The Mirror L2 brand has been upgraded to Mirror Staking Protocol and will focus on providing decentr

BRAND BTC Mirror staking 2024-03-13 97
On March 13th, official sources announced that Mirror L2 has undergone a significant transformation and has been rebranded as the Mirror Staking Protocol. This rebranding marks a shift in focus towards providing a decentralized and secure staking solution for BTC L2 projects, ensuring that the transfer and sharing of BTC on L2 remains 100% secure.

The Mirror Staking Protocol is powered by the innovative Overlapping Group Multisignature (MSG) algorithm, which is managed by a large network of nodes, ensuring a balanced approach to BTC staking rates, security, and decentralization. This algorithm has been recognized in top conference papers and showcases a modular blockchain design that generates mBTC tethered 1:1 with BTC, compatible with EVM and includes restaking mechanisms.

Mirror is committed to providing a secure and decentralized BTC staking solution for BTC L2 projects, fostering a collaborative relationship between Mirror and BTC L2 projects to ensure seamless cooperation. In an analogy, if BTC L2 projects are likened to electric vehicle manufacturers, then Mirror serves as the battery pack, while also functioning as the computing center for large models (LLM).

Looking ahead, Mirror plans to expand its Total Value Locked (TVL) and ecosystems with other BTC L2 projects through the "Stake Once, Earn Twice" campaign, further solidifying its position as a key player in the BTC L2 space.

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