Botanix launches an innovative mechanism to prevent Double Spending on the Bitcoin Layer 2 network.

According to Gate News bot, the Bitcoin Layer 2 network Botanix has launched a technical solution to prevent Double Spending. This solution is based on the Spiderchain federated attestation Bitcoin chain and employs a rotating multisignature Wallet structure to manage fund flows. Currently, a 2-of-3 signing mechanism is implemented, with plans to upgrade to a 12-of-16 signing mechanism in the future.

The system requires that the deposit ( peg-in ) and withdrawal ( peg-out ) operations must obtain the signatures of the majority of coordinators. Based on the Bitcoin UTXO model, Botanix has designed the "conflict input mechanism", where each peg-out transaction needs to reference the previous output as input. Transactions that reuse the same UTXO will be rejected by the network. This mechanism, combined with the staking penalty mechanism of PoS consensus, ensures the secure bidirectional bridging of cross-chain assets on both technical and incentive levels.

Source: wublock123

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