Question 1

What is Ligo (LIGO)?

Accepted Answer

BTC Layer2, represented by its token $LIGO, is a blockchain solution designed to address specific limitations of the Bitcoin network. It's presented as a Layer 2 blockchain that is compatible with the Ethereum Virtual Machine (EVM) and is focused on decentralized computing. The primary purpose of BTC Layer2 is to enhance Bitcoin's scalability, reduce transaction fees, and introduce a Turing Complete virtual machine to the network. This aims to extend the functionality of Bitcoin, enabling it to support a wider range of decentralized applications and protocols.

Question 2

What is Ligo (LIGO) used for?

Accepted Answer

BTC Layer2 serves several key functions in the Bitcoin ecosystem:

**Decentralized Infrastructure:** It provides a decentralized infrastructure for Bitcoin-based Web3 applications, enabling them to operate efficiently and securely without relying on centralized servers.

**Enhanced Scalability and Liquidity:** By being EVM-compatible, BTC Layer2 offers scalability and integrates with the DeFi ecosystem on Ethereum, potentially offering greater liquidity.

**Support for Decentralized Applications:** The platform is designed to support various decentralized applications (dApps) in areas like DeFi, NFTs, GameFi, and SocialFi, using EVM and smart contracts.

**High Transaction Throughput:** BTC Layer2 claims the capability to support over 10,000 transactions per second (TPS), a significant improvement over Bitcoin's current capacity.

Question 3

Who created Ligo (LIGO)?

Accepted Answer

BTC Layer2 is developed by a team referred to as the "BTC Layer2 Team,". They are described as Bitcoin developers who have built BTC Layer2 specifically for Bitcoin developers.