Botanix Labs is working with Ankr and Asphere to develop Spiderchain, a new Layer 2 (L2) solution for Bitcoin. This collaboration aims to improve accessibility, scalability and reliability for Bitcoin builders and users within the Spiderchain ecosystem.
🚀 We’re excited to share that Ankr & Asphere are teaming up with @BotanixLabs to play a critical role in creating the Spiderchain L2!
The Spiderchain is a groundbreaking project that brings smart contracts to the Bitcoin network!
Let’s get into the details 🧵 pic.twitter.com/IV1xxZ1CAd
— Ankr (@ankr) July 18, 2024
Botanix Labs is pioneering infrastructure to transform Bitcoin beyond its role as sound money into a programmable layer fundamental to the future of finance. Their innovative approach includes creating Spiderchain, the first fully decentralized EVM equivalent L2 on Bitcoin. This layer leverages the security and decentralization of Bitcoin’s Proof-of-Work (PoW) as the basic settlement layer, combined with a Proof-of-Stake (PoS) consensus model. Bitcoin will be staked securely on Spiderchain through a network of decentralized multisigs, allowing anyone to stake their BTC on the Bitcoin network.
Need for advanced solutions
According to the company, to build Spiderchain, Botanix Labs required advanced solutions including technical assistance from a leading Web3 infrastructure provider, Layer 2 design and staking expertise, and powerful RPC node operations for developers. Ankr and Asphere’s extensive experience in blockchain solutions made them the ideal partners for this endeavor.
Ankr and Asphere provide customized services to Botanix Labs, including technical assistance in creating the Spiderchain L2. Their team, known for working with big blockchain names like Microsoft, Binance and Polygon, is helping Botanix Labs design a custom architecture for Spiderchain. This includes implementing mechanisms such as staking, consensus, multi-sigs and managing the network to ensure its smooth operation.
Ankr and Asphere will deploy and operate a global network of Spiderchain nodes. This network will provide developers with public and private endpoints, allowing them to connect to the blockchain. The Remote Procedure Call (RPC) connections will be critical, allowing developer wallets, command line interfaces, and decentralized applications (dApps) to communicate with the Spiderchain main network nodes.
Botanix Labs selected Ankr and Asphere for their unparalleled experience in creating scalable blockchain infrastructure across diverse ecosystems. Their expertise in blockchain design and development aligns perfectly with Botanix Labs’ vision for seamless and timely development of the Bitcoin L2 solution.