In a recent dialogue on X (previously known as Twitter), a discussion emerged between Charles Hoskinson, the creator of Cardano, and Muneeb Ali, one of the co-founders of Stacks, a project dedicated to facilitating smart contracts on the Bitcoin blockchain. The conversation revolved around the possibilities and constraints of Bitcoin’s layer-2 (L2) advancements, specifically in contrast to platforms such as Cardano and Ethereum.
Muneeb Ali started the discussion by offering perspectives from the Satoshi Round Table in Dubai, emphasizing the vibrant engagement with Bitcoin Layer 2 projects. In a tweet, he remarked, ‘Brief reflections from the Satoshi Round Table in Dubai: The Bitcoin Layer 2 session stood out as the most extensive session I’ve witnessed at the event, drawing a packed audience and featuring discussions on five Bitcoin Layer 2 projects.
In response to Ali’s excitement, Hoskinson put forth a different perspective, underscoring the architectural constraints of Bitcoin. He contended, “Having witnessed this narrative three times over the past decade, it coincides with the halving. Every Layer 2 initiative will eventually realize its impracticality, as Bitcoin lacks the necessary adaptability to accommodate the requirements for a thriving Layer 2 environment.
Hoskinson Delves Into Ethereum, Cardano Evolution
Hoskinson expanded on the dynamic evolution of Ethereum and Cardano, emphasizing that both platforms consistently undergo upgrades to empower developers with expanded choices for deploying efficient, reliable, and secure Layer 2 solutions.
He additionally analyzed the pragmatic challenges associated with integrating L2 solutions on the Bitcoin network. According to him, accomplishing anything on Bitcoin L2s becomes extremely difficult and typically necessitates the use of centralized or federated infrastructure.
He emphasized that if a solution relies on centralized or federated components, it deviates from the decentralized principles of Bitcoin, highlighting a fundamental contradiction within the BTC ecosystem.
Hoskinson, recognizing BitVM, maintained a skeptical stance. He explored the challenges and safety concerns of Bitcoin L2s. He said they often rely on groups, going against decentralization.
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