Bitcoin Layer-2 Network Botanix launches MAINNET, TOUTS Decentralization ‘From the Start’

Botanix, A Bitcoin-Based Layer-2 Blockchain, on Tuesday his Mainstet debut, said Botanix Labs, the maker of the network, in a press release.

The network tries to support decentralized finances, or DefiApplications, by combining aspects of Ethereum’s design with the oldest network of Crypto. Botanix supports trade, borrowing, borrowing and stake “Everything in Bitcoin on Bitcoin,” the company said in a press release.

Botanix, which was founded in 2023, said that his network was ‘from the start’ decentralized, with a so -called federation of junction operators who could theoretically prevent Botanix from claiming control over the network. Galaxy Digital and Fireblocks are among the 16 entities agreed to run Botanix nodes independently, the company said.

“If we want a world that runs on Bitcoin, we have to build systems that are the core principles of self-confident,” said Botanix Labs co-founder and CEO Willem Schroé. “No party, including us, can touch the bitcoin of a user.”

Under decentralized applications that debut on Botanix, Botanix Labs, a money market and decentralized exchange protocol and GMX, emphasized another decentralized exchange that specializes in eternal futures with a maximum of 100x leverage.

Botanix is ​​invoiced as an “EVM equivalent” network. That means that developers are familiar with the virtual machine from Ethereum, or EVMShould be able to portray existing applications without a change, while they can use aids that are familiar to them.

“Bitcoin is our guest smoking, Bitcoin is our settlement layer, and our goal is really to build an endogenous Bitcoin financing ecosystem,” Botanix said co-founder Alisia Paininter Decrypt in May. “The EVM is really the game changer to bring many of these applications to Bitcoin.”

Although Bitcoin’s core software has been built pure around financial transactions, a number of projects have tried to extend Bitcoin utilities. When the ordinals arrived in 2023, the technology was used to make Bitcoin-Native music” gamesand NFT-like art collections. The later BRC-20- and Runes protocols added the possibility to launch fungible tokens on Bitcoin, and more recently said stablecoin-emittent tether tether launch USDT on Bitcoin.

For $ 2.1 trillion, Bitcoin represents around 62% of the value of the crypto market, according to Crypto Data Provider Coentecko. Projects such as Botanix are aimed at using the deep reserves of investors to power Defi applications and to increase the usefulness of the asset than buying and keeping the power. Whether it is SUI, Cardano or Aptos, Layer-1 networks have recently searched Bitcoin -Integrationsat.

In March a research analyst at Crypto Exchange Binance written That Bitcoin-based Defi has the potential to unlock billions in a sleeping BTC liquidity and to improve Bitcoin’s capital efficiency “, while they can also help Bitcoin investors achieve a better return.

In addition to Botanix’s Mainstet launch, the company said that the “Bitcoin 2100” introduces. The based game that players learn “what is possible when Bitcoin becomes programmable”, enables them to collect small quantities of “free bitcoin”, the company said.

Published by James Rubin