Bitcoin Innovation Expands Capabilities and Spurs New Developer Interest
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Launch of ordinals and BRC20 token standards expanded Bitcoin's capabilities for developers to create projects and transfer fungible tokens. This diminishes advantages of other platforms.
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Sidechains like Internet Computer Protocol (ICP) provide benefits like lower fees and better user experience compared to building directly on Bitcoin. Allow interoperability across chains.
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Rise in innovation and new use cases like DeFi, NFTs, etc. on Bitcoin is bringing more developer interest and adoption compared to previous years.
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Various scaling solutions like metaprotocols, sidechains, rollups, Lightning each have tradeoffs. Community exploring different approaches for performance/decentralization.
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Layers of infrastructure improving around Bitcoin. Author excited by potential for wider usage of Bitcoin beyond just store of value, as platform for smart contracts and applications.