Tears wet the pork leg rice, and vowed to make 1 million. When everyone first entered the cryptocurrency circle, they were ambitious, thinking that there were new projects everywhere and good opportunities everywhere. Since the 2008 financial crisis, when Bitcoin held high the banner and called for the establishment of a new electronic information payment system, it was destined that this circle would be full of innovation and subversive ideas. Of course, it did not disappoint us. Although the industry has obvious cyclicality and the bear market lasted longer, and it was full of speculation and fraud, it has not affected the shining moments brought to us by technological innovation. Turing-complete blockchain, Ethereum proposed the slogan of the world computer, which triggered a storm of competition for tens of thousands of coins. ERC-721 made NFT break into the fashion circle, and the stinky currency speculators also got involved in art. AMM brought DeFi Summer, allowing us to pick up the golden shovel and experience the joy of lying down and making money by providing liquidity for finance. Concepts such as Web3 and Metaverse have also entered the public eye, but I don’t know when the enthusiasm of various tracks came to an abrupt end. Perhaps it was when a large number of VCs poured in and were swept up by more capital, or when Bitcoin was approved through ETFs, or when a large number of practitioners rushed to develop various second-layer networks. I don’t know why everyone is talking about whether it is a bull or a bear market, as if this market is already a spent force for us and is doomed to be in danger. 16 years ago, the cryptocurrency industry embarked on a journey to subvert traditional finance and started a financial revolution. It can be said that it took the best time. The state of vigor and vitality is still before our eyes. No matter what, as long as innovation continues, the advantage is mine for traditional finance.
How can I argue that this is a bull or a bear?
Since the end of the last bull market, Bitcoin has finally ushered in the halving once every four years. Everyone also thinks that it is time for the currency circle to enter the next carnival. The price of Bitcoin has also responded to everyone's expectations in the first half of this year, breaking through the previous high. Even though everyone feels that the market has not been going up or down recently, from the historical price of Bitcoin, it is still maintained at a relatively high level. In this process, some new things have also appeared, including Depin in the West, BRC-20 in the East, and various L2s fueled by VC. The narrative of Depin is relatively grand and mainly on the Sol chain, because the increase in tokens has attracted more people to pay attention to this track. However, although it has shown its huge development potential, it still has a long way to go in the actual implementation of technology and the stability of services. BRC-20 became popular and everyone started to play inscriptions, which once exploded the gas of Bitcoin, but as the tide gradually receded, except for the inscriptions on the head that still maintained a certain liquidity, the others were almost zero. The top-tier L2 invested by VCs is also facing a dilemma. Behind the high valuation and high market value is the poor actual demand. On September 3, only two wallet addresses bridged funds into ZKsync, with a value of only 0.01 ETH. How can we argue whether this is a bull or a bear market?
Where is the new wave?
The new wave must be able to be applied on a large scale and bring a new way of issuing assets. With the development of several rounds of bear market, the whole circle is moving towards large-scale application. As a relatively new underlying technology, the Lightning Network has a greater possibility of being applied on a large scale. It supports small payments and instant receipt, which provides unlimited possibilities for future development. So why has this relatively new technology not been well developed? Of course, it is because it still has some shortcomings that need to be solved. Nerros started to study the Lightning Network very early and is about to launch the $CKB version of the Lightning Network. Of course, it is not a simple copy of the Bitcoin Lightning Network. Compared with the Bitcoin Lightning Network, it is not only compatible with the existing Bitcoin Lightning Network, but also because of the underlying flexibility of the Nervos network, CFN supports multiple assets, programmability, cross-chain interoperability, and more flexible state management. CFN will better promote the Lightning Network to large-scale application. #FNC #闪电网络
