Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon

Recursive inscriptions on Bitcoin's blockchain, known as Ordinals, are being hailed as a powerful development that could enable more complex functionality, similar to smart contracts on Ethereum, creating a full-blown DeFi ecosystem on Bitcoin and potentially competing with decentralized storage provider IPFS. These developments are sparking renewed interest in Bitcoin and attracting a wave of developers eager to explore the possibilities of this new technology.

cointelegraph.com

Relevant topic timeline:

8/21/2023

Ordinals still make up majority of Bitcoin txs despite price collapse

Despite recent price declines and claims that the hype around Bitcoin NFTs has died down, ordinal inscriptions continue to dominate activity on the Bitcoin network, accounting for nearly 85% of all transactions.

8/29/2023

Bitcoin's Evolution Into A Legitimate Form Of Money

Bitcoin, as the world's first decentralized digital currency, is challenging traditional notions of money by empowering individuals, offering a store of value, and demonstrating a growing network effect. With its scarcity, transparency, and potential for financial inclusion, bitcoin is positioning itself as a transformative force in the digital age.

8/29/2023

What's a Bitcoin Drivechain and Why Are Devs At Odds Over Its Proposal? - Decrypt

A proposal called "Drivechains" to create a native sidechain mechanism for Bitcoin is causing controversy among developers, with some praising its potential for adding new features and others expressing concerns about introducing complexity and risk into the Bitcoin codebase; critics argue that it could be a way to introduce "shitcoins" to Bitcoin. However, proponents argue that Drivechains could allow future development on top of Bitcoin without changes to the base layer, ensuring Bitcoin's victory over other currencies.

9/20/2023

Bitcoin Developer Proposes Simplifying Inscription Numbering to Enable Easier Protocol Changes

Bitcoin Ordinals creator, Casey Rodarmor, has proposed to change the numbering system of the protocol's nonfungible tokens (NFTs) in order to simplify the codebase and facilitate future protocol changes, although inscription numbers will not be entirely scrapped.

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Posted 8/23/2023, 1:30:41 PM

Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon

cointelegraph.com

Relevant topic timeline:

8/21/2023

Ordinals still make up majority of Bitcoin txs despite price collapse

8/29/2023

Bitcoin's Evolution Into A Legitimate Form Of Money

8/29/2023

What's a Bitcoin Drivechain and Why Are Devs At Odds Over Its Proposal? - Decrypt

9/20/2023

Bitcoin Developer Proposes Simplifying Inscription Numbering to Enable Easier Protocol Changes