DeFi

Bitcoin

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Billion

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 TNA Protocol has established itself as a pioneer in the cryptocurrency space by becoming the first naming protocol to be <a style="color: #0000ff;" href="https://twitter.com/TNA_Protocol/status/1790318538005320189?t=NSWlIF6F-DIUl2_lTZasYg&amp;s=19" rel="noopener noreferrer nofollow">supported </a>on a Bitcoin Layer 2 solution.&nbsp;
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The protocol achieved this via its strategic partnership with Bitlayer Labs, a key player in the Bitcoin Layer 2 ecosystem. Notably, this collaboration positions TNA to directly support Bitlayer’s extensive network of over 150 ecosystem partners.&nbsp;
TNA’s primary offering is based on its ability to map human-readable <a style="color: #0000ff;" href="https://twitter.com/TNA_Protocol/status/1744592368165400703" rel="noopener noreferrer nofollow">‘Tapnames’</a> to Bitcoin-native addresses. This feature is expected to simplify transactions and how users interact with the Bitcoin network by making them more user-friendly.&nbsp;
TNA’s naming protocol is similar to other prominent naming systems, such as ENS Domains, which have been widely adopted and successful in the Ethereum ecosystem.&nbsp;
The partnership between TNA and Bitlayer Labs extends beyond providing naming services. TNA will also facilitate asset transfer from and to the Bitlayer network, thus improving compatibility and reducing obstacles within the Bitcoin smart contract ecosystem.
Meanwhile, TNA has also partnered with several other notable industry players, including Bitget Wallet, OKX Web3, Merlin Layer2, Polyhedra ZK, and more, to expand access to its services across the crypto ecosystem.&nbsp;
Recently, TNA <a style="color: #0000ff;" href="https://medium.com/@tna-protocol/major-update-from-tna-enhancing-our-ecosystem-and-introducing-bn-39825ddcdc3f" rel="noopener noreferrer nofollow">announced </a>the introduction of its <a style="color: #0000ff;" href="https://twitter.com/TNA_Protocol/status/1784861069040812394?t=NU_0yQ_ghiKMSXaMIOxSBQ&amp;s=19" rel="noopener noreferrer nofollow">$BN token</a>, also known as ‘Bitcoin Names,’ designed to complement its already-established $TNA token. This move is expected to further solidify TNA’s position in the market by providing additional utility and value to its users.&nbsp;
The project’s team <a style="color: #0000ff;" href="https://x.com/TNA_Protocol/status/1784862998118465824" rel="noopener noreferrer nofollow">claimed </a>that the decision to launch a new token comes at a “critical time when scalability and efficiency within the Bitcoin ecosystem are more important than ever.”
Although TNA’s public debut was only four months ago, the timing of its innovations is particularly interesting, as the new Bitcoin Layer 2 ecosystem is experiencing unprecedented growth. Runes, a new token standard on the Bitcoin blockchain, <a style="color: #0000ff;" href="https://defi-planet.com/2024/04/runes-token-surges-post-bitcoin-halving-dominating-over-two-thirds-of-network-transactions/" rel="noopener noreferrer nofollow">reportedly </a>accounted for more than two-thirds of all transactions on the network following the halving event.&nbsp;
RELATED: <a style="color: #0000ff;" href="https://defi-planet.com/2024/05/bitcoin-hits-new-milestone-one-billion-transactions-processed-since-genesis-block/" rel="noopener noreferrer nofollow">Bitcoin Hits New Milestone: One Billion Transactions Processed Since Genesis Block</a>
This expansion is expected to drive further adoption and integration of blockchain technology across various sectors.
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The post <a href="https://defi-planet.com/2024/05/tna-becomes-first-naming-protocol-on-bitcoin-layer-2-with-bitlayer-labs-collaboration/" rel="noopener noreferrer nofollow">TNA Becomes First Naming Protocol on Bitcoin Layer 2 with Bitlayer Labs Collaboration</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

TNA Becomes First Naming Protocol on Bitcoin Layer 2 with Bitlayer Labs Collaboration

DeFi Planet

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