Botanix L2 mainnet goes live, cuts Bitcoin block times to 5 seconds
2025-07-01 18:44:45
Main Idea
Botanix Labs has launched a decentralized Bitcoin Layer 2 mainnet called 'Spiderchain,' which aims to enhance Bitcoin's utility beyond being a store of value by offering Ethereum Virtual Machine compatibility and low transaction fees.
Key Points
1. Botanix Labs' Bitcoin Layer 2 mainnet is backed by a decentralized federation of 16 node operators, including Galaxy, GMX, and Dolomite.
2. The network, named 'Spiderchain,' processes transactions with an average fee of $0.02 and offers five-second finality while preserving native Bitcoin custody.
3. Unlike other Bitcoin Layer 2 solutions, Botanix avoids centralized sequencers, federated bridges, or wrapped assets, focusing on full decentralization.
4. Major DeFi protocols like GMX and Dolomite have already deployed on the network, reducing reliance on risky BTC-pegged tokens on Ethereum.
5. The main challenge for Botanix is proving that Bitcoin users actually want enhanced utility beyond store of value, rather than technological hurdles.
Description
Botanix isn’t the first to promise smart contracts on Bitcoin, but it may be the first to deliver them without centralization and possibly cut BTC block times to five seconds. Its mainnet launch signals a new phase in the evolution of Bitcoin’s utility beyond store of value. According to a press release , Botanix Labs has officially launched its Ethereum Virtual Machine-compatible Bitcoin ( BTC ) Layer 2 mainnet, backed by a decentralized federation of 16 node operators, including Galaxy, Firebl...
Latest News
- Belgian Court sentences three for crypto coach’s wife kidnapping2025-07-04 12:19:31
- SOL gets fresh institutional push as Nasdaq-listed firm expands treasury with $2.7m2025-07-04 11:32:52
- Amber International raises over a quarter of $100m goal to boost crypto holdings2025-07-04 11:32:05
- Analysis: Bitcoin could reach $120K in July amid BTC market maturity2025-07-04 11:29:14
- $2.4B lost in 2025 H1 crypto hacks — exchanges and DeFi hit hardest: report2025-07-04 11:16:45