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In this episode of Unchained Premium, Laura spoke with Willem Schroe of Botanix Labs, to discuss the company's innovative Layer 2 built on Bitcoin and its implications for the ecosystem.
Show Highlights:
Willem’s explanation of Botanix, a second-layer Ethereum Virtual Machine (EVM) built on Bitcoin, aimed at enabling smart contract capabilities on the Bitcoin network.
What the advantages are of having EVM smart contracts on Bitcoin
The technical aspects of the Layer 2, focusing on how it bridges the gap between Bitcoin's UTXO (Unspent Transaction Output) model and Ethereum's account model, maintaining decentralization and security.
The concept of the Spiderchain and decentralized multi-signature wallets (multisigs).
The potential risks and rewards for users participating in the Botanix ecosystem, including considerations for Bitcoin holders who might engage in staking or liquidity provision.
The broader implications of integrating EVM capabilities with Bitcoin, such as the potential for increased transaction fees on Bitcoin's layer one and the overall impact on the network's security.
How Botanix could grab market share from Wrapped Bitcoin (WBTC).
The community's mixed reactions to Botanix Labs' approach, acknowledging the diversity of opinions within the Bitcoin community and the evolving perception of EVM layers on Bitcoin.
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