– Botanix Labs founder Willem Schroé argues that Bitcoin needs to connect to the Ethereum Virtual Machine (EVM) in order to capture value from real-world assets.
– Schroé believes that Bitcoin’s potential won’t be fulfilled unless it can connect to the broader financial system, including security and commodity markets.
– Botanix Labs aims to connect the Bitcoin and Ethereum ecosystems through its “Spiderchain,” which implements EVM to EVM bridges.
– Schroé believes that current solutions involving wrapped Bitcoin on Ethereum are problematic and susceptible to censorship and regulatory scrutiny.
– A similar proposal to bring Ethereum functionality to Bitcoin is being discussed through “drivechains” or BIP-300.
– Not everyone supports the idea of expanding Bitcoin’s ecosystem beyond its current use cases, citing concerns about scams and the need for “good money” only.
– Schroé believes that bringing together Bitcoin and Ethereum could create new applications with decentralization and security as first principles.