Elastos BeL2 Launched to Better Benefit Users from BTC Staking

Crypto News – With BeL2, Elastos hopes to enable users to stake their Bitcoin holdings directly on the platform.

Elastos BeL2 Launched to Better Benefit Users from BTC Staking

It’s possible that blockchain network Elastos came up with a plan to capitalize on the current surge in interest in Bitcoin (BTC) staking on its network. This comes after it introduced BeL2, a layer-2 network for Bitcoin, ostensibly to hold onto the billions of dollars in BTC volumes that come via the staking tools it provides.

Without the need for a middleman, smart contracts on Bitcoin may be defined, managed, tracked, and even completely changed with the BeL2. Elastos engineers claim that BeL2 is an improvement over the original Bitcoin blockchain. And that’s particularly the case when it comes to enabling more complex Bitcoin transactions, including irreversible digital agreements and smart contracts.

Transaction Fees Will Decrease Significantly With BeL2

With BeL2, Elastos hopes to enable users to stake their Bitcoin holdings directly on the platform. Users can then interact with other BeL2-based applications and enjoy their tremendous yields. Another area that Elastos is focused on is transactional fees. The network is hopeful that BeL2 will assist it in eliminating or drastically lowering the fees.

In 2023, it is important to note that Bitcoin layer-2 projects have been successful thus far. So much so that several project tokens have achieved historically high increases this year. Stacks (STX) experienced a parabolic price surge exceeding 300%. Therefore, the Elastos network is attempting to follow the same course in order to achieve this. It seeks to improve its users’ experiences and boost its own business in all respects.