallet introduced a new "Smart Money" functionality, leveraging artificial intelligence to monitor activity from 6,000 "crypto whales" across Ethereum and Bitcoin networks. This feature aims to unearth potential trading opportunities.
In addition, Bitget has outlined a comprehensive approach focusing on enhancing product development, research, and investment efforts. This strategy aims to provide its users with sophisticated trading options and an improved asset management experience in the Bitcoin domain.
This article was written by Damian Chmiel at www.financemagnates.com.
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