L2 developers emphasize the importance of DeFi and consumer apps in driving widespread adoption of Bitcoin.

Bitcoin’s path to mass adoption may only be possible if it embraces the world of decentralized finance (DeFi), according to developers of Bitcoin layer-2 networks. While Bitcoin is known as a currency and “digital gold,” developers believe there are untapped use cases for the blockchain. The founder of the Bitcoin Virtual Machine (BVM) emphasizes the need to create a consumer layer on top of Bitcoin, with DeFi applications playing a crucial role. Another developer argues that Bitcoin’s potential won’t be fully realized unless it can connect to the broader financial system. Projects like Spiderchain and SatoshiVM are working on solutions to bridge the gap between Bitcoin and Ethereum-based assets and applications. However, not all projects want to see Bitcoin expand in the same way, with some focusing on scaling Bitcoin’s transaction speed rather than implementing smart contracts. Overall, developers believe that building on top of Bitcoin is a logical step to unlock its full potential and offer more use cases beyond payments.