The concept of Bitcoin Layer 2 solutions is indeed intriguing, utilizing Bitcoin as the ultimate settlement layer for smart contract-enabled transactions. However, there are some valid concerns to consider:
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Limited Stress Testing: The concept is relatively new, and there hasn't been extensive stress testing on the network level. Current Layer 2 solutions lack a proven track record in handling a large volume of transactions without downtime or substantial gas fees, similar to what has been experienced on the Ethereum mainnet and zkSync during the peak.
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Competitive Landscape: Botanix may have lost the first-mover advantage in this space, with platforms like Merlin already attracting TVL and user interests through KOL engagements and strategic partnerships. As observed in the Ethereum Layer 2 race, early movers often establish strong positions that are difficult for latecomers to challenge. Considering the success of projects like OP and ARB, the sustainability of Botanix's network in the long term, particularly post-mainnet launch, remains a valid question. Latecomers to the space may find it difficult to capture a significant portion of the market share. Show Less
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