Debating who is orthodox is meaningless. Whoever has a high market value, high TVL, and the authority to define ownership.
Author: Jademont, Founder of Waterdrop Capital
Broad BTC Layer2:
As long as BTC is used as gas and serves as the underlying asset, it can be considered a dapp platform with performance far superior to BTC layer 1. This includes but is not limited to application platforms based on Indexer, EVM rollup, EVM crosschain, sidechains, Lightning Network, RGB, and so on. Ultimately, the competition is still about TVL, that is, how much BTC trusts your Layer2. This is similar to the numerous L2 battles in the Ethereum community. Debating who is orthodox is meaningless. Whoever has a high market value, high TVL, and the authority to define ownership.
Narrow BTC Layer2:
It needs to meet at least the following two conditions simultaneously:
Whether it shares security with BTC. If BTC goes down, can your L2 survive on its own? The most that can survive on its own is called a sidechain.
Whether it is resistant to censorship. Are the nodes or cross-chain multi-signatures of your L2 decentralized enough, not like multichain, all in the hands of a few relatives, and when users are in trouble, their assets are gone too.
BTC Layer2 that meets the Ethereum community standards:
In addition to the narrow L2 definition, two more criteria need to be added: whether layer 1 can verify transactions on layer 2, and whether assets on layer 1 can escape smoothly when layer 2 collapses.
Personally, I think that discussing based on definitions is the most meaningless, because Satoshi Nakamoto will not come out and tell everyone what his ideal BTC L2 looks like, and no organization has the right to define this orthodoxy.
The Bitcoin ecosystem seems chaotic, just like the chaotic mess of altcoin forks of BTC in 2013. However, it is precisely in this chaotic community atmosphere that Vitalik attempted to create smart contracts on BTC and failed, leading to the creation of Ethereum, and various new technologies were discussed, laying the foundation for the prosperity of the public chain era. It's just that ten years later, things are different. BTC itself has undergone the Taproot upgrade, and programmability, scalability, and privacy have been greatly improved. The technological progress precipitated by this prosperity can be fully implemented within the BTC ecosystem.
Independent Cryptocurrency Researcher @ordjingle (Dr. Jingle) asks: If an Arc20 token such as $sophon is used as gas, is it considered Layer2?
Jademont: Yes, it can be considered, because the cross-chain part must consume BTC.
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