Elastos, a pioneer in blockchain technology announced the launch of its Destiny Calls Program. Elastos is the creator of BeL2, the first Bitcoin Layer 2 applying zero-knowledge technology to enable the direct development and management of ‘Bitcoin-native’ smart contracts.
The new program is now welcoming applications from the digital entertainment, gaming and leisure sector utilizing Elastos’ decentralized infrastructure including BeL2 to deliver Bitcoin- denominated services and experiences. The initial cohort of 6 to 8 projects will be backed by up to 100,000 ELA in funding, equivalent to approximately $378,000 USD to kick start a new and non-invasive approach to Layer 2 solutions. The program is a key part of Elastos’ ongoing mission to accelerate the development of the user-controlled SmartWeb.
“With the recent launch of Elastos’ BeL2, innovators and entrepreneurs now have access to the functionality of layer 2 blockchains backed by the unparalleled security of Bitcoin,” said Jonathan Hargreaves, Global Head of Business Development & ESG at Elastos. “Bitcoin Layer 2 promises to unlock various applications that will underpin the SmartWeb and has fundamentally addressed some of the capacity and functionality restrictions that have hindered the mainstream adoption of the Bitcoin ecosystem. Destiny Calls will provide crucial initial funding for teams exploring the potential of BeL2 and Elastos’ other SmartWeb infrastructure, and will accelerate the transformation of the internet into a user-driven and interactive ecosystem.”
Projects will be selected by the Destiny Calls board and reviewed with support by QuestBook, the on-chain grant funding review and administration platform. The initial cohort will be focused on three sectors: digital entertainment, gaming and leisure. In addition to funding, as part of the program Elastos will provide marketing and technical support, along with mentorships to support grantees in reaching their program milestones. Interested applicants are encouraged to visit the Destiny Calls page here.
Elastos’ Bitcoin Layer2, BeL2
The launch of Destiny Calls, follows the recent launch of Elastos’ Bitcoin layer 2, BeL2. BeL2 is the first Bitcoin layer 2 to facilitate the creation, recognition, management and exchange of any Bitcoin-denominated smart contract directly between concerned parties, without workarounds like intermediaries, side chains or additional applications. BeL2 promises to unlock the SmartWeb, by providing unprecedented functionality to Bitcoin and is part of growing industry excitement and focus on unlocking layer 2 functionality on Bitcon after the significant growth of L2s in the Ethereum ecosystem.
Pilot Recipients Announced
As part of the launch, Elastos is confirming that BeatFarm will join Destiny Calls as an inaugural member, having successfully completed pilot projects with Elastos.Beatfarm is a Decentralized platform to give artists direct access to potential collaborators, promotors, producers and industry professionals on their own terms. In collaboration with Elastos, Beatfarm is working to enable artists to establish Smart Contracts on their own terms with the resulting contracts – eScriptions – secured and assured through Bitcoin that can be traded through a decentralized marketplace.
“Beatfarm’s success as a pilot project perfectly illustrates the potential of BeL2 to create sustainable business models for decentralized Web3 experiences,” adds Jonathan. “ Beatfarm exemplifies our goal of supporting innovative ideas in digital entertainment, gaming and leisure through Destiny Calls.”
For more information, please visit https://elastos.info/