A recent report highlights the growth of layer-2 networks to improve Bitcoin’s scalability and functionality, addressing its congestion issues.
The report compares Bitcoin’s evolving architecture to Ethereum’s, emphasizing new developments like the Lightning Network and BRC-20 token standard.
A recent report emphasizes the rapidly growing creation of auxiliary layer-2 networks as a means of addressing the intrinsic limits of Bitcoin. This significant change in the cryptocurrency space aims to address the long-standing problems with Bitcoin’s restricted functionality and congestion.
Last year, Bitcoin’s network faced significant congestion due to an influx of Non-Fungible Tokens (NFTs) and token experiments. This situation highlighted how urgently scalable solutions are needed to improve Bitcoin’s functionality and transaction capacity.
The “Bitcoin Layers” report, co-authored by the Singapore-based blockchain asset-management Spartan Group and industry expert Kyle Ellic

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