Bitcoin Hyper is building a Layer 2 network based on the Solana Virtual Machine, aiming to accelerate Bitcoin transactions and reduce fees to address Bitcoin's scalability issues. The project uses a decentralized bridge to mint wrapped Bitcoin (Wrapper BTC) for use on its faster sidechain, with its native token HYPER used for paying gas fees, staking, and participating in governance. Amid broader market corrections in Bitcoin and Ethereum, it has been reported that some investors are turning to Bitcoin projects like this that focus on practical functionality.
Bitcoin Hyper is building a Layer 2 network based on the Solana Virtual Machine, aiming to accelerate Bitcoin transactions and reduce fees to address Bitcoin's scalability issues. The project uses a decentralized bridge to mint wrapped Bitcoin (Wrapper BTC) for use on its faster sidechain, with its native token HYPER used for paying gas fees, staking, and participating in governance. Amid broader market corrections in Bitcoin and Ethereum, it has been reported that some investors are turning to Bitcoin projects like this that focus on practical functionality.