Bitfinity allocates $7m to create Bitcoin sidechain on Internet Computer
Bitfinity Network has raised $7 million from Polychain Capital and ParaFi Capital to establish off-chain infrastructure for Bitcoin and Ordinals. In a press release shared with crypto.news, Bitfinity said the proceeds will help it develop a Bitcoin sidechain on the Internet Computer blockchain called the Bitfinity Ethereum Virtual Machine (EVM). With the new solutions, blockchain developers could build Bitcoin-enabled decentralized apps on Internet Computer using Solidity programming language. Max Chamberlin, the founder of Bitfinity, highlighted that the Bitfinity EVM, audited by Quantstamp, will facilitate the deployment of decentralized applications “with speeds 100 times faster than Ethereum and at a fraction of the cost.” “Bitfinity’s EVM aligns with the Bitcoin mission by effectively functioning as a Bitcoin sidechain , with the addition of Taproot assets on the horizon.” Max Chamberlin You might also like: Developer asks community not...