B² (B Square) Network has secured seed-round investments from several influential venture capital firms including HashKey Capital, OKX Ventures, and IDG Capital. The investments will support B² Network’s efforts to enhance Bitcoin’s capabilities and create a robust ecosystem around its Layer 2 infrastructure. B² Network is the first EVM-compatible Rollup and the inaugural DA layer for Bitcoin rollups, using zero-knowledge proof verification commitment to address scalability and transaction speed limitations. The goal is to expand Bitcoin’s utility beyond a store of value and integrate it more effectively into traditional and decentralized financial systems. The project also aims to revitalize the builder culture within the Bitcoin ecosystem and foster an environment of innovation and development.
Recent reports highlight the emergence of secondary networks like Stacks, Lightning, Rootstock, and Liquid that aim to resolve Bitcoin’s scalability and functionality challenges, and platforms like Synonym Finance that focus on cross-chain DeFi lending. B² Network’s ambitious project and the involvement of prominent venture capital firms signal growing interest and confidence in Bitcoin’s Layer 2 potential, paving the way for increased adoption in both traditional and decentralized finance sectors.
