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Author: Admin | 2025-04-28
For mass adoption on Bitcoin.”In 2023, the founder of cross-chain infrastructure firm Botanix Labs, Willem Schroé — who created the Spiderchain — also argued that Bitcoin’s potential won’t be fulfilled unless it can connect to the broader financial system.In 2023, Botanix Labs began working on the Spiderchain — a proof-of-stake layer 2 that implements EVM to EVM bridges to enable Bitcoin to interact with the EVM. Its public testnet officially launched on Nov. 29, 2023.Connecting Bitcoin to Ethereum-based real-world assets, stablecoins, DeFi and nonfungible tokens via the EVM is the first step in that direction, Schroé argued. “That’s a huge amount of value and development waiting to happen.”SatoshiVM marred by controversyMeanwhile, another layer-2 community-driven project has been working on an EVM-compatible layer-2 solution to Bitcoin powered by zero-knowledge rollups — though it has been marred by controversy over a recent token launch. Launched in 2023, SatoshiVM has already tallied over 400,000 unique wallets and processed more than 4.2 million transactions, and it can connect both Bitcoin and EVM ecosystems. Its highly anticipated SAVM token launched on Jan. 19. One of SatoshiVM’s advisers, “MacnBTC,” was accused of harvesting “millions in profits” from the token launch by Ape Terminal, which they denied. The controversy caused the SAVM token to plunge as much as 38%.— ICO Drops (@ICODrops) January 31, 2024However, not all projects want to see the same expansion for Bitcoin.Another Bitcoin-based virtual machine emerged on Oct. 9, 2023, launched by ZeroSync project lead Robin Linus. However, its purpose has been to
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