– 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 bridge to the broader financial system, including security and commodity markets.
– Botanix Labs aims to connect the Bitcoin and Ethereum ecosystems through its “Spiderchain” technology, which implements EVM to EVM bridges.
– Schroé criticizes current solutions involving wrapped Bitcoin on Ethereum, arguing that they are susceptible to censorship and regulatory scrutiny.
– The proposal to bring Ethereum functionality to Bitcoin through “drivechains” is also being discussed by Bitcoin developers.
– Not everyone supports the idea of expanding Bitcoin’s ecosystem beyond its current use cases, with some expressing concerns about scams and the need for multiple tokens.
– Schroé believes that bringing together Bitcoin and Ethereum could create new applications with decentralization and security as core principles.