Core, a Layer 2 solution designed to scale Bitcoin transactions, has surpassed $400 million in total value locked (TVL), positioning itself as a leading player in Bitcoin’s scaling ecosystem. This rapid growth highlights the increasing demand for efficient and cost-effective Bitcoin transaction solutions.
Core Takes the Lead in Bitcoin Layer 2 Solutions
Core’s TVL has skyrocketed from near-zero at the start of 2024 to $411 million, surpassing other Bitcoin Layer 2 solutions such as Rootstock and Bitlayer. Core, like other Layer 2 solutions, processes transactions off the main Bitcoin blockchain, allowing for faster and cheaper transactions while still benefiting from Bitcoin’s robust security.
The Future of Bitcoin Layer 2 Scaling
While Core has seen impressive growth, the broader Bitcoin Layer 2 ecosystem still trails behind Ethereum’s scaling solutions in terms of total TVL. Nevertheless, Core’s rise indicates growing interest in Bitcoin scaling technologies, which could drive further innovation and competition in the space.
Source: The Block
