btw this is going live on june 30th
some changes coming to the frontend
gotta make space for the new l2s coming to market
.@BitcoinLayers is implementing a minimum standard to be considered a bitcoin layer.
Merlin Chain, Bsquared Network, Core, Bitlayer, BOB, Rollux, BEVM, Libre, and Fractal do not currently meet these standards, and will be moved to the alternative chains category if changes are not made by June 30th. Projects now must be bitcoin native or bitcoin sidesystems to be considered bitcoin layers.
All bitcoin layers must have at minimum an official, federated two-way peg and operator set where operators are disclosed.
Additionally, we define the sidesystem category as blockchains that meet one or more of the following:
-are BTC-denominated
-are secured by native BTC
-rely on bitcoin for consensus
-rely on bitcoin for transaction finalisation
-support interactions with L1 scripts or PSBTs
Bitcoin native protocols are those by which users can exit the system unilaterally. Statechains, Arks, and the Lightning Network can provide this to users.
Some use cases warrant sidesystem designs. Others, bitcoin native.
Still, the ecosystem should hold projects more accountable for shortcomings related to security and trust-minimisation.
Our work is to ensure users are informed about the trust assumptions related to the use of BTC in offchain environments. This call to action is the first step towards pushing projects to improve their designs and make their systems more secure for users.
I understand that it hurts most chances for me to get funding if I don't participate in the "it's a L2!" game, but that's not why people asked me to build this. So we carry on.
1.4K
15
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.