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Web3 executive emphasizes Ethereum VM as essential for unlocking Bitcoin's complete potential

Web3 executive emphasizes Ethereum VM as essential for unlocking Bitcoin’s complete potential

In a recent interview, Willem Schroé, the founder of Botanix Labs, argued that Bitcoin needs to connect to the Ethereum Virtual Machine (EVM) in order to capture the value of real-world assets. Schroé believes that Bitcoin’s potential won’t be fully realized until it can bridge to the broader financial system and interact with security and commodity markets. He sees connecting Bitcoin to Ethereum-based assets, stablecoins, decentralized finance, and nonfungible tokens as the first step in this direction. Botanix Labs aims to facilitate this connection through its Spiderchain, a proof-of-stake layer 2 that implements EVM to EVM bridges. Schroé believes that the current solutions involving wrapped Bitcoin on Ethereum are problematic and susceptible to censorship and regulatory scrutiny. He also mentions the proposal of “drivechains” to bring Ethereum functionality to Bitcoin, which is being discussed by Bitcoin developers. However, not everyone is in favor of expanding Bitcoin’s ecosystem beyond its current use cases. Despite this, Schroé believes that bringing together Bitcoin and Ethereum could lead to new applications with decentralization and security as core principles.

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