Author: Ryze Labs Insights
Navigation Table of Contents
1. Introduction
2. The development of Bitcoin ecosystem
3. Bitlayer project and ecological highlights
4. Experience and gains of different roles
5. Bitlayer's core advantages
6. Differences in usage scenarios between Bitcoin and Ethereum
7. Challenges and feelings in entrepreneurship
01. Introduction
Welcome to listen to Ryze Labs
This episode’s host
Fred, a Ryze Labs Researcher, focuses on expanding the fund’s influence in the Chinese-speaking community and providing ideas and advice to the fund’s portfolio companies.
Special guest
Charlie Hu is the co-founder of Bitlayer and has extensive experience in the blockchain industry and a deep professional background. He participated in the first round of investment in Polkadot in 2017 and actively promoted the Polkadot project in China, established the PolkaBase brand, and supported the success of multiple Polkadot projects. In 2021, he joined the Polygon official team to lead the development of the Asia-Pacific ecosystem. In 2022, he co-founded Bitlayer with his partner Kevin, focusing on Bitcoin's second-layer expansion plan and infrastructure construction.
02. The development of the Bitcoin ecosystem
The Bitcoin ecosystem is developing rapidly, especially after the Inscription Summit, many new assets and opportunities have emerged. The Inscription Summit revealed the huge potential of Bitcoin in the field of digital assets and attracted the attention of a large number of developers and investors. As digital gold, Bitcoin's decentralization and anti-censorship characteristics make it trusted and valued worldwide. In the field of DeFi, Bitcoin has also shown great potential, especially in asset management, lending and liquidity provision. Charlie Hu believes that the development of Bitcoin in the field of DeFi will bring more innovation and growth opportunities to its ecology.
03. Bitlayer Project and Ecological Highlights
The Bitlayer project was co-founded by Charlie Hu and his partner Kevin, aiming to solve the expansion problem in the Bitcoin ecosystem. The project has developed rapidly, has completed the seed round of financing, and has attracted the attention of many internationally renowned investment institutions. There are many excellent projects in the Bitlayer ecosystem, such as Avalon Finance and Vanilla Finance. Avalon Finance is a Bitcoin native lending project that achieves high capital utilization and rapid growth by combining Bitcoin assets and smart contracts. Vanilla Finance is a low-threshold guessing project that combines the free market logic of Bitcoin and attracts a large number of users to participate. In the future, Bitlayer plans to further expand its ecosystem, support more developers and application scenarios, and promote the development of the Bitcoin ecosystem.
04. Experience and gains of different roles
In the blockchain industry, different roles bring different experiences and gains. As a project owner, investor and entrepreneur, Charlie Hu emphasized the importance of international teamwork and shared the skills and experience accumulated in different roles. He believes that technical understanding and innovative thinking are crucial in ecological construction, which are the core capabilities he applied in the Bitlayer project. Past experiences have trained him to think more carefully and effectively in supporting developers and building the ecosystem. 05. Bitlayer's core advantages Existing Bitcoin expansion solutions have many shortcomings and cannot meet the needs of large-scale commercial applications. Bitlayer has achieved secure equivalent expansion of Bitcoin by introducing new technologies and solutions, avoiding the security risks of traditional side chains. Its core technologies include Bitcoin's second-layer expansion and trustless cross-chain asset solutions, which have brought new development opportunities to the Bitcoin ecosystem. Bitlayer has significant advantages in technology and security. By being compatible with EVM and multi-VM, Bitlayer can attract more Ethereum developers to join and promote the development of the Bitcoin ecosystem. In addition, Bitlayer's trustless cross-chain solution greatly reduces security risks and increases users' trust in cross-chain assets. Its innovative expansion technology also provides strong support for the sustainable development of the Bitcoin ecosystem.
06. Differences between Bitcoin and Ethereum in usage scenarios
Bitcoin and Ethereum have significant differences in security, decentralization and usage scenarios. Bitcoin, as a digital asset with higher security and stronger decentralization, is mainly used for storage and transactions. Ethereum, on the other hand, is widely used in various decentralized applications and DeFi projects due to its smart contracts and Turing completeness. The differences in user needs and application scenarios also determine the differences between the two in ecological construction. Bitcoin users pay more attention to security and stability, while Ethereum users pay more attention to asset growth and transaction speed. This difference gives Bitcoin an advantage in security and long-term stable returns, while Ethereum is more competitive in fast transactions and innovative applications.
07. Challenges and feelings in entrepreneurship
During the entrepreneurial process, Charlie Hu faced many challenges, including pressure in team management, business development and marketing. Compared with investment, entrepreneurship requires more multifaceted capabilities and a higher sense of responsibility. Charlie Hu emphasized that entrepreneurship requires not only technical and business capabilities, but also good management and teamwork to cope with the ever-changing market environment and competitive pressure. In the process of entrepreneurship, he also needs to do a lot of work in international team and market development to ensure the continued development of Bitlayer. Charlie Hu shared his experience in managing a small team to a large team during the entrepreneurial process. How to maintain team culture and deal with various challenges are important experiences he learned in the entrepreneurial process.
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Cheng Yuan
Sanya