Bitcoin Ecosystem Evolves with Smart Contracts and NFT-Like Assets Generating Over $200 Million in Fees
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Bitcoin's on-chain activity is surging due to the advent of "ordinals", which enable NFT-like collectibles on Bitcoin's network. This has generated over $200 million in fees.
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Ordinals have created a "cultural shift" in the Bitcoin community and attracted new developers.
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Smart contract protocols on Bitcoin's network are emerging, evolving its use cases.
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Stacks is one layer-2 solution building expressive smart contracts and decentralized apps on Bitcoin.
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These trends suggest Bitcoin is transitioning into a multi-faceted ecosystem capable of various blockchain applications.