Botanix Labs Launches First EVM-Equivalent Layer 2 Testnet on Bitcoin

Botanix Labs Launches First EVM-Equivalent Layer 2 Testnet on Bitcoin
фото показано с : bitcoinmagazine.com

2023-11-30 20:40

Botanix Labs has officially launched the first-ever fully decentralized Ethereum Virtual Machine (EVM) equivalent Layer 2 on Bitcoin, according to a press release sent to Bitcoin Magazine. This represents over a year of dedicated research and development by the team, with a focus on enhancing user experience.

"We want to make it as easy as possible to start building on Bitcoin," said Willem Schroe, the Founder and CEO of Botanix. The initiative stems from the team's ambition to propel Bitcoin beyond its status as the pinnacle of digital currency and position it as the cornerstone of a novel decentralized financial ecosystem.

At the core of this initiative is Spiderchain, a decentralized network of multisigs empowering anyone to operate a full Botanix node and participate in the network. Introducing forward security, a concept derived from encryption systems, Spiderchain facilitates low-cost, swift transactions for Bitcoin deployments.

The innovative aspect of Botanix's Spiderchain is its seamless compatibility with Ethereum's EVM smart contracts. This compatibility enables developers to effortlessly replicate and deploy any EVM smart contract onto the Botanix testnet using Bitcoin.

Casa's co-founder & CTO Jameson Lopp, in his analysis of the Spiderchain's whitepaper, highlighted its implementation on Bitcoin without necessitating any protocol alterations at the base layer. “While there are a variety of proposals being discussed for enhancing Bitcoin's Layer 2 capabilities…one distinction with spiderchains is that they can be implemented on Bitcoin today without any protocol changes to the base layer,” he said.

Botanix Labs is now forging ahead to incubate the first-ever Bitcoin-enabled DeFi and NFT ecosystem. The testnet encompasses a Signet Bitcoin faucet, a bridge, and AvocadoSwap, akin to PancakeSwap, facilitating token swaps.

Moreover, Botanix is launching the "Botanix Testnet Accelerator," inviting 10 startups for enhanced BD support, co-marketing, and development resources ahead of the mainnet launch slated for early next year. Selection criteria encompass the product's development, transaction activity, and business potential.

The Botanix testnet is available for trial, inviting feedback from users at here. 

Disclaimer: UTXO Management is an investor in Botanix. UTXO's parent company, BTC Inc., is also the parent company of Bitcoin Magazine.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Crypto Focus (FCS) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 FCS

research development team user experience enhancing focus

Источник: bitcoinmagazine.com

research development → Результатов: 126


Jump Crypto разработает новый клиент для Solana

Solana Foundation и венчурная фирма Jump Crypto объединили усилия для создания клиента-валидатора для повышения децентрализации и производительности блокчейна Solana. Firedancer is now 🔥💃 We’re excited about the opportunity to help scale the Solana network by engaging our strong-arm in research and development.

2022-8-17 13:10


Vinteum Will Train And Sponsor Bitcoin Developers In Brazil And Latin America

The planet needs Vinteum because “we need developers from all over the world to build this global internet-native money.” What is Vinteum? In the post announcing the organization’s existence, they describe themselves as “a non-profit Bitcoin research and development center dedicated to supporting Bitcoin developers in Brazil and the wider Latin America region. We will […]

2022-8-11 08:05


EU Premiere: Web3 Decentralized Domains And Institutional NFT Marketplace Under Development By Romania’s ICI Bucharest Using Elrond Network Blockchain Technology

Bucharest, Romania, June 14th 2022 – Romania’s National Institute for Research and Development In Informatics – ICI Bucharest (ICI)  announces that work is underway for building an institutional NFT marketplace and a decentralized Domain Name System (DNS/TLD) based on the highly scalable and carbon-negative Elrond Network blockchain.

2022-6-14 12:33


Фото:

Cardano price movement: how will the Basho phase impact the value of the ADA token?

Cardano ADA/USD is a Proof-of-Stake (PoS) blockchain network that is founded on peer-reviewed research and has seen a consistent level of development through evidence-based methods.   Cardano is designed to be a decentralized application (dApp) development platform that features a multi-asset ledger and verifiable smart contracts powered by the ADA token.

2022-1-19 20:46


Фото:

Study finds that the blockchain can play a key role in CBDC development

The blockchain can play a pivotal role in developing central bank digital currency (CBDC) platforms across the globe. A press release unveiled this news on December 12, noting that Eesti Pank, the central bank of Estonia, and Guardtime, a renowned European deep tech company, conducted a joint research project and found blockchain technology has multiple […] The post Study finds that the blockchain can play a key role in CBDC development appeared first on Invezz.

2021-12-14 18:41


Dr. David Tse of Stanford becomes advisor to layer zero protocol Subspace

Subspace Labs, a distributed research and development company behind the Subspace Network, today announced the appointment of Dr. David Tse to its advisory board. Tse, who is also a distinguished professor of electrical engineering at Stanford University, brings extensive expertise as a leading researcher in the areas of blockchain scalability, security, and sustainability.

2021-10-27 21:16


Фото:

TECNALIA ties with Chainlink to explore oracles applications beyond DeFi

TECNALIA, a renowned research and technological development center in Europe, has joined hands with Chainlink Labs to identify scenarios in which they can apply oracles beyond the DeFi Sector. A press release unveiled this news on September 13, noting both organizations seek to introduce hybrid smart contracts and oracles in leading global industries.

2021-9-16 20:13


IOTA selected to participate in the European Blockchain Services Infrastructure (EBSI) network

The IOTA Foundation, the non-profit supporting the research and development of new distributed ledger technologies (DLT), including the IOTA Tangle, announced today it been selected to participate in the pre-commercial procurement process for the European Blockchain Services Infrastructure (EBSI), a network of blockchain nodes across the European Union (EU).

2021-9-7 15:08


Stablecoin aggregator dApp BabelFish raises $5.8M via Sovryn Launchpad

BabelFish, a stablecoin aggregator on Rootstock, has completed a successful fundraise totaling $5. 8 million via a listing on Sovryn’s Origins Launchpad, the first organization to do so. Funds raised will enable BabelFish users to vote on protocol upgrades, reward the community for work completed, and conduct research and development to sustainably increase AUM and integrations.

2021-9-2 19:07


Cardano (ADA) sets price highs ahead of smart contract update

Input-Output Hong Kong (IOHK), a blockchain infrastructure research and engineering company behind the development of the proof-of-stake Cardano (ADA) platform is on track with completing its smart contract mission as the announcement of the hard fork date, which will mark the downing of the new era, boosted the token’s price to its record high of […] The post Cardano (ADA) sets price highs ahead of smart contract update appeared first on CryptoSlate.

2021-8-22 09:08


Фото:

China Reveals Digital Yuan White Paper: Smart Contracts, $5.4B Settled, Large Transfers Traced

The working group involved with the research and development of the digital yuan for the People’s Bank of China (PBOC) has published a paper describing the digital currency’s progress. The PBOC initiated a task force dedicated to the creation of a digital yuan in 2014, and the recently published document is the project’s first white […]

2021-7-17 21:30


Фото:

SatoshiPay receives grant from Stellar to develop layer-2 Pendulum blockchain

SatoshiPay, a blockchain-powered payment solution built on Stellar, announced that it has received a research and development grant from the Stellar Development Foundation to start the development of the Pendulum network — a new second-layer blockchain that connects Stellar to the wider DeFi ecosystem by adding smart contract support and bridges to Ethereum and Polkadot.

2021-6-8 04:05


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Morningstar sounds alarm on SpaceX as bulls target $190

SpaceX shares have drawn a fair value estimate of $63 from Morningstar even as bullish forecasts have pushed price targets as high as $190 following the company’s public market debut. According to a Wall Street Journal report, analysts at Morningstar…

Greece moves to close crypto tax gap with new 15% proposal

Greece has prepared plans for a 15% cryptocurrency capital gains tax as officials move to bring digital assets into the country’s tax system. According to a report, Greece’s Finance Ministry is drafting legislation that would impose a 15% tax on…