TechFlow news — On July 8, according to The Block, interoperability protocol ZKM announced it will launch GOAT Network, a Bitcoin Layer 2 solution, in the third quarter. GOAT Network has secured commitments of 5,000 BTC from institutional node operators and plans to soon initiate a Series A funding round targeting $5 million at a $100 million valuation.
GOAT Network claims it will be the first decentralized Bitcoin Layer 2 solution with shared network ownership, allowing community members to stake BTC and earn rewards. Kevin Liu, core contributor of GOAT Network, co-founder of ZKM, and co-founder of Metis, said: "Launching a Bitcoin L2 with GOAT Network is a powerful first step for ZKM in seeking to unite the decentralized Web3 world. We strongly believe in decentralization and are excited to implement a shared ownership model from day one."
