TechFlow news: Shinobi, author of Bitcoin Magazine, has posted a scathing critique of the recently launched Fractal Bitcoin project.
Fractal Bitcoin claims to be the "only fully Bitcoin-compatible, native scaling solution," but Shinobi highlights several critical issues with the project.
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First, Fractal Bitcoin is based on an entirely new token, 50% of which has been pre-mined—contrary to Bitcoin's core design principles.
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Second, the project lacks a genuine Bitcoin pegging mechanism, making it impossible to transfer Bitcoin between the main chain and sidechains.
Shinobi also criticized the project's "Cadence" mining mechanism, arguing that this design distorts the incentive structure for Bitcoin miners.
He pointed out that only one-third of blocks can be generated through merged mining, while the rest require miners to specifically mine Fractal Bitcoin, potentially fragmenting Bitcoin network hash power.
Shinobi concluded that Fractal Bitcoin is本质上 a token scheme, and calling it a Bitcoin sidechain or L2 is "absurd."
