What is Midl?

Vision

Despite Bitcoin's dominance in cryptocurrency, its inability to support complex smart contracts and decentralized applications (dApps) has limited its utility compared to platforms like Ethereum. The Midl team envisions overcoming these limitations by enabling native execution of dApps on the Bitcoin network, enhancing usability, and providing seamless access to advanced functionalities without compromising the user experience.

Existing solutions attempting to bring dApps to Bitcoin often face challenges such as: ● Native approach: Existing solutions do not provide a native experience to users – those solutions merely commit state into Bitcoin from external systems without seamless integration and direct interaction – introducing complexity and potential security risks. These factors delay user interactions and hinder the development and adoption of decentralized applications on Bitcoin.

● User experience: One of the most significant UX challenges of BTC dApps is that existing solutions require users to bridge funds out of the Bitcoin network, necessitating additional time and complicating the overall workflow.

● Limited functionality: Bitcoin's scripting language is not Turing-complete, restricting the development of advanced dApps and limiting the network's capabilities.

● Scalability issues: High transaction fees and slow confirmation times hinder the deployment of scalable applications, affecting developers and users.

Our mission

The Midl aims to address these challenges by introducing an execution layer that allows users to natively utilize Bitcoin network assets in robust EVM-level smart contracts without bridging funds or waiting additional time. By doing so, Midl enhances the user experience while enabling users to remain within the Bitcoin network and employ their preferred wallets.