March to see Conflux’s Bitcoin L2 launch with testnet on the horizon

Conflux Network has unveiled a groundbreaking solution that allows for interaction between Bitcoin and its own blockchain. This move comes at a time when interest in the largest cryptocurrency is skyrocketing.
Users will now be able to seamlessly transfer Bitcoin and assets powered by inscription technology between Conflux’s blockchain and the Bitcoin ecosystem. The new layer-2 (L2) network will operate on top of Conflux’s main chain and will utilize Bitcoin for gas fees. It will also support Ethereum-based smart contracts through the Ethereum Virtual Machine (EVM) standard.
Assuming all goes according to plan, the mainnet is set to launch in May. Prior to that, a testnet is scheduled to be released by the end of March in order to attract early users and developer activity.
Conflux is a China-based layer-1 network that combines proof-of-stake and proof-of-work models in its operations. The BTC L2 solution will adopt a similar design in order to offer new decentralized applications (dapps) and products, as explained in a blog post dated January 18.
The BTC L2 will take advantage of the growing popularity of inscriptions, ordinals, and BRC-20 tokens. These new types of cryptocurrencies bring decentralized finance to the Bitcoin ecosystem, and despite being controversial, they have gained significant traction among participants. This particular category has now evolved into a multi-billion dollar market.
Furthermore, the approval of U.S. spot Bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission is expected to attract substantial capital to Bitcoin and its expanding ecosystem. In just the first few days of trading, these spot Bitcoin funds have already recorded trading volumes and inflows in the billions.
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