What is LayerEdge (EDGEN)

I. Project Introduction

1. What Is LayerEdge?
LayerEdge is the first decentralized network to enhance Bitcoin block space capabilities using ZK and BitVM, serving as a Rollups scaling solution for the Bitcoin mainnet. LayerEdge Network achieves unprecedented protection through a multi-layered security architecture. On one hand, it integrates Bitcoin's proven consensus mechanism, and on the other, it adopts distributed verification. The network anchors to the Bitcoin blockchain while utilizing edgenOS to distribute verification tasks across millions of lightweight nodes, building a security model that is both robust and scalable. This unique architecture eliminates single points of failure, while zero-knowledge cryptography guarantees computational integrity at a mathematical level. With this hybrid security model, LayerEdge maintains Bitcoin-grade security while bypassing its throughput limitations.
2. How Does LayerEdge Work?
Its core technology is the aggregation and verification of ZK-proofs. This architecture ensures that data from various sources (including Data Availability layers (DA) and PoS-based chains) can be anchored to Bitcoin, thereby leveraging its established security and immutability. Simply put, the processed results of the data are hashed and stored on-chain, utilizing the BTC mainnet as the foundational security guarantee for the data.
It supports a PoH (Proof of Humanity) consensus mechanism. By sharing costs across multiple protocols, it can theoretically reduce verification fees by up to 99%, with test data showing an actual reduction of about 60% by the time of its launch in June. LayerEdge has also completed the development of its explorer and light nodes, and has been integrated into Babylon as a BSN (Blockchain Service Network).
3. Who Founded LayerEdge?
Ayush Gupta (Co-founder & CTO): Former Engineer at Samsung R&D Institute (where he developed an authentication system used by millions worldwide) and former Tech Lead at Gnosis (where he built validator node systems).
Rishabh Anand (Co-founder): Previously a core contributor at GraphLinq Chain (propelling the project to a market cap of over $200 million and a TVL of over $30 million). A 7+ year crypto industry veteran, he has led integrations with Polygon, Avalanche, and other mainstream blockchains. He graduated from the University of Delhi, India.
Funding Details: Raised $600,000 in a Pre-Seed round in March 2024 at a $12 million valuation.
4. LayerEdge Tokenomics
Total Supply: 1 billion tokens. The first round of airdrop allocation accounts for 10%, of which 6% is allocated to the first cohort of testnet contributors, 2% is allocated to OG Pledge Pass holders, and 2% is reserved for community expansion.
Token Utility: a. Verification Payment: All proof services (zero-knowledge proofs, aggregation, Bitcoin anchoring) are paid for using LayerEdge tokens. b. Validator Rewards: Light nodes and full nodes earn tokens based on uptime and correctness. c. Infrastructure Access: Applications and blockchains require tokens to use LayerEdge's verification network. d. Securing the Network: Tokens are used to pay bounties for fraud detection and to penalize malicious actors.
Token Buyback and Burn Mechanism: Protocol revenue is directly used for a buyback and burn mechanism.

II. Cryptocurrency Information

1) Basic Information

Name: edgen (EDGEN)

III. Related Links

Official Website:https://www.layeredge.io/

Blockchain Explorer:https://etherscan.io/token/0xAa9806c938836627Ed1a41Ae871c7E1889AE02Ca

Social Media:

https://t.me/layeredge

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.