The firm, led by BIP 300 and BIP 301 author Paul Sztorc, is on a mission to bring privacy, scalability and better UX solutions to Bitcoin.
Layer 2 Labs is launching with the goal of scaling and building out drivechains for the Bitcoin Network. The company has closed a seed round at launch, raising $3 million in funding.
Layer 2 Labs co-founder and CEO Paul Sztorc said in a statement sent to Bitcoin Magazine that the firm seeks to „make everyone in the world a Bitcoin user.” Sztorc is the author of two Bitcoin improvement proposals (BIPs), BIP 300 and BIP 301, which detail the technical specifications of drivechains. Naturally, drivechains are at the forefront of Layer 2 Labs’ mission.
„Layer 2 Labs believes that drivechains have the potential to revolutionize the way we use Bitcoin by enabling greater scalability, extensibility, privacy, and flexibility on the network,” the company said in a statement. „We believe that drivechains have the potential to kill altcoins, increase Bitco
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