Dialogue between Bitlayer, CKB and Bool Network: A big debate between different schools of thought on Bitcoin's second layer

Chainfeeds Introduction:

Geekweb3 talked with guests from Bitlayer, CKB, and Bool Network to discuss many issues related to the second layer of Bitcoin, including technology, values, views on the capital market and well-known projects such as the Lightning Network and RGB, the trustlessness of cross-chain bridges, and the path to breaking through the Bitcoin ecosystem.

Article Source:

https://mp.weixin.qq.com/s/3nJhHGUSaU1wIQhg9mrz4g

Article author:

Faust

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Kevin He: First of all, I think that the proposed BTC layer 2 model is almost ready. The core issue is to make people believe that your layer 2 is safe enough, which is more critical. In terms of technical routes, there are different paths such as BTC on-chain verification and off-chain verification. If it is on-chain verification, it means verifying Layer2 on the first layer of Bitcoin. For off-chain verification, there are different methods such as client verification, isomorphic binding, multi-signature, POS, etc. Generally speaking, there are more technical schools than six months ago. Regarding the development of the Bitcoin ecosystem, because we are also raising funds, we can feel that the major players in the capital market have basically made a move, and there are relatively few institutions that have not made a move at all. In the West, especially in North America, large investors often only invest in one direction or one project. From the perspective of financing, there will not be many important new players in the Bitcoin ecosystem. The institutions that should make a move have almost made their investment, and new project parties may not be able to raise money. The current situation is much clearer than six months ago. From the perspective of user or market performance, we may have entered an adjustment period.

Baiyu: I think there is no clear standard for Bitcoin L2. It is not what Bitcoin Magazine says. Since there are so many technical solutions, each one has its own focus and different opinions. As for our CKB views, CKB architect Jan wrote a tweet at the beginning of the year. The core view is that the Bitcoin ecosystem should be a flexible layered currency system. Bitcoin is gold, like a central bank. Then it is distributed, and Bitcoin will flow into any place it wants to go. So CEX is also the second layer of BTC, and the Lightning Network is also the second layer. Bitcoin can be used as payment in it, and the side chain is also. So I think that meeting the above conditions is to some extent the second layer of Bitcoin. Its core is a currency system. You have to admit that Bitcoin is a major payment tool in your country, and then you have to admit the value of this currency. This is the most important thing. Secondly, we have some additional views. What we value most is inheriting some of Bitcoin's design philosophy and some of its values, such as the value of PoW and the design of UTXO. We think that this is the most important innovation brought by Satoshi Nakamoto or Bitcoin, which was not available before.