AMA on X

By @EatonAshton2, Beosin Security Researcher. Since the launch of the Ordinals protocol in February 2023, the minting of BTC NFT and the upsurge of BRC-20 tokens have led to a highly active BTC network. What followed was a surge in BTC network fees and network congestion. In addition, the fact that the BTC network does not support smart contracts limits the development of more complex ecological services. The market began to focus on BTC's second-tier network and applications, hoping to capture the benefits of BTC's ecological growth. In this article, we will explain the BTC layer-2 network Stacks for you. We will talk about its architectural design, its ecological part, and the challenges it faces. What are Stacks? Stacks was created by Muneeb Ali based on his doctoral thesis, which carefully presented an internet framework built around BTC...  

Inventory of key projects in Ordinals NFT, BRC-20, L2 and side chains, and DeFi.

The Rise of the BTCFi Ecosystem: Bitcoin's New Role in Decentralized Finance Bitcoin is undergoing a significant transformation in its position within the Decentralized Finance ( DeFi ) space. Initially merely a peer-to-peer transfer tool, this world's first cryptocurrency is now rising as a powerful force in the DeFi sector, beginning to challenge Ethereum's long-standing dominance. By analyzing on-chain data, we can clearly see the current status and growth trajectory of the BTCFi( ecosystem, which combines Bitcoin and Decentralized Finance (DeFi) ). This is not just a technological revolution; it may also trigger a paradigm shift in the role of Bitcoin within DeFi, redefining the landscape of the entire DeFi sector. The Rise of BTCFi In 2008, Satoshi Nakamoto created Bitcoin, initially designed as a peer-to-peer electronic cash system. Although this architecture has revolutionary significance in the field of crypto assets, it is more complex in finance.

The Bitcoin ecosystem is facing challenges such as network congestion due to the popularity of the inscription concept, which has driven the development of L2 solutions. Projects like Stacks, RSK, BitVM, BEVM, and MAP Protocol have gradually emerged in this context, providing new applications such as smart contracts and cross-chain interoperability for the Bitcoin ecosystem, and have good development potential in the future.

RGB++ Layer: The Hub of BTCFi and the UTXO World In July 2024, CKB officially launched the RGB++ Layer project, marking the transition of the previously released RGB++ protocol from theory to practice and introducing more specific application scenarios. With the vision of building a BTCFi ecosystem between BTC and CKB, Cardano, and other UTXO public chains, RGB++ Layer quickly became the focus of industry attention. RGB++