Detailed explanation of BEVM ecosystem’s first L2 inscription protocol

As the first Bitcoin L2 inscription protocol based on BEVM, Bevscriptions has been officially launched. It is committed to combining the attributes of smart contracts with the innovative BM20 protocol to convert Bitcoin inscription tokens The transaction process is transferred from the L1 main chain to the L2 network, thus bringing different possibilities to the inscription trading market.

This article aims to introduce BEVM and Bevscriptions, and share the experience tutorial of Bevscriptions, the first inscription trading platform on BTC L2.

BEVM: A new solution for Bitcoin L2

BEVM is a BTC Layer2 that uses BTC as Gas and is compatible with EVM. The core goal is to expand the smart contract scenario of Bitcoin and help BTC break through the constraints of the Bitcoin blockchain being non-Turing complete and not supporting smart contracts, so that BTC can be used in BEVM Decentralized applications using BTC as native Gas are built on this Layer 2.

When a user transfers BTC from the Bitcoin main network to BEVM, the user's BTC will enter the contract address hosted by 1,000 nodes, and then be transferred to BEVM at the same time. That is, the BTC Layer2 network generates new BTC at a ratio of 1:1.

When the user issues an instruction to transfer BTC from BEVM back to the main network, the BEVM network node will trigger the Mast contract, and the 1,000 nodes that manage assets will follow the established The rules are automatically signed and BTC is returned to the user's address. The entire process is completely decentralized and trustless.

This means that all transactions are transferred from the Bitcoin main chain to run on the Layer2 network. At the same time, since BEVM is fully compatible with EVM, it can also be easily Let BTC realize various decentralized applications.

This is also the biggest difference from other Bitcoin L1 projects - traditional Bitcoin L1 or "original L2" projects (such as lightning payments) often have application scenarios It is very simple and only supports payment use cases, and cannot derive more interesting DApp applications such as lending, staking, and mining.

BEVM empowers Bitcoin inscription projects from L2 (including main chain inscription tokens such as ORDI and SATS), which can be mapped to BM20 form through cross-chain mapping L2 assets), by attracting Solidity contract developers, allowing them to build Swap and even on-chain DeFi scenarios for inscription tokens such as ORDI and SATS, etc., such as lending and liquidity staking, bringing more possibilities to the Bitcoin ecosystem.

Bevscriptions experience tutorial

And Bevscriptions is based on BEVM The first Bitcoin L2 inscription trading platform supports Bitcoin inscription holders to map corresponding inscription tokens (such as ORDI, SATS, RATS, etc.) from the Bitcoin main chain to the L2 network in a decentralized manner through BM20 The protocol is converted into BM20 tokens for direct use in Bevscriptions on L2.

Bevscriptions ’s contribution to protocol innovation has also been forwarded and recognized by BEVM’s official tweet. This article will briefly introduce the experience of using Bevscriptions, the first inscription trading platform on BTC L2. Tutorial.

1. Add BEVM custom network to the wallet

Users can use any EVM chain wallet such as MetaMask to customize the BEVM network. The specific parameters are:

• RPC URL: https://rpc-1.bevm.io/

• Network ID: 1501

• Gas: BTC

• Explore URL: https://evm.bevm.io/

2. Cross-chain BTC to the BEVM network

Users need to first enter the BSwap official cross-chain interface: https://bswap.bevm. io/#/bridge

Then link to any EVM chain wallet such as MetaMask.

Select BTC and set the specific amount planned for cross-chain.

Set the transaction fee and proceed. Note: Cross-chain requires 3 confirmations from the Bitcoin main network (at least 30 minutes).

After clicking "Transfer", a confirmation box will pop up in the wallet, click "Sign" to confirm the transaction.

Click the Bitcoin wallet icon in the upper right corner to track the status of cross-chain transactions in real time.

You can also check the progress in mempool. As shown in the figure, the first arrow indicates that the transaction is currently in the queue, and when the transaction moves from yellow to blue (the dividing line), it will be in the confirmed state.

In addition, BMW, as the first inscription launched on the Bevscriptions platform, is also Bitcoin L2 based on BEVM Ecology’s first inscription project. The total number of BMW inscriptions is 2.1 million, each containing 10 coins.