Overview

Botanix, a new network aimed at delivering Ethereum-like utility to the Bitcoin ecosystem, has just launched its mainnet which dramatically reduces block addition times from 10 minutes to just five seconds. The project, developed by Botanix Labs, claims that this leap in transaction speed will transform user experience.

Key Highlights

• The mainnet supports Ethereum Virtual Machine (EVM), enabling users to migrate their Ethereum applications and smart contracts to Bitcoin effortlessly.
• Botanix focuses on decentralized governance; the mainnet’s rollout supports a transition to a governing body comprised of 16 node operators, which notably includes Galaxy Digital and Fireblocks.

Future Aspirations

Botanix Labs anticipates that over 100 operators will join its governance by 2026, fostering a more open and decentralized environment.

CEO Quote

“If we aspire for a Bitcoin-driven future, we must craft systems that uphold the core tenets of Bitcoin, promoting self-custody and universal participation,” stated Botanix Labs CEO Willem Schroé. “Too many users have suffered due to centralized platforms, which is why Botanix operates fully decentralized from the start. No entity can access a user’s Bitcoin.”

Conclusion

The advancements brought by Botanix mark a pivotal step towards scaling Bitcoin’s capabilities and enhancing its utility within the decentralized finance (DeFi) landscape.