【News】Bitcoin L2 projects are popping up like mushrooms after rain, but do you know what they are really like? Bitcoin's vision is to be universally accessible and adopted, and to do this it must scale to handle more traffic, and L2 is a good solution. However, at present, Bitcoin is neither optimistic nor ZK rollup is possible, so technically speaking, real Bitcoin rollups do not exist yet.
Bitcoin's development has exploded, and new primitives such as ordinals, runes, and BRC-20 are taking center stage, marking a major shift in the atmosphere of the Bitcoin ecosystem. In the Bitcoin ecosystem, L2 is now the new hot thing. Everyone wants a piece of Bitcoin L2, but what is the hype about?
The Bitcoin network is designed to prioritize security and decentralization, with trade-offs around its scalability and expressiveness as a blockchain. While this makes BTC a more valuable asset, it also means that the network is not an ideal infrastructure for building financial applications like Ethereum.
The Bitcoin community has been struggling with scalability issues, and transaction costs can reach tens of dollars during peak network traffic. Today, demand for Bitcoin block space is exploring new heights, driven by experiments like Ordinals, Runes, BRC-20, and more.
For years, the Bitcoin community has been actively working on improving transaction scalability. A key development in this area is the Lightning Network — a payment channel protocol that aims to enable faster and more affordable transactions by processing transactions outside of Bitcoin L1.
However, the Lightning Network may not be the final scaling solution for Bitcoin, and a better Bitcoin L2 is needed. Currently, the focus is on BitVM, a new model for executing Turing-complete contracts on Bitcoin that could pave the way for optimistic rollups on Bitcoin.
However, what is the end state of Bitcoin L2? The answer is, ZK-rollups! But building ZK-rollups on Bitcoin is not easy, or even technically feasible. It would require changing the Bitcoin network via a soft fork, which we all know is easier said than done.
Nonetheless, these are exciting times for the Bitcoin community.From the launch of Bitcoin spot ETFs to primitives like Ordinals, BRC-20s, and Runes, the Bitcoin ecosystem is experiencing unprecedented growth and innovation.
The prospect of Bitcoin L2 has increased people's excitement about the future of Bitcoin. What do you think of the potential impact of Bitcoin L2 on the overall adoption of BTC? Do you think they will continue to exist, or is it just a fleeting trend? Feel free to share your thoughts in the comments section! 😊【Original link】
