BEVM

BEVM project overview

• Project concept
• Team
• Investors
• Token Utility & Tokenomics
• Social networks & links

Bitcoin was originally conceived as a decentralized and secure payment system. However, as the industry grew in popularity and matured, the first cryptocurrency faced serious limitations in scaling and the ability to develop new blockchain use cases.

The average block creation time of 10 minutes and throughput of seven transactions per second (TPS) cannot cope with the load during periods of peak activity. This leads to increased fees and significant delays in transaction processing.

Limitations of the Script language, the programming language in which the Bitcoin blockchain is written, have prevented the development of complex smart contracts and decentralized applications on this network. In response to this, the concept of second-layer networks for the first cryptocurrency arose.

What are L2 solutions on Bitcoin?

Layer 2 solutions for Bitcoin are protocols built on top of the main blockchain, designed to expand its capabilities and improve network performance. L2 solutions process transactions beyond the base (first) layer, reducing the load on it and providing a number of advantages:

• increased scalability
• advanced programmability
• significant potential to support decentralized applications (dApps)

They also contribute to the development and expansion of the Bitcoin ecosystem.

Therefore, second-layer solutions are extremely important for the development of the Bitcoin ecosystem. They address key challenges and create new opportunities for mass adoption of cryptocurrencies.
This is exactly what the new large-scale project is.

New Flagship L2 on Bitcoin: BEVM

Using Taproot consensus, Schnorr signatures, MAST contracts and the Bitcoin Light Node Network, BEVM achieves the highest level of decentralization and security of any BTC Layer 2 solution.

Let's figure out what this means and what makes BEVM technology unique.

Taproot Consensus = Schnorr Signature + MAST Contract + Bitcoin Light Node Network

• Schnorr signature is a cryptographic signature method that is used to verify the sender and the integrity of messages on the blockchain. It allows you to create signatures that are simpler and less expensive in terms of size compared to traditional signatures used in Bitcoin. The peculiarity of the Schnorr signature is the ability to combine several signatures into one, which makes it ideal for multi-signature transactions and improves the scalability and confidentiality of the network. BEVM combines up to 1000 signatures into one to achieve scalability and decentralization.
• MAST contract (Merkelized Abstract Syntax Trees) is a blockchain technology that allows complex transaction terms to be simplified and made more private. This is achieved by combining many possible transaction execution conditions into one structure. MAST allows network participants to verify only those terms that are actually used in a transaction, thereby increasing the efficiency and privacy of the blockchain. The BEVM team has implemented multi-signature management coding that no longer requires human signatures but relies on code management instead.
• The Bitcoin Light Node Network is a simplified version of the nodes in the Bitcoin network that require fewer resources to operate. Unlike full nodes, light nodes do not store a complete copy of the blockchain but only use the necessary information to verify transactions. This makes them more accessible to devices with limited computing power and helps expand the network, increasing its decentralization and efficiency.

All these technologies formed the basis of the Taproot Consensus, a technological improvement in the Bitcoin blockchain. It includes more efficient use of space and privacy. Taproot makes it easier to create and use smart contracts and multisigs on the Bitcoin platform, making them more secure and less visible on the blockchain.

BEVM is the most original, innovative and creative layer 2 solution for Bitcoin today.

Key features of BEVM:

• Native L2 Blockchain for BTC: BEVM uses BTC as gas and stores transaction data on the BTC mainnet, providing compatibility with the original Bitcoin protocol, driving innovation and activity in the ecosystem
• Decentralization: A Fully Decentralized Solution for Bitcoin Layer 2
• EVM compatibility and enhanced functionality: This means developers can seamlessly migrate their decentralized applications built on the Ethereum Virtual Machine to BEVM, expanding the scope of these applications in the Bitcoin ecosystem
• Innovative incentives and economic model: 7 years of experience in ecosystem development and the best partners in the crypto industry, such as Binance

BEVM is a project at a high stage of readiness: mainnet has been launched

The ecosystem is developing rapidly:

• Working DeFi applications have already been launched on the BEVM network: DEX exchange, landing protocols, exchanger, asset insurance.
• Integration with wallets works: Binance Wallet, TokenPocket, OKX exchange wallet.
• As many as 5 working bridges through which you can transfer your assets to the blockchain.
• There is an NFT Marketplace, a launch pool, GameFi and SocialFi projects are coming out and much more.

Binance Wallet and BEVM

BEVM is the first and only L2 BTC currently partnering with Binance Wallet.

The BEVM project has allocated 0.5% of the total supply of tokens for the open airdrop.
This is the first time that Binance Wallet has partnered with Bitcoin L2 to launch a token airdrop, seeing great promise in BEVM.

Team

An experienced team of developers with a solid background of working projects behind them, based in Singapore.

The team has been developing advanced technologies for the Bitcoin ecosystem for the last 7 years and before the implementation of the BEVM project, they created the original L2 solution Taproot Consensus Bitcoin, as well as the financial blockchain of crypto assets ChainX.

• Its co-founder Gavin Guo previously participated in the research and development of digital currency for one of the central banks and wrote the first working demo version of a central bank digital currency (CBDC) based on the Bitcoin and Ethereum blockchains in 2016. In 2017, he wrote the code for the famous public network Bytom. At the end of 2017 he left Bytom and founded the current BEVM team.
  In 2018, Gavin launched ChainX, a BTC L2 solution based on Polkadot.
  In 2021, based on the Bitcoin Taproot update, a new BTC L2 solution was developed - Taproot Consensus Bitcoin.
• Peter M Moricz — the second founder of BEVM, previously worked as a futures market trader in London and Rotterdam. Former Vice President of Compliance at JP Morgan Private Bank in London.
  Engaged in blockchain technologies since 2014. As Director of Strategy at the Brussels-based company CoinFabric, he advised many projects in the world of cryptocurrencies.

An established team that has been working for a long time and has been participating in crypto conferences for many years. Recognizable in the BTC community. An example of the latest panel discussion at the crypto conference in Dubai on April 20, where they are one of the organizers and key speakers:

Investors

Strong investor team which can be divided into two parts:
Bitcoin-focused funds such as ViaBTC Capital, Waterdrip Capital, Satoshi Labs, as well as Web3 European and American funds including Rocktree Capital, Cogitent Ventures, MH Ventures, ArkStream Capital and others.

• ViaBTC — largest mining pool and cryptocurrency exchange.
  It has its own investment division, ViaBTC Capital, which specializes in investing in Bitcoin infrastructure but is not limited with the BTC ecosystem.
  The investment fund's portfolio includes: Arbitrum, Merlin Chain, Port3, ZeroLend and others.
• Waterdrip Capital — is a fairly well-known Chinese venture fund, founded in 2017, specializes in the crypto industry, has invested in more than 150 blockchain projects, and actively supports the development of the Bitcoin ecosystem. An influential fund with extensive media connections in Southeast Asia will help our project enter the market of this region and receive attention from Cointelegraph Chinese, Bitwires, Lichang and other popular media resources in China.
  The fund has a solid portfolio and has invested in Polkadot, Cosmos, Filecoin, TheGraph, Casper, Raydium and others.
• Rocktree Capital — is a well-known cryptocurrency investment company in the United States, headed by Omer Ozden, a well-known entrepreneur who has influential connections in the financial circles of China and the United States. Ozden is known for his work with the Zhen Fund and legal advice for Facebook (now Meta) and his company have invested in a number of leading crypto projects and have strong capabilities in investing and supporting startups. Their creative website in the style of metaverses is noteworthy.

In addition to Rocktree Capital, it is worth noting Mapleblock which has invested in such well-known projects as the Polyhedra Network platform, the DAO Maker launchpad incubator, centralized exchanges Kraken and Huobi; Akstream Capital has invested in well-known projects such as: AAVE, Flow, Manta and Particle; MH Ventures has invested in the Celestia and Sei Network blockchains.

It's important to notice that together with MH Ventures and Cogitent Ventrures we invested in the Entangle project, which gave 80x of the listing price.

Token utility

$BEVM tokens are a key element of the ecosystem; they perform several important functions and are used:

1. As a governance token: token holders can influence the development of the project and vote on new initiatives. Gives owners the right to vote on network protocols, products, new functionality, updates and maintenance.
2. For staking: Token holders are incentivized to stake their tokens to secure the network and receive rewards from protocol revenue.

Tokenomics

• Token: $BEVM
• Our round: Series A
• Token price: $0.095
• Conditions: 10% unlock on TGE, 6 months cliff, then linear unlock for 2 years
• TGE is planned for October 2024
• IDO: negotiations are underway with DAO Maker and Coinlist launchpads

Social networks, links:

🌐 Website: https://www.bevm.io/

🐦 Twitter: https://twitter.com/BTClayer2

💻 Discord: https://discord.com/invite/AGcRqkTBAV

💻 Medium: https://medium.com/@BTClayer2

💻 Blog: https://bevm-blog.webflow.io/

💻 Github: https://github.com/btclayer2/BEVM

💻 Explorer: https://scan.bevm.io/

Social the networks of this project deserve special attention: BEVM is a very popular project, the community of which exceeds half a million subscribers! There are 257 thousand members on Twitter, 260 thousand members on Discord and all this in less than a year - great marketing activity!

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