We are thrilled to launch Sats Chain, a Bitcoin L2 built on BEVM-Stack in collaboration with the SATS community.
Sats Chain uses $SATS as transaction fees, marking a significant milestone in our journey toward decentralization.
Sats Chain is the first pre-development platform based on BEVM-Stack, allowing developers to experiment and test Bitcoin and $sats-based applications.
This sandbox environment provides a secure space for developers to test early versions of BEVM projects, using genuine inscription tokens – $sats – for transaction fees and governance.
Some critical official upgrades of the BEVM mainnet will also be tested on Sats Chain first.
Sats Chain incorporates most of BEVM's key design features and architecture. Like BEVM mainnet, Sats Chain also uses Taproot Consensus to achieve decentralized cross-chain and custody; and employs the same Byzantine PoS consensus mechanism as BEVM to maintain system state consistency.
The difference is that $sats is the only governance token of Sats Chain. It allows any community member to stake $sats and participate in the election of validators and custodians for Sats Chain.
Sats Chain serves as an independent L2 for $SATS inscription community, with its own consensus and functionalities. Essentially, Sats Chain is BEVM's latest attempt to merge community, technology, and market.
Since May 2023, BEVM has provided a free inscription tool called BITBOX, helping the community inscribe 20% of $sats tokens and demonstrating strong cohesion within the inscription and Bitcoin community. Building on years of BTC Layer2 development experience, BEVM launched the Canary network based on Substrate in 2023.
Believing in the potential and limitless possibilities of the inscription and Bitcoin community, we decided to assist the $sats community in launching a dedicated Bitcoin L2. This L2 uses $sats as transaction fees and governance tokens, supporting native $BTC and inscription cross-chain functionality.
From today, the $sats community can achieve consensus and consistency through on-chain governance, building unique Bitcoin ecosystem applications for $sats.
BEVM-Stack, a core business model of BEVM, completed its basic framework in April 2024. Over 40 communities, projects, founders, and exchanges have expressed interest in building their Bitcoin application chains on BEVM-Stack.
Impressed by the enthusiasm and cohesion of the $sats community, the BEVM team decided to assist in developing a Bitcoin L2 and conduct functional and stability tests on BEVM-Stack with the $sats community.
What is next? BEVM will help some top IPO mining enterprises to customize their own $BTC on-chain wealth-management L2 based on BEVM-Stack.
As a pre-development environment for Bitcoin, Sats Chain offers early BEVM code and features. The most important new feature is a decentralized indexer.
BEVM has long been committed to security and decentralization, aiming to achieve a decentralized Rune/Inscription cross-chain bridge from Bitcoin to BEVM based on the decentralized indexer.
Most current Bitcoin L2s rely on 1-2 external, independently operated indexers, introducing single points of failure and centralization risks. BEVM seeks to achieve a decentralized indexer through cross-validation by each validator maintaining multiple indexers. This solution is now being tested on Sats Chain.
The process involves:
Soon, BEVM will collaborate with the SATS community to launch exclusive interactive and experiential activities, offering unique rewards to participating users.
In the future, BEVM will transfer the maintenance and upgrade responsibilities of the Sats Chain to the SATS community, striving to develop it into an open platform governed by the community.
- GitHub: https://github.com/BTCSatsNetwork
- Bridge: https://satsbridge.bevm.io/bridge-mainnet
We look forward to seeing the innovative applications and projects that the SATS community will build on the Sats Chain!
