Chainlink is expanding its role within the Bitcoin Finance (BTCFi) ecosystem by integrating its data feeds with Spiderchain, an EVM-compatible Bitcoin layer 2. Developed by Botanix Labs, Spiderchain will use Chainlink's cross-chain interoperability protocol (CCIP) to facilitate programmable token and data transfers across different blockchains. This partnership also includes participation in Chainlink's gas grant program, which will help cover the initial costs of operating its oracle network. Johann Eid, Chainlink Labs' chief business officer, highlighted that Spiderchain is the first Bitcoin layer 2 to join their Scale program, emphasizing its potential to support secure and scalable decentralized applications (dapps). Unlike Bitcoin's traditional unspent transaction output (UTXO) model, Spiderchain adopts a more flexible Ethereum-like system. It operates a decentralized network consisting of multisig wallets, where orchestrators deposit BTC and participate in the consensus. This innovative approach aims to leverage Bitcoin's strengths while accessing the broader capabilities of the Ethereum ecosystem.

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