Chainlink Integrates Data Feeds with Bitcoin L2 Spiderchain
Ethereum’s major oracle provider, Chainlink, is expanding into Bitcoin Finance (BTCFi) through a partnership with Botanix Labs, which develops the EVM-compatible Bitcoin layer-2 solution, Spiderchain.
Botanix will integrate Chainlink’s data feeds for inter-blockchain communication and participate in the Chainlink Scale program, which provides gas grants to help cover operating costs of its oracle networks.
Spiderchain will also implement Chainlink’s cross-chain interoperability protocol (CCIP) to facilitate programmable token and data transfers across different blockchains. Johann Eid, chief business officer at Chainlink Labs, stated that Botanix is the first Bitcoin layer-2 to join Scale, aiding developers in building secure decentralized applications (dapps) on Bitcoin.
Spiderchain aims to enable native BTC use within thousands of EVM-compatible dapps while adopting Ethereum’s account model instead of Bitcoin’s non-fungible UTXO (unspent transaction output) model. This represents a gradual shift from Bitcoin's traditional image as a digital gold “reserve” asset due to its limited smart contract capabilities.
The name Spiderchain reflects its design as a permissionless network of multisig wallets maintained by a randomized group of participants, called orchestrators. Orchestrators deposit BTC into multisig wallets as escrow bonds to participate in consensus and simultaneously operate both Bitcoin and Spiderchain nodes.
A decentralized sequencer will be implemented from launch, utilizing Bitcoin’s Taproot upgrade to support an expanded network of multisigs on the Bitcoin parent chain without requiring soft forks.