Elastos, a blockchain platform focusing on Bitcoin, has teamed up with the decentralized physical infrastructure network IoTeX to streamline digital identity validation. The partnership not only seeks to merge Bitcoin's reliability and credibility with DePIN but also intends to revolutionize the integration of digital and physical assets through the utilization of Bitcoin.

The collaboration is designed to maximize Bitcoin's Layer-2 functionalities, particularly through Elastos' strategy, to enhance the efficiency and accessibility of real-world assets, such as buildings and equipment. By merging these assets with blockchain technology and the Internet of Things (IoT), the partnership envisions establishing a seamless, secure, and effective environment for overseeing and capitalizing on physical infrastructure.

A pivotal aspect of this joint effort is the direct incorporation of 'Layer 2' Bitcoin, a step that Raullen Chai, IoTeX’s co-founder and CEO, identifies as a significant achievement. He emphasized the importance of extending their capabilities to the Elastos Smart Chain (ESC), which allows direct integration with 'Layer 2' Bitcoin, enabling agreements to be embedded and validated directly within the renowned digital currency.

This integration empowers agreements to be embedded and verified directly through Bitcoin, offering a secure and transparent method for handling agreements and transactions within the realm of physical infrastructure as DePINs gain more prominence.

Elastos' BeL2's BTC Oracle plays a crucial role in enabling secure communication between Bitcoin and EVM blockchains, employing zero-knowledge proofs (ZKPs) to establish the foundation for intricate decentralized applications directly on Bitcoin Layer 2.

IoTeX's versatile infrastructure platform seamlessly connects smart devices and real-world data to blockchains. The middleware solution, W3bstream, ensures real-world data's integration on-chain, facilitating the seamless fusion of IoT devices with blockchain technology, thereby ensuring integrity, optimizing speed, and enhancing scalability.

Jonathan Hargreaves, the Global Head of Business Development & ESG at Elastos, views this collaboration as the gateway to Web3's "next frontier." By eliminating intermediaries, boosting transparency, and safeguarding privacy in the physical realm, Elastos and IoTeX are effectively bridging the digital and physical worlds, supported by the security and credibility of Bitcoin.