The idea of making Bitcoin "Ethereum-like" (bringing smart contracts to Bitcoin) has been around for a long time, and @midl_xyz can be seen as the latest effort and interesting attempt in this direction.
Unlike previous solutions, Midl:
Is essentially an execution layer of a DPoS consensus mechanism. To mitigate the centralization issues brought by DPoS, Midl adopts a method of periodically rotating the validator set. Additionally, malicious behavior (such as executing invalid transactions) will be penalized.
By introducing an EVM-level abstraction layer, Midl allows users to interact with smart contracts directly through their Bitcoin wallets, achieving transaction finality with just one Bitcoin block confirmation (instead of the usual six).
What is the biggest benefit that Midl brings to Bitcoin?
Midl's DPoS consensus mechanism allows validators to earn rewards by staking BTC and Midl tokens. This mechanism is similar to Ethereum 2.0's staking model, which, since its transition to PoS in 2022, has seen over 30 million ETH locked (about 25% of the total supply). If Midl can achieve a similar effect, there will be $450 billion worth of Bitcoin staked at current market prices.
Finally, there are a few questions. As illustrated in the official diagram, Midl, as an abstraction layer, can bring various common DeFi functionalities to the Bitcoin ecosystem, such as Swap, lending, stablecoins, etc. The questions are:
How to solve the problem of expensive Bitcoin gas? Or is there a solution?
How to develop the Midl ecosystem? What methods can attract users and developers to migrate to Midl?
What are the unique aspects of Bitcoin L2/ecosystem compared to other L1/L2 solutions?
Overall, Midl is a very interesting project worth paying attention to, with huge potential in its track. A set of data makes it clear: as of March 2025, the total locked value (TVL) in DeFi is about $100 billion, while Bitcoin's market cap during the same period is $1.8 trillion, nearly 20 times that of the former.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
