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.
SWIFT suggests that interlinking existing systems with blockchains is a more viable solution for short-term market development than combining central bank digital currencies and tokenized assets in a single ledger.
MakerDAO co-founder Rune Christensen has stated that the platform's forthcoming native blockchain, called NewChain, should be built using the codebase of Solana (SOL), citing its technical quality and resilience. However, some members of the community have pushed back against this idea, suggesting alternatives such as EVM-based rollups or deploying a chain on a layer 2 solution.
The debate among Bitcoiners over adding "sidechains" to the Bitcoin network has resurfaced, with some warning it could lead to increased scams while others argue it will attract new users to the cryptocurrency; however, a developer claims to have found a way to achieve this goal without a soft fork of the blockchain.
