. It was designed to be a decentralized currency and real-time gross settlement system. The decentralized, protocol-based approach enables holders to shift trust from a centralized actor to a decentralized, code-enforced protocol.Despite bitcoin being the original cryptocurrency and corresponding blockchain, its functionality has been extremely limited up to this point relative to the smart contracts and decentralized finance functionality offered by Ethereum, Solana and other blockchains.
Bitcoin’s leading non-fungible token protocol, Ordinals, wasn’t released until January 2023. BRC20s and Runes, Bitcoin’s leading fungible token protocols, were launched in March 2023 and April 2024, respectively. Even with these recent releases, additional functionality is required for a robust decentralized finance ecosystem to exist on Bitcoin.
immature and rapidly developing technology underlying Digital Assets, security vulnerabilities of this technology, credit risk of Digital Asset exchanges that may hold an Account's Digital Assets in custody, regulatory uncertainty around the rules governing Digital Assets, Digital Asset exchanges and other aspects and parties involved with Digital Asset transactions, high volatility in the value/price of Digital Assets, unclear acceptance of some or all Digital Assets by users and global...
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