BitYuan (BTY) Announces BTC L2 Ecosystem Expansion Strategic Plan

BlockBeats News, November 26th, the BitYuan Foundation announced that the BitYuan core technical community is expanding and integrating the Bitcoin RGB protocol. Based on the RGB protocol, the BitYuan team has designed an extension protocol that utilizes a decentralized blockchain network for custody and strengthens client-side validation, further enhancing asset security and usability.

It is reported that through the design of an abstract account model, BitYuan has achieved seamless and secure transfer of RGB assets between Bitcoin UTXO and BitYuan addresses without relying on third-party cross-chain bridges. This innovation allows assets to leverage Bitcoin's robust consensus for value storage, complete fast and low-cost transactions on the high-performance BitYuan chain, and achieve interoperability among Turing complete smart contracts. This strategic plan marks BitYuan's further integration into the Bitcoin ecosystem, taking an important step towards advancing the BTC L2 network.