Singapore, Singapore--(Newsfile Corp. - April 11, 2024) - QED Protocol, the Bitcoin native execution layer, together with StarkWare, zk.Link, Mina Foundation, o1Labs, announced the launch of the L2O Consortium, a group of projects and protocols committed to bringing Bitcoin's native security, internet scale, and interoperability to applications and Layer 2 solutions.
QED Launches L2O Consortium to Develop Bitcoin Layer 2 Solutions
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The L2O Consortium aims to set standards for trustless applications and Layer 2s to be deployed on the Bitcoin blockchain. By leveraging Bitcoin's liquidity and security guarantees, developers will be able to build Layer 2 applications with strong network effects from the wider Bitcoin ecosystem. Bitcoin's dominant user base and liquidity means any application built on L2O will inherit a huge ready-made audience. L2O standards will provide users key benefits including privacy, scalability, composability and compatibility with Bitcoin.
The consortium is developing reference implementations, tools, and resources for developers looking to build DApps or deploy Layer 2s on top of Bitcoin and enable trustless interoperability between applications by coordinating standards across solutions, leveraging ordinals and zero-knowledge proofs to bridge the technical gaps that previously hampered smart contract-like functionality on Bitcoin.
Carter Jack Feldman, Founder and CEO of QED Protocol, commented on the news, "The L2O Consortium marks a major milestone in unlocking the full potential of Bitcoin. By bringing together industry leaders and developers across zero knowledge projects and protocols, application development, and community education, we can accelerate the development of robust and usable DApps."
Consortium members include QED, StarkWare, zk.Link, Mina Foundation, o1Labs and more to come. The L2O Consortium welcomes additional members looking to advance zero-knowledge technology for Bitcoin in a coordinated, community-driven way.
"Bitcoin is the most secure, decentralized, and credible crypto network in existence today," continued Carter Feldman, Founder and CEO of QED. "The L2O Consortium gives us an opportunity to build on top of this solid foundation while retaining Bitcoin's core values of privacy and self-sovereignty. The potential impact of scalable DApps on Bitcoin is tremendous."
For more on the L2O Consortium, visit l2o.io or follow on Twitter at @L2Ordinals.
About QED
QED is Bitcoin's native execution layer, designed to address the challenges of Web3 development. The horizontally scalable, secure, and user-friendly platform is built for developers and users alike, supporting a wide range of applications from DeFi to NFTs and beyond.
Contact Information
Website: www.qedprotocol.com
Twitter:
- Official: @qedprotocol
- Founder: @cmpeq
QED Protocol Team
Email: [email protected]
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