Kryptodata

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  • BTC Dominance: 51.91%
Web3 executive believes Bitcoin requires Ethereum VM for maximum potential

Web3 executive believes Bitcoin requires Ethereum VM for maximum potential

– 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.

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