Introducing a Layer 2 Framework for Faster Transactions

A new project, Bitcoin Hyper, is developing a Layer 2 scaling solution designed to address Bitcoin’s historical challenges with transaction speed and cost. By building on top of the main Bitcoin network, the project aims to enable faster payments, support decentralized applications (DApps), and facilitate the creation of assets like meme coins within the Bitcoin ecosystem.

The core of the Bitcoin Hyper architecture leverages the Solana Virtual Machine (SVM) to achieve high throughput and scalability. The system is designed to process transactions with near-instant finality, offering a significant performance boost over the native Bitcoin blockchain.

How the Technology Works

The process of using Bitcoin Hyper involves several key steps. Initially, a user deposits BTC into a specific Bitcoin address managed by the platform’s Canonical Bridge. A smart contract, known as the Bitcoin Relay Program, then verifies the transaction on the Bitcoin network. Once confirmed, an equivalent amount of BTC is minted on the Bitcoin Hyper Layer 2, allowing the user to transact quickly and efficiently.

To ensure security and synchronization with the main Bitcoin network, Bitcoin Hyper bundles and compresses its Layer 2 transactions. It uses zero-knowledge (ZK) proofs to validate these transaction batches without revealing the underlying data. The state of the Layer 2 is then periodically recorded onto Bitcoin’s Layer 1 blockchain, anchoring its security to the main network.

When a user wishes to move their funds back to the main Bitcoin network, they initiate a withdrawal request on Layer 2. The system validates this request and generates a proof for the bridge. Upon successful validation, the corresponding BTC is released to the user’s Layer 1 Bitcoin address.

Token Economics and Presale Details

The project is funded in part by a presale of its native token, $HYPER. According to the project’s official documents, the token distribution is allocated across several key areas. Development receives the largest share at 30%, followed by a 25% allocation to the treasury for business development. Marketing is assigned 20%, community rewards for staking and promotions receive 15%, and the remaining 10% is reserved for future exchange listings.

The ongoing presale has reportedly raised over $28.7 million. During this phase, the price for one $HYPER token is listed at approximately $0.013355.

Addressing Bitcoin’s Scalability Challenges

A new project called Bitcoin Hyper is being introduced as a Layer 2 network designed to address the scalability limitations of the main Bitcoin blockchain. Its primary goal is to enable faster transactions at a lower cost while maintaining the security standards of the underlying network. By moving operations to a second layer, the project seeks to unlock new functionalities for Bitcoin, including staking, Decentralized Finance (DeFi), and the use of decentralized applications (dApps).

The network’s architecture is built on a high-throughput virtual machine (SVM) to process transactions efficiently. This approach allows users to send, receive, and interact with their Bitcoin with near-instant settlement and minimal fees. By facilitating these capabilities, Bitcoin Hyper aims to foster an emerging DeFi economy built on top of the Bitcoin ecosystem, positioning itself as an alternative to existing solutions like the Lightning Network.

The Role of the $HYPER Token

The Bitcoin Hyper network is powered by its native token, $HYPER. This digital asset serves several key functions within the ecosystem, including paying for transaction fees, participating in network staking, and enabling governance rights for token holders. The project is making the token available through a presale event, facilitated by Web3Toolkit technology for payments and staking.

How the Technology Works

The Bitcoin Hyper system operates through a multi-stage process to move assets between the main Bitcoin blockchain and its Layer 2 network. It begins when a user sends BTC to a designated address monitored by the Bitcoin Hyper Canonical Bridge. A smart contract, known as the Bitcoin Relay Program, then verifies the transaction on the Bitcoin network. Once confirmed, an equivalent amount of BTC is minted on the Layer 2.

On this second layer, users can transact quickly and engage in more complex operations. These transactions are bundled together, compressed, and validated using zero-knowledge (ZK) proofs to ensure their integrity. Periodically, the state of the Layer 2 is committed to Bitcoin’s main chain, allowing it to inherit the security of the primary network. To withdraw funds, a user initiates a request, which generates a proof that is submitted to the bridge for validation before the BTC is released back to the user’s original Bitcoin address.

Token Distribution and Cross-Chain Access

During its initial distribution phase, participants who purchase $HYPER with SOL will claim their tokens on the Solana blockchain. Those who use ETH, BNB, or credit cards will claim their tokens on the Ethereum network. The project plans to provide a bridge to allow assets to move seamlessly between Solana, Ethereum, and the native BTC Hyper network.

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