According to Tycho Onnasch, co-founder of Zest Protocol, new programming capabilities which can be added to Bitcoin could help the leading crypto asset cancel out Ethereum’s early advantage of being able to deploy decentralized finance (defi) on Layer one (L1). Onnasch argued that once enough Bitcoin Layer two solutions (L2s) are deployed and trusted by users, the Bitcoin defi ecosystem will match Ethereum’s and may even surpass it. Despite holding much promise, Bitcoin L2s seemingly have inherent security risks inherited from Layer 1. Therefore, before trusting these L2s with their funds, users first need to understand how they handle deposits and withdrawals of bitcoin (BTC) from the base layer, Onnasch explained.
LIVE
Mkt Cap $2.30T
BTC Dom 56.73 %
BTC
$64,963.00
▲ +0.30%
ETH
$1,920.01
▲ +0.40%
USDT
$0.999427
▲ +0.00%
BNB
$594.96
▲ +0.90%
USDC
$0.999698
▲ +0.00%
XRP
$1.04
▲ +0.50%
SOL
$75.29
▲ +2.00%
TRX
$0.328973
▲ +0.70%
FIGR_HELOC
$1.01
▼ -2.70%
HYPE
$54.73
▼ -3.00%
DOGE
$0.070354
▲ +1.20%
USDS
$0.999806
▲ +0.00%
RAIN
$0.012662
▼ -0.50%
LEO
$9.71
▼ -0.50%
ZEC
$500.98
▼ -1.20%
ADA
$0.199617
▼ -0.80%
XMR
$375.25
▲ +2.00%
WBT
$56.23
▲ +0.40%
LINK
$8.34
▲ +1.60%
XLM
$0.163203
▲ +1.40%
DAI
$0.999742
▲ +0.00%
BCH
$216.56
▲ +0.50%
USD1
$0.99985
▲ +0.00%
USDE
$0.999612
▲ +0.00%
GRAM
$1.36
▲ +1.90%
Mkt Cap $2.30T
BTC Dom 56.73 %
BTC
$64,963.00
▲ +0.30%
ETH
$1,920.01
▲ +0.40%
USDT
$0.999427
▲ +0.00%
BNB
$594.96
▲ +0.90%
USDC
$0.999698
▲ +0.00%
XRP
$1.04
▲ +0.50%
SOL
$75.29
▲ +2.00%
TRX
$0.328973
▲ +0.70%
FIGR_HELOC
$1.01
▼ -2.70%
HYPE
$54.73
▼ -3.00%
DOGE
$0.070354
▲ +1.20%
USDS
$0.999806
▲ +0.00%
RAIN
$0.012662
▼ -0.50%
LEO
$9.71
▼ -0.50%
ZEC
$500.98
▼ -1.20%
ADA
$0.199617
▼ -0.80%
XMR
$375.25
▲ +2.00%
WBT
$56.23
▲ +0.40%
LINK
$8.34
▲ +1.60%
XLM
$0.163203
▲ +1.40%
DAI
$0.999742
▲ +0.00%
BCH
$216.56
▲ +0.50%
USD1
$0.99985
▲ +0.00%
USDE
$0.999612
▲ +0.00%
GRAM
$1.36
▲ +1.90%
BTC
$64,963.00
▲ +0.30%
ETH
$1,920.01
▲ +0.40%
USDT
$0.999427
▲ +0.00%
BNB
$594.96
▲ +0.90%
USDC
$0.999698
▲ +0.00%
XRP
$1.04
▲ +0.50%
SOL
$75.29
▲ +2.00%
TRX
$0.328973
▲ +0.70%
FIGR_HELOC
$1.01
▼ -2.70%
HYPE
$54.73
▼ -3.00%
DOGE
$0.070354
▲ +1.20%
USDS
$0.999806
▲ +0.00%
RAIN
$0.012662
▼ -0.50%
LEO
$9.71
▼ -0.50%
ZEC
$500.98
▼ -1.20%
ADA
$0.199617
▼ -0.80%
XMR
$375.25
▲ +2.00%
WBT
$56.23
▲ +0.40%
LINK
$8.34
▲ +1.60%
XLM
$0.163203
▲ +1.40%
DAI
$0.999742
▲ +0.00%
BCH
$216.56
▲ +0.50%
USD1
$0.99985
▲ +0.00%
USDE
$0.999612
▲ +0.00%
GRAM
$1.36
▲ +1.90%
Mkt Cap $2.30T
BTC Dom 56.73 %
BTC
$64,963.00
▲ +0.30%
ETH
$1,920.01
▲ +0.40%
USDT
$0.999427
▲ +0.00%
BNB
$594.96
▲ +0.90%
USDC
$0.999698
▲ +0.00%
XRP
$1.04
▲ +0.50%
SOL
$75.29
▲ +2.00%
TRX
$0.328973
▲ +0.70%
FIGR_HELOC
$1.01
▼ -2.70%
HYPE
$54.73
▼ -3.00%
DOGE
$0.070354
▲ +1.20%
USDS
$0.999806
▲ +0.00%
RAIN
$0.012662
▼ -0.50%
LEO
$9.71
▼ -0.50%
ZEC
$500.98
▼ -1.20%
ADA
$0.199617
▼ -0.80%
XMR
$375.25
▲ +2.00%
WBT
$56.23
▲ +0.40%
LINK
$8.34
▲ +1.60%
XLM
$0.163203
▲ +1.40%
DAI
$0.999742
▲ +0.00%
BCH
$216.56
▲ +0.50%
USD1
$0.99985
▲ +0.00%
USDE
$0.999612
▲ +0.00%
GRAM
$1.36
▲ +1.90%
