According to official information, Bitcoin's native execution layer QEO Protocol has joined forces with StarkWare, zk. Link, Mina Foundation, and o1Labs have announced the formation of the L2O Alliance, dedicated to bringing intrinsic security, internet scale, and interoperability to Bitcoin on-chain applications and Layer 2 solutions.
It is reported that the L2O Alliance aims to set standards for high-trust applications and Bitcoin Layer 2. Leveraging Bitcoin's liquidity and security and zero-knowledge proofs, developers will be able to build more network-effective Layer 2 applications.
The L2O standard covers privacy, scalability, composability, and compatibility with Bitcoin. In addition, the consortium is developing tools and resources for deploying Layer 2 and enabling smart contract-like functionality on the Bitcoin chain by harmonizing standards between solutions, guaranteeing permissionless interoperability between applications.