Bitcoin's layer 2 post thoughts #1
Description
It's great to see ABCDE investing in the BTC ecosystem, and I look forward to seeing you guys do more @bmanlee @hsyodyssey.
Context:
BTC layer 2s do not currently have a clear definition. Lighting, Stacks, Rootstock, Bitmap, and Bsquared are all grouped together, even though they have different security models, values, and impact Bitcoin's ecosystem in various ways (increasing fees vs reducing fees).
Question:
How do you evaluate Bitcoin layer 2s?
Suggestion:
There should be some matrix to define what constitutes a Bitcoin Layer.
- Technical alignment: Does the project follow the technical ideas behind Bitcoin (UTXOs, PoW, etc)? Will it help Bitcoin's security in the long term?
- Technical Infra: What infrastructure is required to implement this L2. As discussed in Vitalik's recent posts, many "L2s" on ETH run on a single sequencer, have no plans to decentralize their control and can often censor users.
- Values alignment: Is the project aligned with the values of Bitcoin? Does it support decentralization? Is it censorship-resistant?
- Team alignment: Are the teams aligned with the values of Bitcoin? How are they incentivized?