Conflux Network to launch EMV-compatible Bitcoin L2 solution

January 19, 2024 05:28 AM AEDT | By Invezz

Conflux Network to launch EMV-compatible Bitcoin L2 solution — Image source: Invezz

EVM-compatible Bitcoin L2 on Conflux

According to the Layer 1 blockchain, the new L2 set for test in February or March, will utilise BTC for gas fees. The platform has scheduled the solution’s mainnet launch for May this year. The EVM-compatible L2 solution will operate on top of Conflux.

“By embracing BTC within our PoS protocol, which includes built-in staking mechanisms, holders can actively contribute to network security and governance on the Conflux platform,” the platform wrote in a Medium post published on Thursday.

Also set to feature within the L2’s ecosystem will be inscription-based tokens, including BRC20 and ARC20.

Conflux Network’s announcement saw the price of its native token CFX surge by double digits earlier in the day.

According to data from CoinGecko, CFX rose to highs of $0.23 before paring gains. The token traded around $0.21 at the time of writing, roughly 5% up in the past 24 hours.

The post Conflux Network to launch EMV-compatible Bitcoin L2 solution appeared first on Invezz

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