laitimes

Mempool Founder: 7 Criteria to Judge if Bitcoin L2 is "Orthodox"

author:MarsBit

原文作者:mononaut

Original source: X

编译:Odaily星球日报,南枳

The Bitcoin network does not have an iconic organization/individual of "legitimacy" such as the Ethereum Foundation or Vitalik, so there is no fully official definition of what constitutes Bitcoin Layer 2. The technologies used in L2 on the market vary widely, including solutions that use the Bitcoin network as the DA layer, solutions that build homogeneous sidechains of the Bitcoin network, and solutions that bridge EVM+ assets.

mononaut, the founder of mempool, said in a post on the X platform that some so-called Bitcoin L2s are not actually L2. Ordinals has compiled the main points of mononaut as follows.

What is a fake Bitcoin L2

  • If your Bitcoin L2 doesn't support unilateral exits, it's not Bitcoin L2, it's just a multisig wallet.
  • If your Bitcoin L2 has VC and its own (network) token, it's not Bitcoin L2, it's a pump-and-dump Shitcoin.
Mempool Founder: 7 Criteria to Judge if Bitcoin L2 is "Orthodox"
  • If your L2 offers a "reciprocal reward" based on the amount deposited by the referral, then this is not Bitcoin L2, but rather a pyramid scheme.
Mempool Founder: 7 Criteria to Judge if Bitcoin L2 is "Orthodox"
  • If your L2 is backed by an upgradable Ethereum contract controlled by a single company, then this is not Bitcoin L2, but a rugpull that is about to happen. For example, all deposits in a project are held in wBTC or tBTC, and the locked contract is managed by 5 out of 9 people. BTC deposits are bridged to tBTC and held as tBTC in the locked contract. The smart contract used to lock up funds can be upgraded with 5/9 multis, and the rest of the details are shown in the image below.
Mempool Founder: 7 Criteria to Judge if Bitcoin L2 is "Orthodox"
  • If your L2 offers rewards to lock up tokens for as long as possible, then this is not Bitcoin L2.
Mempool Founder: 7 Criteria to Judge if Bitcoin L2 is "Orthodox"
  • If your Bitcoin L2 claims to be Bitcoin-native but is actually just an eth multisig wallet, then this is not Bitcoin L2, but an affinity scam.
Mempool Founder: 7 Criteria to Judge if Bitcoin L2 is "Orthodox"
  • If your L2 doesn't have a whitepaper or technical details, just 20 pages of documentation on how to deposit BTC and calculate future earnings, then this isn't your L2.

conclusion

mononaut put forward a series of Bitcoin judgment criteria from the technical implementation level, investment level and publicity level, believing that the underlying EVM, the launch of non-BTC network tokens, and the recommendation mechanism are not qualified Bitcoin L2, alluding to many popular projects, but only for personal reference, DYOR.

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