The Mainnet of Botanix, a network designed to bring Ethereum-equivalent tools to the Bitcoin ecosystem, has gone live, which cuts the time it takes to add new blocks to five seconds from 10 minutes.
The network is compatible with Ethereum -Virtual Machine (Evm)The software that drives Ethereum Blockchain, allowing Ethereum-based applications and smart contracts to be copied and deployed on Bitcoin, Developer Botanix Labs said in an email.
Botanix is one of several projects trying to scale Bitcoin Blockchain and make it a more conducive place for decentralized funding (Defi) By improving its utility and programmability.
Others include Rodstok, Stacks and Bob (“Build on Bitcoin”)As everyone has adopted the BitVM Computing paradigm, which can make complex calculations to verify on Bitcoin, which paves the way for Smart Contract Delivery, similar to Ethereums.
The expansion of Bitcoin’s tool would allow developers to take advantage of the value contained in BTC, which dwarves over all other digital assets.
“Fully decentralized” BTCFI
Botanix Labs also emphasized its decentralized management structure. The Mainnet launch coincides with its transition to being served by a foundation of 16 node operators. Botanix said it expects the number to grow beyond 100 by 2026.
The founding union includes some of the biggest names in cryptocurrency, including as Mike Novogratz’s financial service company Galaxy Digital and Crypto Custody Specialist Fireblocks.
“If we want a world that runs on Bitcoin, we need to build systems that honor its central principles of self -insurance, open participation and global fault tolerance,” Botanix Lab’s CEO Willem Schroé said. “Too many bitcoiners have been burned by centralized platforms, which is why Botanix is fully decentralized by launch. No single party, including us, can touch a user’s bitcoin.”
More products that will form the basis of Botanix’s Bitcoin Defi (Btcfi) The offer also debuted in connection with the Mainnet launch. These include BTC stacked stableecoin palladium and decentralized exchange Bitzy.
