Explore the promise and challenges of BTC DeFi (BTCfi), from new yield opportunities to the hurdles of interoperability and user experience.
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Cipher, the visionary behind UTXO Stack and the author of the RGB++ protocol, highlighted the platform’s potential to offer a scalable UTXO Layer2 solution for Bitcoin, enabling seamless interoperability across blockchain networks.
“While Bitcoin accounts for over half of all cryptocurrency market capitalization, it has seen major advancements in scalability and utility over the past few years. We believe that now is the right moment to back strong teams building innovative projects to support this growth,” states Plassa Capital Founder, Jean-Philippe Jabre.
The introduction of Bitcoin Ordinals, pure NFTs on the Bitcoin blockchain, has ignited a fierce debate within the cryptocurrency community. While proponents see them as a gateway to expand Bitcoin’s functionality, critics, including prominent figures like Max Keiser, label them as spam. This controversy has the potential to lead to a Bitcoin fork, reminiscent of past disagreements over protocol rules and block size. The outcome remains uncertain, but the impact on the cryptocurrency landscape is undeniable.