Bankless Are Bitcoin L2s Real? with David Seroy (Bitcoin Dave)
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Feb 21, 2024 David Seroy, also known as Bitcoin Dave, is an armchair researcher passionate about Bitcoin's rollup ecosystem. In this engaging discussion, he dives into the reality of Bitcoin Layer 2 solutions and whether they're truly viable. The conversation highlights the potential of projects like BitVM and the challenges facing scalability with the Lightning Network. David paints an optimistic picture of Bitcoin's future, exploring innovative technologies and the ongoing evolution of its functionality within the cryptocurrency space.
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Bitcoin L2 Rollups
- Bitcoin can support L2 rollups, depending on the rollup type, need for soft forks, and acceptable trust level.
- BitVM is a potential solution, enabling ZKP verification on Bitcoin L1 without a soft fork, but with a one-of-n trust assumption.
Bitcoin's Scaling Evolution
- Bitcoin’s scaling journey mirrors Ethereum’s, with initial explorations of sidechains and Lightning Network.
- A renewed interest in rollups emerges as limitations of previous solutions become apparent, similar to Ethereum's shift from state channels.
Bitcoin's Monetary Focus
- Bitcoin Dave values Bitcoin's monetary properties over Ethereum’s, believing money is the core application.
- He sees a need to combine Bitcoin’s monetary strength with Ethereum’s technical advancements, like scaling solutions and DeFi.