
Abstract: This article takes an in-depth look at BeL2 and Stacks, two Bitcoin Layer 2 solutions, and conducts a comparative analysis from multiple aspects such as technology development, goals, ecological expansion, advantages and features. BeL2 focuses on security by integrating mining, issuance of stable coins and DeFi applications; Stacks emphasizes smart contracts and flexibility through the PoX consensus mechanism and sBTC assets. This article aims to provide a comprehensive comparison to help readers understand the similarities and differences between the two solutions, as well as their roles and positioning in the Bitcoin ecosystem.
Table of Contents
Toggle1. Technology development: Layer 2 architecture in different ways
BeL2 (Bitcoin-Elastos Layer 2) and Stacks are both Layer 2 solutions designed to extend the functionality of Bitcoin, but they adopt completely different technical approaches:
BeL2: BeL2 utilizes zero-knowledge proofs (ZKPs) technology to connect Bitcoin with EVM-compatible blockchains such as Elastos Smart Chain. It does not run smart contracts directly on the Bitcoin blockchain, but passes the proof of Bitcoin transactions to smart contracts on other chains through ZKPs. This ensures the security and integrity of Bitcoin assets while allowing for more complex financial operations on other chains. The core architecture of BeL2 includes ZKBTC full nodes, arbitration nodes and smart contracts. Arbitration nodes are responsible for dispute resolution and time-based execution, ensuring decentralization while earning BTC fees..
Stacks: Stacks adopts a unique PoX (Proof-of-Transfer) consensus mechanism. It builds new blocks by letting miners transfer BTC to other Stacks network participants rather than burning BTC. Stacks can read the Bitcoin network status and verify the occurrence of these BTC transactions. PoX closely connects Stacks to Bitcoin and leverages Bitcoin’s PoW security. In addition, Stacks uses the Clarity programming language to write smart contracts, Clarity is designed for predictability and security, and can directly read the Bitcoin status, which allows Stacks smart contracts to be triggered based on Bitcoin transactions. Stacks also introduces sBTC (1:1 Bitcoin-backed asset), an asset pegged 1:1 to Bitcoin, allowing seamless transfers of BTC between Stacks and Bitcoin.
2. Goal: Different strategies to expand Bitcoin application scenarios
Although BeL2 and Stacks both aim to expand the application scenarios of Bitcoin, they focus on different directions:
BeL2: The main goal of BeL2 is to bring the value of Bitcoin into the DeFi ecosystem, allowing Bitcoin holders to participate in DeFi applications without moving their BTC, such as using Bitcoin as collateral for lending. BeL2 emphasizes security and stability, which hopes to become the cornerstone of a new global financial system based on Bitcoin, similar to the historical Bretton Woods system, but more decentralized and secure.
Stacks: Stacks’ goal is to bring smart contracts and dApps functionality to the Bitcoin ecosystem. It hopes to leverage Bitcoin’s security to build a broader Web3 ecosystem, covering DeFi, NFT, DAO and other fields. Stacks emphasizes flexibility and scalability, allowing developers to easily build a variety of applications on Bitcoin and unlock the value of billions of dollars of idle Bitcoin assets.
3. Ecological expansion: application cases each with its own merits
Both the BeL2 and Stacks ecosystems are growing, but their use cases and partners differ:
BeL2: BeL2’s current major partners include Elastos, Elacity, Beatfarm, Particle Network, BEVM, StarkNet and AIOZ Network, etc.. These partners cover multiple fields such as DeFi, music, Web3 development and content transmission. The application cases of BeL2 mainly focus on Bitcoin mortgage loans, cross-chain asset exchange, NFT and Ordinals support, etc.. BeL2 is actively promoting the use of its lending app, and provide SDK to enable partners to develop native Bitcoin applications.
Stacks: Stacks’ ecosystem is even broader, covering DeFi, NFT, DAO and other fields. Well-known applications that have been built on Stacks include Alex (decentralized launch platform), LNSwap (atomic swap exchange), Arkadiko (liquidity protocol), Gamma (NFT market), StacksBridge (cross-chain NFT bridge), etc. Stacks also supports projects like CityCoins, which allows citizens to generate cryptocurrency revenue for their cities. Stacks also has a large number of partners, more than 30, and actively encourages developers to use its Clarity smart contract language and tools for development.
4. Advantages and Characteristics: Each has its own technical routes
BeL2 and Stacks each have their own advantages and features:
Advantages of BeL2:
High security: Make full use of the security of Bitcoin and combine it with zero-knowledge proof technology to ensure the privacy and verifiability of transactions..
Stability: Provide reliable and scalable DeFi infrastructure.
Simple and easy to use: Its loan app is designed to be simple and easy to use.
Disadvantages of BeL2:
Relatively small ecosystem: relatively few partners and apps.
Depends on Elastos Smart Chain: The implementation of its functions depends on Elastos Smart Chain.
Advantages of Stacks:
Flexibility: Provides Clarity smart contract language, allowing developers to easily build various applications.
Scalability: Using PoX consensus mechanism, it has high scalability.
Active ecosystem: with a large number of partners and applications.
Introduction of sBTC: Making Bitcoin easier to use in other networks.
Disadvantages of Stacks:
Security relies on Bitcoin: Stacks security still relies on the Bitcoin network.
Learning cost of Clarity language: Clarity language is relatively new and the learning cost may be higher.
5. Conclusion: The future development of Bitcoin Layer 2
BeL2 and Stacks represent two different directions of Bitcoin Layer 2 development. BeL2 emphasizes security and stability and introduces the value of Bitcoin into the DeFi ecosystem, while Stacks emphasizes flexibility and scalability, providing a broader space for Bitcoin developers. Both have their own advantages, and it remains to be seen which solution will better meet market demand. However, the two work together to promote the development of the Bitcoin ecosystem and open up more possibilities for Bitcoin’s future applications. In the future, the development of Bitcoin Layer 2 will likely be more diversified, and different solutions will have their own advantages and jointly provide more complete infrastructure and application scenarios for Bitcoin. The strong security and value of Bitcoin itself will attract more and more Layer 2 solutions and will also promote the development of Bitcoin as a mainstream digital asset.
Click to select other platforms to view: ClickBank or Digistore24.
To join ELA community platform, click here.
Is there a Layer 2 for Bitcoin?
Yes, there are Layer 2 solutions for Bitcoin, such as the Lightning Network.
Is Stacks a Bitcoin Layer 2?
Yes, Stacks is a Bitcoin Layer 2 protocol.
Is Binance a Layer 2?
No.
What is the best Layer 2 blockchain?
Polygon.
AI beauty, street photography, dance appreciation. Click digit_content@instagram to watch more content.
Get in touch with nature on the trip, beautiful scenery will relax you.Click zaztourist@instagram to watch one content.
Beautiful photos and videos.Click zaztourist@facebook to Watch more content.
Watch more weight loss, health, herbal supplements introduction. Click zaz0909@Pinterest to Watch more content.
Xishuangbanna Scenic spot project reservation phone number(西双版纳景点项目预定电话):15283027571