Bitcoin L2s: The Good, The Bad, The Ugly Jan, who runs the site @BitcoinLayers that evaluates Bitcoin L2s, shared his thoughts on Bitcoin layers. 1/ We say some L2s are good, some are bad, and some are weird... but in reality, there is no absolute good or evil when evaluating these systems. Everything ultimately comes down to a trade-off. 2/ I believe that the ideal form of Bitcoin L2 is a rollup, and if we could apply Zcash's method to Bitcoin, it would truly transform Bitcoin into a genuine P2P medium. 3/ The core of Bitcoin L2 consists of three things: '1. It should enable payments in Bitcoin units outside the main chain (L1), 2. Users should be able to leave the system independently without anyone's help at any time, 3. Above all, users should have verifiable custody guarantees for their funds' = users must be able to directly dispose of their funds on L1 at any time. 4/ Lightning and ARC meet these conditions, but the others do not. State chains, rollups, custodial models,...
at @btc_summit, bitcoin layers' lead maintainer finally defined what a bitcoin l2 is and why it doesn't matter. he also shared our project's holistic approach to analyzing offchain usecases for bitcoin. watch below ๐
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