 | Botanix LabsBotanix is a fully equivalent Layer 2 EVM on Bitcoin. Botanix unites Bitcoin’s market cap with Ethereum’s dApp ecosystem, fusing the best of both worlds. Botanix is fully equivalent so your dApps will transfer seamlessly. Pre-Seed Round: $3 Million Seed Round: $8.5 Million IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice. |
Overview
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OpenWhat is Botanix Labs
Botanix Labs is a company aiming to combine the strengths of both Bitcoin and Ethereum. Botanix Labs introduces an infrastructure solution where the ease of Ethereum meets the security of Bitcoin.
The Botanix Protocol builds an Ethereum at a Layer 2 on top of Bitcoin. We've literally forked Ethereum and put it on Bitcoin. Leveraging Bitcoin's Proof-of-Work (PoW) as a Layer 1, it offers developers Bitcoin's robust security and a decentralized network while benefiting from the vast capabilities and ease of development provided by Ethereum.
Botanix will use a Proof-of-Stake consensus model, where the stakes (represented by actual bitcoin) are securely stored on the Spiderchain, a distributed network of decentralized multisigs safeguarded by a randomized subset of participants. You will be able to stake your bitcoin on Bitcoin.
DetailsRaised: 11,500,000 USDLegalRegistration year: 2023 |
Botanix Labs Roadmap
Single node
As a very first step, we launch a single Botanix node running the ethereum 1.0 client consensus code, meaning that there are no other nodes on the network to communicate with and share state transits with.
Features:
- Bridging
- Faucet
- Deploying dApps
Federated EVM sidechain
Secondly, we will build what has worked before: A federated EVM Sidechain on Bitcoin. In this version, we adopt a federated model. A single multisig set is established with known trusted federated members. We will utilize a round-robin proof-of-authority consensus model with N federation members. This design is comparable to Liquid (on Bitcoin) and Polygon (on Ethereum).
Features:
- Full EVM equivalence (like Polygon)
- Secured by a permissoned Federation.
Permissioned PoS
Building on the previous version, federation members now need to stake bitcoin after joining the federation. This introduces a new dimension to the consensus mechanism. It is worth noting that federation members are not slashed if they are not following consensus rules. There will be chain-halt until a new block producer is chosen.
Features:
- Bitcoin staking
- Proof of Stake
- Bitcoin Verifiable Random Function (VRF)
Launch of Mainnet
Once the design is confirmed and battle-tested, mainnet will be launched.
The mainnet will include a permissioned staking for selected partners.
In the initial bootstrapping phase, the Botanix foundation will act as a safeguard to ensure protocol safety until the staking pools are sufficiently decentralized.
Slashing
Federation members will now be slashed if they are not following the consensus rules or they are unresponsive in any kind
Features:
- Slashing
Spiderchain Dynafed
Spiderchain Federation introduces a series of multisigs, with a subset of federation members chosen to represent each multisig.
Features:
- Series of multisigs
- Sophisticated UTXO + wallet management
Permission-less staking
Once sufficient Bitcoin is staked on the network, and the network is sufficiently decentralized, we will allow permission-less staking.
Any person in the world will then be able to join and secure the network.
Fully decentralized Layer 2
Botanix will join the Lightning Network as the only fully decentralized and permission-less layer 2. Every person in the world will be able to run a full node, verify and join the network.
Project team
Advisors
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