Building Botanix, Bitcoin Layer 2, which brings EVM to Bitcoin

That’s a very good question. I was actually a proof-of-work maximalist before designing SpiderChain, but then I realized that the second layer of proof-of-work doesn’t really make much sense. So I researched Proof of Stake and read all the different white papers. When Ethereum merged with Proof-of-Stake in 2022, many Bitcoin users retweeted it, including Jack Dorsey. article About why Proof of Stake is not secure. So I read the article. Building with Proof of Stake in the second layer actually solves each claim. Let’s take a quick look at the argument. The first is an economic argument. Proof of Work is a leaky system while Proof of Stake is a closed system. This means that proof-of-work has a decentralization trend. You have to pay for electricity, which leaks value out of the system. Bitcoin becomes increasingly decentralized over time as its value leaks out into the real world. Proof of stake is the opposite. In practice, there is a tendency toward centralization. Stakers earn increasingly larger portions of the total 100% stake in the asset over time. As a layer 1, as a currency it doesn’t make much sense.