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

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 30 April 2024

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 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 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I think that Bitcoin is like a store of value or like medium of exchange in the future
0:05.8	but what we see is Bitcoin is the full global money. You want Bitcoin to like
0:10.6	see as bit full global money.
0:12.6	But without having a real economy around it,
0:14.8	you can actually have like,
0:16.0	you can't have a currency or money.
0:18.0	It is just a payment protocol if you just do
0:20.1	a medium of exchange or if you just store the values is like just digital gold but we want more than that.
0:26.1	We want to do every single financial activity we do with Bitcoin.
0:30.0	We want to get Bitcoin-backed loans, to compete with USDA, with let's say
0:35.2	Bitcoin-backed stable coins and Bitcoin-backed stable coins for example.
0:39.2	Hi everyone, welcome to Unchained, your no-hype resource for all things
0:46.4	crypto. I'm your host Laura Shin, author of The Cryptopians. I started coming
0:51.5	crypto eight years ago and as a senior editor at Forbes was the first
0:54.7	matry media reporter to cover cryptocurrency full-time. This is the April 30th
0:58.7	2024 episode of Unchained.
1:01.0	Pocodot is the original and leading Layer Zero blockchain with over 2,000 plus developers.
1:06.6	And the Pocodot 2.0 upgrade will be a massive accelerator for the ecosystem, making it faster,
1:12.1	more secure and adaptable, perfect for GameFi and Defi to build, grow, and scale.
1:18.0	Join the community at Pocodot. Network slash ecosystem slash community.
1:23.0	Hey unchained listeners, as you know it's hard keeping up with a fast-paced world of
1:28.0	crypto so we've got just the thing for you.
	...

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