Bitcoin Layer 2s Aim to Attract Ethereum-Like Dapps. Will They Succeed? - Ep.638
Unchained
Intro
This chapter explores Bitcoin's transformation from a mere store of value to a potential global currency. It includes insights from key figures in the Bitcoin Layer 2 space, highlighting innovations essential for creating a sustainable financial ecosystem around Bitcoin.
In this episode of Unchained, host Laura interviews Alexei Zamyatin, co-founder of Build on Bitcoin, Willem Schroé, founder of Botanix Labs, and Orkun Kılıç, co-founder of Chainway Labs. They discuss their respective projects, all of which are focused on developing Layer 2 solutions for Bitcoin.
Zamyatin's Build on Bitcoin is a hybrid Layer 2 that connects to both Bitcoin and Ethereum, aiming to bring innovation back to the Bitcoin ecosystem. Schroé's Botanix Labs is developing a decentralized Layer 2 solution using the ‘Spiderchain,’ which uses a series of multi-signature wallets to secure the chain. Kılıç's Chainway Labs is building Citrea, a zk-rollup on Bitcoin that aims to create a Bitcoin-backed economy.
All three projects are in various stages of development and testing, with BOB’s mainnet launch expected shortly.
Show highlights:
- Introduction to Build on Bitcoin (BOB), Botanix, and Citrea: How they aim to innovate and expand Bitcoin's capabilities, including their architectural designs that integrate Ethereum users and work toward decentralization and trustlessness
- Security Aspects and Integration Strategies: What the security risks associated with BOB, Botanix, and Citrea are, and strategies to enhance decentralization over time
- How these Layer 2s influence Bitcoin fees, and how Botanix's integration can leverage the Bitcoin ecosystem, with insights on the potential of Layer 3s and zk-rollups to transform Bitcoin's utility and fee dynamics
- How these projects aim to attract Ethereum users and developers, and the reasons why this may be an attractive opportunity for them
- How Runes, Ordinals, and BRC-20s operate on Citrea, Botanix, and BOB
- How Bitcoin is always a derivative when it’s not in its Layer 1 and the pros and cons of different bridging solutions
- The concept of forward secrecy and how it can help improve security in blockchains
- Why Willem believes that Layer 3s are possible and bullish for Bitcoin
- How "merged mining” resembles Ethereum’s restaking and why it’s positive for Bitcoin
Thank you to our sponsors!
Guests:
- Willem Schroé, founder of Botanix Labs
- Orkun Kılıç, cofounder of Chainway Labs
- Alexei Zamyatin, cofounder of Build on Bitcoin
Links
- Recent coverage on Unchained of Bitcoin L2s:
- Stacks’ Muneeb Ali On Why Bitcoin Is Exciting Once Again
Build on Bitcoin
- BOB learning documents
- Announcement of mainnet on May 1st.
- Unchained: Bitcoin DeFi App Sovryn to Deploy on Hybrid Layer 2 Network Build on Bitcoin
- Alexei’s tweet on BitVM/rollups
- Alexei went on a retreat with the inventor of BitVM
Citrea
- Unchained: Here's What You Should Know About Citrea, Bitcoin's First ZK Rollup
- Whitepaper
- Orkun Mahir Kılıç’s interview on Unchained Premium
- Citrea learning documents
- Clementine -Citrea's BitVM Based Trust-Minimized Two-Way Peg Program
Botanix
- CoinDesk: Willem Schroé: Building Botanix, a Bitcoin Layer 2 That Brings the EVM to Bitcoin
- Botanix and the Future of Bitcoin
- Bitcoin Magazine: Spiderchains: A Proof Of Stake Second Layer For Bitcoin
- Willem Schroé’s interview on Unchained Premium
Learn More:
- Unchained:
- What Is the OP_CAT Bitcoin Improvement Proposal?
- What Are Opcodes in Bitcoin? A Beginner's Guide
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