Elastos plans to launch Bitcoin L2 BeL2

In comparison, according to CoinDesk, Elastos plans to launch a new Bitcoin Layer 2 network, BeL2, which will bring more complex possibilities to Bitcoin transactions, including smart contracts and irreversible digital protocols.

Elastos developers say users can define, manage, track and modify smart contracts on Bitcoin without intermediaries.

Additionally, BeL2 allows users to directly stake Bitcoin on the service and earn revenue when interacting with apps built on it.