Crypto Rand Interviews Max Chamberlin: Insights into Bitfinity's Future

Crypto Rand, a fast-rising crypto research and investment firm, recently discovered Bitfinity; especially through the mainnet launch.

The researchers at the firm had an Eureka moment while diving into the core of Bitfinity; the use cases, engineering designs, and future roadmap.

Hence, the reason behind Crypto Rand’s interview with Max Chamberlain, a co-founder of Bitfinity. In this interview, Max provided greater insights into what Bitfinity is all about, its technical merit, and other visions of the chain. 

Crypto Rand: What exactly is the Bitfinity Network all about?

Max: Bitfinity Network is a blockchain infrastructure company that aims to improve Bitcoin's functionality by enabling smart contracts similar to Ethereum.

Bitfinity Network is a Layer-2 solution that allows developers to use Solidity smart contracts, interact with Bitcoin Runes, and cross-chain assets. 

It's built on the Internet Computer Protocol (ICP) and uses Chain-Key Technology to facilitate secure cross-chain asset movements.

Bitfinity Network allows developers to deploy advanced smart contracts on the Bitcoin network, which expands Bitcoin's ecosystem.

Crypto Rand: How does Bitfinity work to ensure that AI is developed and used in an ethical manner?

Max: The next iteration of the blockchain will involve AI agents - think about smart AI bots that do the jobs other centralised parties do in finance, like order aggregation, routing, even trading. Bitfinity will enable AI agents to take financial actions for the end-user, combining decentralization and intelligence  with deep liquidity on a Bitcoin Layer-2.

Crypto Rand: How does an EVM compatible L2 like Bitfinity make Bitcoin evolve beyond just a "store of value?"

Max: Bitcoin gave birth to crypto. It was not designed as a general purpose computer for any conceivable financial operation. 

Ethereum changed that and then birthed Layer2: a side-chain connected to the main-chain through decentralized bridges.  

The Bitcoin renaissance then began with Layer2 technology integrating with Bitcoin and extending its capabilities beyond what was previously imagined. 

Through Bitcoin L2s will have Bitcoin-native DeFi that can leverage the deep pools of liquidity on Bitcoin.

Crypto Rand: What's the vision for Bitfinity over the next few years?

Max: To provide real Bitcoin staking - currently the staking from protocols like Solv or Lombard or Babylon are just glorified airdrops. They need a real and sustainable source of yield for Bitcoin. 

They also want to make Bitfinity an AI-first chain, and can leverage the Internet Computer's unique capabilities, like running LLMs on chain, to power AI integrations with Bitfinity.

Crypto Rand:  How does Bitfinity's solution compare with other popular BTC bridging protocols in terms of security, cost & speed? 

Max: Its much more secure thanks to Chain-Key technology. Bridges on other chains usually rely on fewer than 9 in a multi-sig, compared to 34 with Chain-Key. 

What's worse, there is no refresh protocol for the key-shares in most protocols, which means that an attacker  who over time got access to the different shares would be able to launch an attack against the bridge, whereas with Chain-Key the key refresh makes this a lot harder.

Crypto Rand: What are the key differences of the Bitfinity mainnet compared to other blockchain networks?

Max: 

• Bitcoin staking
• Fast finality (1-2 secs)
• High TX throughput
• On-chain AI integrations 
• Decentralized and secure bridging through Chain-Key technology

Crypto Rand: What new blockchain integrations can the community expect in the near future?

Max: Dextools and DexScreener coming up for meme coin trading etc.  

Oisy wallet (oisy.ooo), biometric smart wallet that can custody Bitcoin.

Crypto Rand: What sets Bitfinity's modular bridging framework apart from other BTC L2 protocols like RSK & Stacks?

Max: The modular bridging is easily adaptable to new meta-protocols on Bitcoin like Runes and BRC-20. Because of modular bridging they can adapt quickly to new emergent  token standards on Bitcoin.

So many more questions and answers on the AMA which is saved in the Crypto Rand discord channel. We have high expectations with this project going into 2025, the team behind the project is really dynamic and forward thinking.  

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