Bitcoin

This article explores inscriptions and their applications on the Bitcoin blockchain, as well as the associated theory of ordinals. By clarifying the confusion between the terms "ordinals" and "inscriptions," this article will help readers understand these two concepts more clearly, delving into their technical foundations and potential impacts on Bitcoin and the crypto industry.

Merlin Chain currently supports Bitcoin protocols including BRC20, BRC420, Bitmap, Ordinals, and will soon support Atomicals, Stamp, Runes, etc. According to official sources, there are currently hundreds of dApps in preparation or online. In a recent AMA, Merlin Chain also announced collaborations with 5 DApp projects. This article will briefly introduce the basics of these pioneering projects.

In the article, we organize seven indicators signals worth investors' attention during a bull market, perhaps providing you with clues to successfully "exit at the peak." Through various indicators and signals, we assist traders in judging market trends and macro conditions.

This article aims to logically deduce potential differences between the bull market cycle in 2024 and previous cycles. Additionally, it presents personal reflections and strategies for navigating the current market conditions.

This article introduces Satoshi Protocol, the first Bitcoin Layer 2 project compatible with BEVM for EVM development experience. It will guide readers through various aspects of the protocol and how to participate in the Testnet activities. By understanding Satoshi, readers will gain a rough impression of the trends in BTC Layer 2 development.

Based on chain abstraction technology, MerlinChain enables BTC and other derivative assets to be cross-chained to Layer2, establishing an application protocol ecosystem and providing liquidity markets. Through the BTC-Connect platform of Particle Network, users can securely trade in their wallets, solving the problem of interaction between different chains.

This article introduces how Stacks brings smart contracts to the Bitcoin blockchain and discusses the investment value of the STX token. Stacks achieves symbiosis with Bitcoin through the POX consensus mechanism, where miners earn STX rewards by producing blocks, and holders earn BTC rewards by participating in Stacking. Stacks also implements the sBTC mechanism, allowing smart contracts to read Bitcoin state and settle transactions on the Bitcoin chain. With a first-mover advantage, Stacks' ecosystem covers areas such as wallets, NFTs, DEX, DeFi, etc., and STX, as the native token, holds long-term investment value. With the development of the Bitcoin L2 track, the Stacks ecosystem is poised for significant growth, demonstrating enormous potential.

Merlin Chain is a ZK Rollup Bitcoin second-layer network supported by multiple types of native Bitcoin assets and compatible with EVM, launched by the famous BRC-420 blue box and Bitmap team. BRC-420 and Bitmap demonstrate excellent data performance in the market. Bitmap is produced with BTC blocks, with 144 new blocks added every day, and the transaction volume is approximately 600 BTC.

Recursive inscriptions allow inscriptions to interact with each other, enabling new use cases. The generation of art, on-chain displays, and efficient storage has now become a reality. We can expect promising applications in art generation, chain games, metaverse, and more with the adoption of recursive inscriptions, as killer-level applications are believed to be brewing in the future.

With the launch of ETF, the explosion of BRC-20 ecosystem and the added narrative of halving, the market's focus is once again on the Bitcoin ecosystem. CKB seems to have always adhered to its original intention, insisted on being isomorphic with Bitcoin, and further bridged the gap.

With Bitcoin hitting new all-time highs, interest in Bitcoin L2 solutions is rising. Emerging competitors like Bison Network, Stacks, BitVM, Botanix, and Chainway aim to enhance Bitcoin’s capabilities, enabling faster transactions and smart contracts. Stacks allows earning BTC by staking STX tokens, BitVM employs unique hash lock and time lock systems, and Botanix achieves seamless Bitcoin and Ethereum integration through its spider chain design. The development of the Bitcoin L2 ecosystem, coupled with the launch of the first Bitcoin ETF in the United States, sets the stage for Bitcoin’s resurgence.

The Bitcoin halving event strengthens its deflationary model by slowing down the rate of new coin generation, sparking widespread discussions about the sustainability of mining and its environmental impact, while also inspiring the potential shift towards more eco-friendly mining technologies.

The article analyzes how to implement Layer2 solutions, change community awareness, improve infrastructure and other measures to promote the growth of the Bitcoin ecosystem, cover and surpass the scale of Ethereum, and achieve a new chapter in blockchain development.

The research report on the development of the Bitcoin ecosystem provides a detailed introduction to the concept of Bitcoin layers and various functionalities to address scalability challenges. The report focuses on four major Bitcoin layers: Stacks, Lightning, RSK, and Liquid, each making unique contributions to the growth and scalability of the Bitcoin ecosystem. More L2 solutions may emerge in the future to meet the growing demand for applications. Bitcoin's role as a native asset and for transaction settlement has sparked discussions and opportunities to expand its use cases.

This article mainly explores the understanding of Bitcoin L2, the mechanism of RGB++, the assets of RGB++, and the development ideas of the CKB ecosystem.