Last week, Bitcoin Season 2 launched a part of the Spring/Summer Collection.
Other things include: MezoA “Bitcoin economic layer” The company came out from the shadows with a fundraising round of $21 million. Alpen Labs A $10.6 million fund was announced to help bootstrap an infrastructure that is Bitcoin native and zero-knowledge.
Starkware and other blockchain developers have launched the L2O Consortium “to set standards for trustless applications and Layer 2s.”
It’s a provocative statement, even if nobody understands what it means. This gets people excited, capital flowing, and industry buzzing. Seed rounds of eight figures are being thrown about and major players in venture are making a big comeback. Every day, there is a layer or some new technology announced. “Bitcoin-native” The protocol you’ve never heard of announced that users had locked in a bazillion dollar worth of Bitcoins to their accounts. “trustless” multi-sig protocol.
Then it’s a bullish market. Some people will say that it is more of a performance than engineering. Remember the Rick Owens freak runway shows? Who will wear these flashy clothes?
Remember that most new devices are still in their early stages of development. For example, rollups of Ethereum are only just getting started. dressed-up multi-sig. This new generation of Bitcoin-adjacent protocols seems to be content with launching either without releasing a product or “decentralization on the roadmap.” There is no better trust model than Liquid’s simple federated sidechain, which has been maligned for its vapid marketing.
The majority of people don’t want to leave the country unilaterally “Layer 2s” What is on offer can’t even be considered a “term” under our admittedly lax definition policy Here at Bitcoin Magazine.
The variants are even worse proof-of-stake Ethereum has had a poor track record since the transition. It’s not surprising that the discussion has devolved to ponzinomics To bootstrap the speculation flywheel. Often used in a colloquial way “points,” The designer community is buzzing about a brand new token device. Users are required to deposit bitcoins, as well as other currencies. friends and familyYou guessed it: yield.
The new term is gamification. It’s crypto nihilism at its peak. Bitcoin is now the official home of fast fashion!
What if the Emperor has no clothes?
Taproot Wizards, a company that specializes in creating costumes and catwalks for individuals dressed as clowns or other characters, recently filmed a video. unleashed pandemonium The most potent science project in the community of Layer 2 is a great way to get to know it. BitVM.
Shinobi, my esteemed co-worker put together an excellent recap The event. The technical details are not important, but the allegations remain controversial to this day. The fate of at least 12 new companies is on the line here, so imagine what it must have been like when the fashion police publicly exposed them.
We should hold off writing BitVM’s obituary, even though I am partial to wizards arguments. It seems that juggling liquidity is a major tradeoff when building trust-minimized protocol on Bitcoin. Lightning’s inbound liquidities have been a problem for us for many years. Ark has been dismissed due to the large UTXOs that operators must fund. Perhaps BitVM bridges could be developed to reduce the upfront liquidity needs of operators. It is unlikely that everyone will be able to abandon everything.
This saga has left everyone looking amateurish. Although claims to the contrarySome due diligence has been clearly missed. It would have been better to run the matter through more brain cells collectively before publishing.
The wizards just released their latest release, which is a new version of the Wizards’ derivative proposal. This seems to be a little bit of an elaborate marketing scheme. It’s hard not to get the impression that this was a bit of a marketing ploy.
The issue is valid and there are many responses from “team” BitVM isn’t exactly a gracious company either. Researchers who’ve been in the game for a while should have thicker skin. It is not in the best interest of those who are working on BitVM to ban people and dismiss the whole premise. It’s fine to disagree with conclusions, but there is no doubt that BitVM now has a wider audience. It was a first for many to communicate the mechanism in an easily accessible manner. If they felt the project had been misrepresented, it was a lost opportunity to use this attention in their favor.
This looks like a bad dress rehearsal. I’m not sure how it will inspire anyone who is serious about contributing.
Grand finale
Clowns are a must-have for any circus.
Just in time for Christmas, the hottest designer of protocol in town will be showcasing his newest line. halving It’s Friday. RunesThe Jordan 1s are probably the most eagerly anticipated release since they were released. We are currently speaking. hundreds of users In preparation for the celebrations, people are synching up Bitcoin nodes in real time for the very first time. Tickets could be expensive as the blockchain expects a large crowd.
Bitcoin jeans will be my choice for watching the game from my balcony. They are safe, reliable and always comfortable. The clock is ticking. next block.
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Source: bitcoinmagazine.com