It all started when the core bitcoin users and the community was not happy that it can't do smart contracts, DeFi like the Ethereum. And so they decided to work on the layer 2 solutions. In such case, Ethereum like layer 2 solutions are now possible as more and more layer 2 solutions are being deployed on the bitcoin layer 2. Lightning network payment service was one such layer 2 system. 

Currently only 15 DeFi projects are expected to be launched on the mainnet. And in near future we would be seeing some more projects being created. I think the goal of smart projects, DeFi and ability to add more projects on the network would be making some value there. 

Just like Ethereum virtual machine they would be creating their own ecosystem with the bitcoin layer 2. And it would be interesting to see how the development has been going on lately. 

World is changing. Bitcoin is now accepted by govt. And more of market is accepting bitcoin and a lot of blockages in the crypto world is now gone. More and more things are turning the centralized. And in near future we are going to be seeing some really good changes in the upcoming market too. So if things are to be properly moving ahead the layer 2 solutions are need of the hour. Let's see if that helps out with the bitcoins development in this space. 

You can check out Build on Bitcoin here.