What is Botanix?
Botanix Labs aims to revolutionize Bitcoin, transitioning it from an unparalleled currency to the foundational layer of future finance through infrastructure development. Our pioneering approach involves constructing the inaugural fully decentralized EVM-equivalent Layer 2 atop Bitcoin, combining EVM's flexibility with Bitcoin's decentralization and security.
By harnessing Bitcoin's Proof-of-Work (PoW) as Layer 1 for fundamental settlement and decentralization, Botanix implements a Proof-of-Stake consensus model. This model secures stakes (in the form of bitcoin) on Spiderchain, a distributed network of decentralized multisigs protected by a randomized subset of participants. This innovative framework allows individuals to stake their Bitcoin directly on Bitcoin, paving the way for a new era of programmable finance.
How does Botanix support the Bitcoin ecosystem?
- Decentralized BTC Layer 2: Botanix revolutionizes the Bitcoin ecosystem by enabling decentralized Layer 2 solutions. Through BEVM integration, developers can craft smart contracts and decentralized applications (dApps) atop the Bitcoin Network, leveraging its security while broadening utility. This advancement fosters scalability, interoperability, and innovation in financial services and decentralized exchanges, enriching the Bitcoin ecosystem.
- EVM Compatibility: Botanix seamlessly integrates Bitcoin with the Ethereum Virtual Machine (EVM) and its ecosystem. This integration enhances compatibility and interoperability between the two networks, unlocking new possibilities for cross-chain functionality.
- Scalability: Botanix builds a second layer on top of Bitcoin. A layered approach provides less complex designs and as a result, less security assumptions. Every layer can be optimized for different aspects like speed, security and others. Cryptography and security inheritance ensures that upper layers inherit some or all of the security aspects of lower layers.
What are the main use cases that Botanix supports?
- DAOs
- DeFi
- Gaming
- NFTs
