Solving Bitcoin interoperability through a “layer 0” network can unlock its full potential in Web3.
Opinion by: Bob Bodily, co-founder and CEO of Bioniq
One of the biggest problems holding back broader adoption of the Web3 world is liquidity fragmentation. So much space is locked on certain networks. There is perhaps no more significant example than Bitcoin (BTC).
Despite all the good done in the broader decentralized finance (DeFi) space, there’s no good way to connect the single largest asset by market capitalization to most of these services. Until now, existing solutions have struggled with Bitcoin’s lack of native smart contract support, security concerns with wrapped tokens, and the tradeoffs of integrating with Bitcoin’s unique architecture.
