Bitcoin Development Company Layer 2 Labs Raises $3M in Seed Round

Bitcoin development company Layer 2 Labs announced it has raised $3m in a seed round from angel investors. The fund will be used to implement innovative sidechain solutions on the Bitcoin network.

Layer 2 Labs aims to introduce drivechains, a new type of sidechain, to the Bitcoin network to offer a better user experience. The technology allows users to move $BTC back and forth between the main Bitcoin blockchain and multiple drivechains.