The mainnet of Botanix, a network designed to bring Ethereum-equivalent utility to the Bitcoin ecosystem, has gone live, slashing the time it takes to add new blocks to five seconds from 10 minutes.
The network is compatible with the Ethereum Virtual Machine (EVM), the software that powers the Ethereum blockchain, allowing Ethereum-based applications and smart contracts to be copied and pasted onto Bitcoin, developer Botanix Labs said in an email.
Botanix is one of several projects attempting to scale the Bitcoin blockchain and make it a more conducive venue for decentralized finance (DeFi) by enhancing its utility and programmability.
Others include Rootstock, Stacks and BOB ("Build on Bitcoin"), which have all adopted the BitVM computing paradigm that can make complex computations verifiable on Bitcoin, paving the way for smart-contract provision, similar to Ethereum's.
The expansion of Bitcoin's utility would allow developers to take advantage of the value held in BTC, which dwarfs that of all other digital assets.
"Fully decentralized" BTCFi
Botanix Labs also emphasized its decentralized governance structure. The mainnet launch coincides with its transition to being operated by a foundation of 16 node operators. Botanix said it expects the number to grow beyond 100 in 2026.
The founding federation includes some of the biggest names in cryptocurrency, including as Mike Novogratz's financial services firm Galaxy Digital and crypto custody specialist Fireblocks.
"If we want a world that runs on Bitcoin, we have to build systems that honor its core principles of self-custody, open participation and global fault tolerance,” Botanix Labs CEO Willem Schroé said. “Too many Bitcoiners have been burned by centralized platforms, which is why Botanix is fully decentralized at launch. No single party, including us, can touch a user’s Bitcoin."
Several products that will form the basis of Botanix's Bitcoin DeFi (BTCFi) offering also debuted in conjunction the mainnet launch. These include BTC-backed stablecoin Palladium and decentralized exchange Bitzy.
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