The Bitcoin network may soon compete with Ethereum in terms of decentralized finance (DeFi) activity, thanks to the reintroduction of a long-dormant code called "OP_CAT" that was originally created by Satoshi Nakamoto but removed in 2010 due to security concerns. A proposal to reintroduce the code via a soft fork to the Bitcoin network was introduced in October 2023, which will bring new upgrades to the network and expand its smart contract-like functionalities. While some believe that the current structure of sidechains is sufficient for scaling Bitcoin, others see OP_CAT as crucial for achieving genuine scalability and a trustless environment for Bitcoin DeFi. Labrys founder Lachlan Feeney argues that OP_CAT is essential for the long-term survival of the Bitcoin network, as it must have a thriving L2 ecosystem to sustain itself based on transaction fees.