In addition to AI, DEPIN, and Gamefi, the most discussed topic at this Hong Kong conference was the BTC ecosystem. Various BTC discussion venues were overwhelmed, and the BTC halving is only 8 days away, and it is in the countdown. Compared with the mature AI and Gamefi ecosystems, the BTC ecosystem is still in its early stages, and I believe it will give rise to a large number of opportunities for the BTC ecosystem. Here is a brief summary.
The data shows that historically, the transaction fees paid by blocks have exceeded the block rewards five times, the last time being at the peak in 2017.
The most recent one was during the BRC-20 craze in 2023, when the average fee for each mining block was 6.66 BTC, which brought the total reward for each block to 12.9 BTC, far higher than the 6.25 BTC for mining. This gave rise to a constant motivation for miners!
The pressure of BTC halving is huge. By building the BTC ecosystem, providing fee income, and reducing the pressure of miners on halving, it will provide certain support for the security and stability of the existing BTC computing network. Therefore, the BTC ecosystem is a direction of rigid development. The founder of BTC Magazine said that there is room for the BRC20 market size to increase by 100 times, and the current opportunities are still huge. Today, I will introduce the expansion plan. Please correct me if there are any shortcomings!
BTC expansion plans are a hot topic, including sidechain plans, lightning network, Rollup plans, BitVM plans, and RGB++.
Infrastructure areas: decentralized indexing, DEX, cross-chain bridges, staking protocols, etc. (will be sorted out later).
1. BTC side chain project:
1. rootstock_io
Rootstock is a smart contract platform for BTC. It is hosted on BTC as a sidechain, so it can use the security of the BTC network to seamlessly deploy and run smart contracts. It is compatible with ETH EVM.
#RBTC is Rootstock's native token, pegged 1:1 to Bitcoin, with exactly 21 million in existence. Powpeg allows the transfer of BTC to the Rootstock chain and vice versa.
Ecological Projects:
Wallet: exodus_io, myetherwallet
DEFI： @SovrynBTC @RIFtechnology
Others: @moneyonchainok
2. @Stacks (STX)
Stacks is a BTC Layer2 network that enables developers to use Bitcoin as a secure base layer for applications and smart contracts. Using the consensus mechanism of Proof of Transfer (POX), Stacks achieves 100% Bitcoin finality, seamlessly decentralized BTC deposits and withdrawals, and inherits Bitcoin security. Using sBTC has activated the development of BTC DEFI, provided native assets on L2, and helped the prosperity of the ecosystem.
Ecological Projects:
Wallet: @LeatherBTC @XverseApp
DEFI： @ALEXLabBTC @ArkadikoFinance @Stackswap_BTC
NFT： @trygamma @ArtOnStacks
Gamefi： @moonraygame
Others: @mineCityCoins @TheFastPool
3. @Liquid_BTC
Liquid Network is a BTC Layer2 solution that enables fast, secure and confidential settlement and issuance of digital assets such as stablecoins, security tokens and other financial instruments on top of BTC.
Just now, Bitfinex Securities launched the first tokenized debt in El Salvador to finance the new Hilton Hotel. The tokens will be issued on the Bitcoin sidechain Liquid Network.
Ecological Projects:
Wallet: @AquaBitcoin
DEFI： @bisq_network @peachbitcoin @Boltzhq
NFT： @tokenocean
Others: @side_swap @debificom
2. BTC Rollup Project:
1.@MerlinLayer2
Merlin Chain is a BTC Layer2 platform that combines the ZK-Rollup network, decentralized oracles, and on-chain BTC fraud prevention modules. It is committed to empowering BTC's L1 native assets, protocols, and products through the L2 network, building dApps in the spirit of Bitcoin's "full on-chain" and launching community-driven assets to make Bitcoin interesting again.
Ecological Projects:
DEFI： @MerlinSwap @SolvProtocol @surf_protocol @bitsmiley_labs
Gamefi： @DragonverseNeo @Merlin_Land
SAME：#VOYA#HUHU
Others: @Merlin_Starter @UniCrossGlobal @mesonfi
2.@BSquaredNetwork
B² Network is a leading Layer 2 project on BTC. It is based on Bitcoin's zero-knowledge proof verification commitment and EVM-compatible ZK Rollup. Rollup data and ZK proof verification commitment are recorded on the BTC network and ultimately confirmed through a challenge-response mechanism. The project's technical architecture adopts a two-layer structure: Rollup layer and data availability (DA) layer, implementing a module layering solution.
Ecological Projects:
DEFI： @LayerBankFi @ShoebillFinance @SUPRA_Labs @portal_finance
NFT： @layercraft_co @PawXcats
Gamefi： @btc_loot
Others: @okapixyz @UniRouterBTC
3. BTC Lightning Network Project:
1.@lightning
Lightning Labs is the lead developer of the Bitcoin Lightning Network, a “layer 2” payment protocol that sits on top of Bitcoin and is designed to enable fast transactions. Taproot Assets is an asset protocol on BTC and Lightning that allows developers to issue financial assets on-chain on a verifiable and non-custodial basis.
Ecological Projects:
Wallet: @Breez_Tech @bluewalletio
DEFI： @LNMarkets @Boltzhq
Gamefi： @THNDRGAMES @LNRoulette @zebedeeio
Others: @BTC_LN @Bitnob_official @NostrAssets
IV.BTC RGB++ Project:
1.@NervosNetwork is the representative of the RGB++ solution. RGB++ is an extension protocol based on the RGB principle. It takes advantage of the core point of RGB, "UTXO", and the homology of the underlying architecture of CKB. It uses the isomorphic binding and public verification on the CKB chain, and through the advantages of POW+UTXO, it becomes the first BTC L2 that is completely isomorphic to BTC.
Ecological Projects:
Wallets: @joy_protocol @FxWallet @UniPassWallet
CHALLENGE: @yokowapnervos
NFT： @NFTxnation @nftboxes @Nervapes
Others: @InsureToken
5. BTC BITVM Project:
1.@BitlayerLabs
Bitlayer is the first BTC L2 solution based on BitVM, providing security comparable to BTC itself and Turing completeness, and is compatible with EVM, seamlessly compatible with the ETH ecosystem, and enhances the Bitcoin ecosystem by providing secure scalability and promoting asset diversity. The project recently received $5 million in financing!
Ecological Projects:
Not long ago, Bitlayer announced the launch of a $50 million ecosystem incentive plan. The ecological project is in full swing, so stay tuned!
In summary, the current development speed of the entire BTC L2 is very fast, and each technical route has its own core masterpiece. From the BTC L2 public chain to its ecological projects, it can be said that a hundred flowers bloom and a hundred schools of thought contend. It is a bit like the ETH killer period, when various shard chains, DAG chains, and other killer public chains frequently emerged. This reflects the prosperous development of the BTC ecosystem, and at the same time we must also distinguish the pros and cons. In the figure below, there are many high-quality projects, which are not listed one by one.
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