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Both in TradFi and DeFi — as well as gaming, NFTs, and countless other sectors – Bitcoin is rapidly making inroads. A blockchain once thought good for nothing more than moving BTC is providing itself to be a jack of all trades and a master of many. .Bitcoin and Ethereum, two blockchain ecosystems that once ran in parallel, have been emulating each other of late.
Bitcoin L2 Stacks is about to push its Nakamoto upgrade, introducing five-second block times, enabling the creation of Ethereum-esque DApps and smart contracts for DeFi, NFTs, and much more. It’s the best-established L2 but by no means the only one taking shape upon Bitcoin’s main chain.The promise of Bitcoin DeFi isn’t new. Bitcoin scaling projects such as RSK and Lightning Network have been working towards this goal for years with limited success. But this time around, it feels different.
The halving, when the block reward reduces to 3.125 BTC, is less than two months away, prompting intense speculation, debate, and trading leading into the four-yearly event. Add in Cursed Inscriptions and the development of eagerly anticipated protocols such as open-source indexer Trac and there’s a lot to look forward to this year. Ordinals’ creator Casey Rodarmor is based on Ordinals, known as Rune Protocol.