News Explorer — How ‘Spiderchain’ Plans to Build Ethereum on Bitcoin

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Sep 18, 10:47 pm

Decrypt

How ‘Spiderchain’ Plans to Build Ethereum on Bitcoin

Spiderchain, a project developed by Botanix Labs, aims to unlock Bitcoin's programming potential by creating a 2-way pegged sidechain. The Spiderchain operates as a Proof of Stake Layer 2 on Bitcoin, allowing users to stake Bitcoin on Bitcoin in decentralized multisigs. It is Ethereum Virtual Machine-compatible and offers scalability, programmability, and privacy features similar to Ethereum.

Spiderchain, a project developed by Botanix Labs, aims to unlock Bitcoin's programming potential by creating a 2-way pegged sidechain. The Spiderchain operates as a Proof of Stake Layer 2 on Bitcoin, allowing users to stake Bitcoin on Bitcoin in decentralized multisigs. It is Ethereum Virtual Machine-compatible and offers scalability, programmability, and privacy features similar to Ethereum.

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