Maybe you meant L2 instead of integration of another L1? Because I don't see any other L1 other than Bitcoin itself, and by doing self-custody there because of the original nature.
I see some paths progressing towards self-custody in L2 for the mainstream, but they are still far from reaching a trustless state and/or the mainstream.
Since phoenix seems to be making easier/seamless to swap between L1 <> L2, IMO they are a little ahead of the others.
Thanks, but I do indeed mean integration of another L1. My point is that if we rule out such a possibility, then we have closed off the exploration of another developmental path, and I don't see the logic for doing that, especially given that L2 solutions that tick all the boxes are still some way off.
Let's put it this way: if a candidate optimal L1 payment coin and ecosytem already existed, would we want to spend time investigating it?
I'm aware about integration with other L1s just through bridges (what I consider very vulnerable as an attack vector). What is your idea about it? is there any specific L1 that could solve the problem without another synthetic btc token? It is a legit question. I really don't know.
Have a look at this. The only update is that Nimiq wallet now supports NIM, BTC and USDC on Polygon (rather than ETH). You can swap in the wallet between the three up to a $1,000 monthly limit. Let me know what you think. https://finbold.com/review/nimiq-review/
I've read the whitepaper, and I'm not convinced. They're working on UX because they have funding from a foundation and are issuing a token. Of course, it's easier to do anything when you're a company that can hire people because you did a premine.
Another point is using the browser as a node. I'm pretty skeptical about this, and we have a bunch of examples like IPFS that show it won't work at scale for verification, at least not today. Maybe in the future, but not now.
Suggesting Bitcoin needs a middleman is a lie and unethical. People can choose to use a middleman, but they can also run everything themselves. And the tech is evolving to improve usability, like Phoenix, Zeus, Mutiny, etc. Soon we'll even have a Bitcoin Core mobile app.
Their integration with Bitcoin is just an app doing swaps. They don't work with the native BTC token either.
So, I really think they're just another project trying to gain traction in the market by misleading people about a problem that is not real.
