Bitcoin Layer 2s Aim to Attract Ethereum-Like Dapps. Will They Succeed? - Ep.638

8 snips

Apr 30, 2024

Guest

Orkun Kılıç

In this engaging discussion, Alexei Zamyatin, co-founder of Build on Bitcoin, Willem Schroé, founder of Botanix Labs, and Orkun Kılıç, co-founder of Chainway Labs, dive into the world of Layer 2 solutions for Bitcoin. They explore the innovative approaches each project takes, from Zamyatin’s hybrid Layer 2 to Botanix's unique 'Spiderchain' and Kılıç's pioneering zk-rollup, Citrea. The trio highlights the potential for improved scalability, security challenges, and the exciting possibilities of bridging Bitcoin with Ethereum-based DApps.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

INSIGHT

BOB's Hybrid Approach

Build on Bitcoin (BOB) is a hybrid Layer 2 solution aiming to bring innovation back to the Bitcoin ecosystem.
It connects to both Bitcoin and Ethereum to facilitate user access and wider use cases.

INSIGHT

BOB's Connection to Ethereum

BOB leverages existing infrastructure by connecting to both Bitcoin and Ethereum networks.
This allows for easy onboarding of ETH users and assets and facilitates future exchange integrations.

INSIGHT

Bitcoin Derivatives on Layer 2s

Bitcoin on any layer two, including BOB, is a derivative, requiring users to deposit Bitcoin into a system.
Bridging always involves custody, either secured by statistical security or economic security.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

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!

Polkadot

Guests:

Willem Schroé, founder of Botanix Labs
Orkun Kılıç, cofounder of Chainway Labs
Alexei Zamyatin, cofounder of Build on Bitcoin

Bitcoin Layer 2s Aim to Attract Ethereum-Like Dapps. Will They Succeed? - Ep.638

BOB's Hybrid Approach

BOB's Connection to Ethereum

Bitcoin Derivatives on Layer 2s

Show highlights:

Thank you to our sponsors!

Guests:

Links