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LayerEdge: The Future of BTCFi with Programmability

Published

6 months ago

on

Singapore, 16th May 2024, ZEX PR WIRE, Bitcoin came into existence to overcome the fundamental flaws in the trust-based architecture and create an ecosystem based on cryptographic proof. Although Bitcoin’s ethos emphasizes its use cases as a peer-to-peer commodity for a trustless ecosystem, it lacks programmability — limiting its adoption for decentralized financial utilities. Ethereum, on the other hand, boosted the adoption with on-chain programmability enabling a trustless ecosystem.

Post Bitcoin’s Taproot upgrade, the ecosystem has seen significant development around the Bitcoin L2’s — providing a scalable and cost-efficient channel for developers and users to engage without paying high gas fees, and allowing to tap into high liquidity. This solidifies the notion that BTCFi isn’t just a fluke, but can truly drive adoption.

Even though Bitcoin L2 fixes the programmability problem, enabling a trustless setup and smooth flow of liquidity — security and adoption remains a major concern.

Introducing LayerEdge, a Programmability Layer inheriting Bitcoin’s native security for network operations, allowing for faster and cheaper network operations with Optimistic Rollups while providing an EVM friendly developer environment — amplifying the use of Bitcoin’s native assets like conventional commodities.

With LayerEdge, unlock the true potential while still being aligned to Bitcoin’s ethos of a secure and trustless financial system.

Head to the Origin — LayerEdge

LayerEdge, a Programmability Layer for the Bitcoin Ecosystem enables faster and cheaper network operations while leveraging Bitcoin’s native security — amplying DeFi applications for Bitcoin native across a wider network with EVM compatibility. To top it off, our Hybrid Modular DA enables native verification of data on the Bitcoin network.

With LayerEdge, reimagine the Bitcoin ecosystem with boosted utilities, native security, and programmability.

Natively Secure

LayerEdge leverages Bitcoin’s native infrastructure and bundles the transaction on top of it, providing one of the most secure systems. Presently, POS chains rely on developing their own validators internally. While on the other hand, LayerEdge acts as an execution layer, utilizing Bitcoin for settlement.

Near-Zero Gas Fees

LayerEdge utilizes optimistic rollup, enabling us to operate the network even with just one honest validator. This approach enables LayerEdge to achieve nearly zero gas fees, all while maintaining security level similar to Bitcoin’s Native Security.

Programmability — EVM Compatible

With EVM compatible, LayerEdge offers programmability and smooth user experience to boost developer adoption — allowing projects to tap into liquidity and enable utility for Bitcoin’s Native Assets.

LayerEdge deBridge — Trust-minimised Bridge for Bitcoin & Inscriptions

LayerEdge’s deBridge allows users to bridge their native assets from Bitcoin to LayerEdge ecosystem securely without having the funds to be stored with any single entity.

This opens up a utility layer for vaster adoption of Bitcoin’s Native Assets and Inscriptions like Runes — enabling yield generation and use case across the DeFi ecosystem.

Under the hood

LayerEdge employs a federated multi-party computation (MPC) approach to manage the key used for validating bridging requests, ensuring no single entity controls the critical signing key. The MPC key is generated through a secure ceremony involving multiple relayer agents, with the key never assembled entirely in one place, preventing single points of failure.

Rather than relying on multi-sig or other traditional methods, LayerEdge’s relayers participate in the MPC ceremony for each bridging event, enabling distributed computation on secret inputs without revealing outputs. LayerEdge’s federated MPC system distributes control of the signing key, bolstering the integrity of the bridge and providing a secure foundation for cross-chain transactions and data transfers.

LayerEdge’s Hybrid Modular DA

Bitcoin is inherently designed to carry out transactions, not for data storage. Attempting to use Bitcoin as a DA solution would lead to high fees and slower confirmation times due to limited block space. This approach is impractical for rollups and creates a bottleneck in delivering a satisfactory user experience.

Thus, the necessity arises for a DA capable of interfacing with Bitcoin, and existing DAs meet this need — saving time and effort. LayerEdge enables integration with these DAs, establishing a connectivity layer with the Bitcoin network.

With LayerEdge’s Hybrid Modular DA, any existing DA can function as a Bitcoin DA, enabling modularity. This means that any Bitcoin Layer 2 rollup network can then utilize Bitcoin’s security features.

Under the hood

The Hybrid DA stores block data on existing Data Availability (DA) Layers and posts its state proof on Bitcoin. This functions as a reliable verification mechanism, as the state proof acts as a cryptographic commitment to the entire block data.

By posting the state proof to Bitcoin, the robust security and decentralization of Bitcoin can be leveraged to provide a trustless means of verifying the integrity of the data stored on the DA Layer.

LayerEdge’s Hybrid DA Layer approach significantly reduces block time and increases finality. While Bitcoin has a 10-minute block time, layerEdge’s Hybrid DA aims for a 12–20 second block time — making it 100x faster. This rapid finality provides –

1) Efficiency: Faster block times allow the network to process transactions and execute smart contracts more efficiently, improving the overall user experience.

2) Responsiveness: The quick finality enables more responsive and interactive applications to be built on top of the blockchain, as users don’t have to wait as long for their transactions to be confirmed.

3) Scalability: The faster block times help alleviate some of the scalability challenges faced by Bitcoin, as more transactions can be processed per unit of time.

Future of BTCFi with LayerEdge

The Origin

The Origin stage will focus on deploying LayerEdge’s EVM-compatible Testnet, along with the Testnet EVM Bridge and LayerEdge’s Hybrid Modular DA Testnet.

The Block

The Block stage will focus on deployment and mainnet launch, introducing the Hybrid Modular DA and native Bridge. This allows users to bridge their native assets from Bitcoin, EVM, and various non-EVM ecosystems.

LayerEdge is also building in collaboration, an MPC-based bridge for Bitcoin — enabling a secure and seamless bridge for native assets like BTC, Inscriptions, BRC20, Runes, and more with multiple trusted Relayers, with MPC key not being generated at entirety at any single place, with recognized various third-party audits.

The Sequencer

The Sequencer upgrade will facilitate final settlement on the Bitcoin network by migrating sequencers to the Bitcoin network. While more details and updates await, and will be revealed with future announcements.

Conclusion

LayerEdge marks the inception of a hyper-secure and one of the most efficient infrastructures for Bitcoin leveraging optimistic stack and hybrid modular DA approach — enabling trustless verification and rapid transaction finality.

Website | Documentation | Testnet Explorer | Twitter | Medium | Discord | Telegram

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Press Release

UVKXE Releases Anti-Scam Guide, Enhancing User Security Protections

Published

2 days ago

on

November 23, 2024

By

DENVER — Recently, the globally renowned cryptocurrency trading platform UVKXE has published its latest anti-scam guide to address the escalating threats of online scams, establishing a comprehensive protective barrier for users worldwide. The guide focuses on various scamming tactics prevalent in the cryptocurrency sector, highlighting what users should be aware of during transactions and asset management, while also providing effective preventive measures.

Kevin Anderson, CEO of UVKXE, noted: “As the cryptocurrency market continues to expand, more cybercriminals are turning their attention to cryptocurrency users, developing sophisticated scam techniques. As a well-known platform in the cryptocurrency trading field, UVKXE has a responsibility to help users identify and mitigate these potential risks. Through the release of this anti-scam guide, we aim to further enhance user awareness and safeguard their digital asset security.”

The guide outlines the common characteristics of these scams, such as phishing emails that typically use UVKXE or similar official-sounding names, along with forged logos and links, to deceive users into providing their login credentials and sensitive information. It also advises users to always choose official channels when downloading applications to avoid malicious software. Furthermore, UVKXE emphasizes that the platform will never proactively request users to provide sensitive information such as passwords or verification codes in any form.

In addition to the anti-scam guide, UVKXE will launch a series of interactive activities, utilizing community forums and video tutorials to educate users about safety knowledge and help them recognize and respond to potential threats. The UVKXE security team stated that these activities will not only provide real-time updates on scams but also offer users opportunities for direct communication and inquiries.

The investment in technology and education is reflected not only in the publication of the anti-scam guide but also in daily operations and maintenance. Kevin Anderson concluded: “Every protective measure and security technology implemented by UVKXE is designed to ensure the safety of user assets. In the future, we will continue to advance this mission, providing users with safer and more convenient cryptocurrency trading services.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

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Press Release

UVKXE Clarification Statement: A Legally Compliant Trading Platform with International Accreditation

Published

2 days ago

on

November 23, 2024

By

DENVER — Recently, the Securities Commission Malaysia (SC) published a list on its official website of cryptocurrency trading platforms that have not met its local registration requirements, mentioning UVKXE. UVKXE takes this matter seriously and wishes to clarify its credentials and compliance status to its users.

Global Compliance Credentials of UVKXE

UVKXE is committed to operating under legal and compliant principles, upholding a user-first core value. The platform has obtained several certifications from international authoritative regulatory bodies, including but not limited to:

U.S. MSB License
UVKXE has obtained the MSB license issued by the U.S. FinCEN. This certification represents the highest recognition by the U.S. government for financial service institutions, ensuring that UVKXE can legally conduct cryptocurrency-related business.

U.S. SEC License
As one of the few cryptocurrency trading platforms registered with the U.S. Securities and Exchange Commission (SEC), UVKXE complies with securities and investment-related legal regulations, providing users with a safer and more transparent investment environment.

Background on the Malaysian Public List

The list published by the Securities Commission Malaysia mainly targets trading platforms that have not met local registration requirements, such as Binance and Bursa Malaysia, rather than denying the platform legality. UVKXE has obtained multiple authoritative licenses internationally, and its compliance is beyond doubt. UVKXE is in communication with relevant departments to understand local specific regulations and to advance the registration process, ensuring compliance with local market requirements.

Commitment to Legal Compliance and User-Centric Values

UVKXE will use this event as an opportunity to further enhance its global compliance framework, actively adapting to regulatory environments in various countries, and providing users with more professional and diversified financial services. We sincerely thank all users for their trust and support! UVKXE promises that no matter where it operates, the platform will always adhere to the core philosophy of “user-first”, moving together with global users towards a safer, more open, and transparent new era of the digital economy.

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

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Cloud PR Wire

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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Press Release

UVKXE Strengthens Security Strategy, Leading Innovations in Anti-Scam Technology for Crypto Platforms

Published

2 days ago

on

November 23, 2024

By

DENVER — Recently, the globally recognized cryptocurrency trading platform UVKXE officially announced the completion of its latest security system upgrade. This upgrade significantly enhances the cybersecurity defenses of the platform and introduces cutting-edge anti-scam technologies. Through this technological update, UVKXE demonstrates its commitment to user asset security and proactive measures against potential future cyber threats.

Kevin Anderson, CEO of UVKXE, stated: “User trust is the foundation of UVKXE, and ensuring the security of user assets is always our top priority. This security system upgrade incorporates AI deep learning, real-time risk control, and efficient anomaly detection algorithms, aiming to create a safe and trustworthy trading environment for users. We will continue to optimize the security measures for user assets, ensuring that every user can trade confidently on UVKXE.”

The focus of this security system upgrade is primarily on anti-scam technologies. In response to the ever-evolving online threats and scam tactics in recent years, UVKXE has strengthened its multi-layered protective mechanisms, effectively enhancing the security and responsiveness of the system. The upgrade introduces AI-driven anti-scam technology, which intelligently analyzes user behavior through deep learning algorithms, allowing for rapid identification and isolation of suspected scamming activities. The AI anti-scam system can monitor and analyze large volumes of trading data in real time, immediately freezing any suspicious transactions or account activities to safeguard user assets.

Kevin Anderson further explained: “Traditional anti-scam methods often rely on post-event analysis, whereas the new system of UVKXE can identify risks promptly before incidents occur, taking immediate action to prevent losses.”

In terms of anomaly detection, the system of UVKXE combines the transaction histories, asset conditions, login locations, and other multidimensional data of users to accurately pinpoint potential security vulnerabilities. Through anomaly detection technology, each user login and transaction can be monitored in real time, with timely alerts prompting users to confirm actions, further enhancing the security of the platform.

Kevin Anderson concluded: “We hope every user can enjoy a secure trading experience on UVKXE. By continually optimizing our security strategies, we aim to provide a safer and more convenient cryptocurrency trading experience for our users.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

About Author

Cloud PR Wire

See author's posts

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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