BRC-20 assets have grown at an alarming rate, various inscription protocols have appeared one after another, and the BTC Layer 2 track is hot... In the past bull market, for Bitcoin, only the increase in currency price was worth paying attention to, but this bull market can be said to be completely It is a bull market for the Bitcoin ecosystem. As of press time, Bitcoin prices have exceeded the all-time high of $69,000 in November 2021. According to data from CompaniesMarketCap, after earlier surpassing the market value of Facebook parent company Meta Platforms (META) and Berkshire Hathaway, the current market value of BTC has also reached the ninth place among global assets, ranking behind silver.
However, while the design headed by the inscription re-energizes the Bitcoin ecosystem, it also further highlights the original disadvantages of the Bitcoin architecture. Although the subsequent Inscription Protocol has alleviated some pressure on the Bitcoin network through architectural optimization, it is still difficult to fully solve the problems of network expansion and transaction speed. Fortunately, in this bull market, not only projects such as Inscription are exploring improving the expansion problem of Bitcoin, but many other excellent expansion solutions have emerged, such as CKB, Merlin, Babylon, etc. Through different technical routes and mechanisms, these projects are committed to improving the throughput of the Bitcoin network, reducing transaction fees, and improving the overall user experience. CKB has attracted widespread attention in the community with its innovative Cell model and consensus algorithm, while Merlin focuses on bringing more application possibilities to Bitcoin. Projects such as Babylon are committed to fundamentally improving the scalability of Bitcoin based on staking liquidity.
Recently, the CertiK team, a well-known Web 3.0 security agency, released the "Bitcoin Ecosystem Report", sorting out the entire process of Bitcoin's ecological development last year and looking forward to its future development trends. Here, Meta Era extracts and interprets the key contents of the report to help readers more comprehensively and in-depth understand the ins and outs of this Bitcoin ecological bull market, and to dig deeper into the research results of the development dynamics of Bitcoin and its ecosystem.
From 0 to 1 - The evolution of Bitcoin network assets The birth of Ordinals protocol and inscription
In January 2023, Bitcoin developer Casey Rodarmor launched the Ordinals protocol, whose core idea is to allow each "Satoshi" (the smallest available unit of Bitcoin) to be independently and uniquely sorted and identified in the network. Through the introduction of ordinal theory, each Satoshi can be assigned a unique serial number based on its mining time and transaction sequence, providing a solid technical foundation for the creation of non-fungible tokens (NFT) on the Bitcoin network.
What’s unique about the Ordinals protocol is how it handles NFT data. Unlike other blockchain ecosystems, the Ordinals protocol stores NFT data in the "witness data" of the transaction in JSON format, achieving data isolation and security. This processing method is called "inscription", and the NFT assets generated on the Ordinals protocol are called "inscriptions".
Inspired by the Ordinals protocol, anonymous user @domodata launched the BRC-20 token standard in March 2023. This standard is similar to Ethereum’s ERC-20 standard and is designed to enable the deployment, minting and transfer of tokens on the Bitcoin blockchain. The introduction of the BRC-20 standard marked the further diversification of the Bitcoin ecosystem, and projects well known to the community such as ORD1, SATS, RATS, etc. began to be born.
There have been previous attempts to issue assets such as NFTs on the Bitcoin network, but no protocol or project has been able to gain sufficient consensus from the community. The reason for the success of the inscription ecology headed by BRC-20 lies in its low threshold (you only need to pay gas fees to participate) and its relatively fair distribution system. At the same time, major communities of inscription enthusiasts also contributed to the promotion of this emerging asset during this period. As the market warms up and U.S. stock data continues to improve, it provides a solid foundation for the return of the bull market.
In April and May of 2023, the inscription ecology ushered in the first wave of explosion, and the number of inscription minting and transaction volume on the Bitcoin chain increased almost exponentially. As of the time of the report, March 4, 2024, the market capitalization of the BRC-20 token has reached $3.8 billion, with 24-hour trading volume approaching half of the market capitalization. The explosion of the Bitcoin inscription ecology has also directly led to the recovery of other chain ecology - AVAX, SOL, NEAR and other "Ethereum killers" who have gradually calmed down in the previous round have either directly or indirectly ended up promoting the development of their own public chain inscription ecology. .
However, with the large-scale deployment of BRC-20 tokens and the surge in transaction volume, some problems have begun to emerge: more and more people are pouring in to inscribe, making the congestion problem of the Bitcoin network more serious; high costs Gas fees make everyone uncomfortable except miners; fake inscriptions proliferate on the chain and on exchanges. The emergence of BRC-20 is both honey and arsenic. The community and developers urgently need new measures and new protocols to solve the emerging problems to ensure the healthy and sustainable development of the Bitcoin ecosystem.
Innovating and optimizing the Inscription protocol
In order to improve the limitations and security risks reflected in the BRC-20 standard, some new protocols have begun to emerge.
Atomics emerged with its ARC-20 protocol, which differs from traditional token issuance methods. Compared to the situation where “scientists reserve the space” when casting BRC-20 inscriptions, Atomics adopts a proof-of-work (PoW) mechanism that is closer to Bitcoin fundamentalism, requiring the use of computing power to calculate the prefix, and using this as the basis for casting the token. Necessary conditions. This unique design not only improves the traceability of the tokens, but also enhances the transparency and security of the entire transaction process. At the same time, the ARC-20 protocol adopts the Commit-Reveal mechanism and P2TR (Pay-to-Taproot) technology to improve the effectiveness and security of transactions. Through the Commit-Reveal mechanism, key information of the transaction is announced in stages to ensure that participants can verify and confirm the authenticity of the information during the transaction process and prevent fraud. The introduction of P2TR technology provides higher privacy protection for transactions, allowing users to feel more at ease when conducting transactions.
The Atomics protocol differs from Ordinals in the ordering of asset transactions in that it gets rid of its dependence on third-party orderers, which makes the protocol more flexible for creating (minting), transferring, and upgrading various digital items. The sorter is a top priority for most inscriptions. It determines in which blocks/time ranges the inscriptions minted are "genuine". If the centralized sorter does evil, it will have a huge impact on the entire inscription ecology. s damage.
In September 2023, Ordinals Protocol founder Casey Rodarmor proposed Rune Protocol. This protocol implements the distribution and transfer of tokens by using OP_RETURN scripts. At the same time, Casey said that Runes is a UTXO-based protocol. Compared with the BRC-20 protocol that is not based on UTXO, Runes is more naturally adapted to Bitcoin. network, and promotes the minimization of UTXO collections by avoiding the creation of "garbage UTXOs." This design concept allows the Rune Protocol to better integrate into the original structure of Bitcoin, improving the efficiency and sustainability of the protocol.
Compared to the BRC-20 standard, Rune Protocol has a smaller on-chain size and higher efficiency. This means that under the Rune Protocol, transaction data on the Bitcoin network is more compact, reducing the burden of storage and transmission, while also increasing the overall processing speed of the network. In addition, Rune Protocol also supports a destruction mechanism to provide users with more ways to manage and use assets. It is also compatible with the Lightning Network, providing the possibility of fast and low-cost micro-transactions.
In addition to the above two inscription protocols introduced in the "Ecosystem Report", there are other excellent asset protocols in the Bitcoin ecosystem. As the Stamps protocol is released in March 2023. The protocol began as a proof-of-concept project on Counterparty, and due to updates to the underlying protocol, Stamps fully pivoted in the direction of Bitcoin Inscription in the summer of 2023, better known as the SRC-20 protocol. Stamps' SRC-20 protocol differs from Ordinals' BRC-20 protocol mainly in architectural design. The data of SRC-20 does not rely on UTXO, but adopts the account address model, which greatly reduces the cost of parser development. In addition, SRC-20 adopts a multi-signature address model, which does not need to occupy Bitcoin's UTXO and avoids UTXO reuse like other asset protocols. This design makes the Stamps protocol more flexible and scalable in the Bitcoin ecosystem. Inspired by Inscription, more and more excellent new asset protocols are beginning to emerge. Bitmap.land is one of them, it was born based on ordinal theory and bitmap theory. The latter maps each transaction input in a Bitcoin block into parcels, forming a neighborhood or area. The size difference of different transaction inputs leads to different sizes of mapped plots. Simply put, the size and output of the block are directly related to the Bitcoin block. Users can gain ownership of specific Bitcoin blocks by inscribing data into satoshis, similar to free minting. These protocols in the Bitcoin ecosystem actively respond to the limitations of the original inscriptions through innovative designs different from BRC-20, providing users with a more flexible and diverse experience. The Bitcoin ecological assets have also completed the transformation from 0 to 1. Inscription has completely opened up the lack of native asset protocols in the Bitcoin ecosystem, and has truly brought actual traffic and even broken the circle, providing for the continued exploration of subsequent ecological assets. sufficient conditions.
Opposition to the inscription
The development path of the Inscription Protocol is not destined to be smooth sailing. It has been deeply controversial since its inception, with the most notable opposition coming from Bitcoin Core developer Luke Dashjr. He has an extremely negative attitude towards the Ordinals protocol and has publicly stated on Twitter more than once that the protocol is an attack on Bitcoin. In September last year, he proposed a proposal titled "datacarriersize: Match more datacarrying #28408", which aimed to update the Bitcoin Core software to effectively use newer data carrying methods and limit the development of the Inscription protocol.
Compared with Ethereum or other Layer 2 public chains, developers in the Bitcoin ecosystem tend to maintain a more conservative development philosophy, that is, "fundamentalism." Especially with the advent of the Inscription Protocol, some developers believe it is actually a waste of valuable block space. The views of developers who oppose Inscription, such as Luke Dashjr, raise questions about potential security threats to the Inscription protocol and questions about Bitcoin's core principles. As a Bitcoin node operator pointed out, the current situation of the memory pool is quite bad. The number of spam transactions caused by inscription has exceeded 200,000, and this number seems to be rising. These junk transactions not only seriously affect the practical application of Bitcoin, but also have a negative impact on the performance and resources of the network.
Security concerns are also one of the main arguments of opponents. The security holes exploited by these Inscription protocols can lead to increased fees, longer transaction processing times, and even become a potential vector for DDoS attacks. Additionally, the degree of decentralization of the network may be affected, and nodes with fewer computing resources may struggle to meet growing demand, resulting in a more centralized network topology.
One of the things that may happen in the future is that if the Bitcoin chain continues to store too much and too large data, then at some point most block files may just contain endless amounts of BRC-20 JSON data . This situation could further hinder the performance and stability of the Bitcoin network, leading to an overall collapse of the network.
The controversy also reflects divisions within the Bitcoin community over how new technologies and protocols should be integrated and whether a more conservative route should be followed. In the completely decentralized ecosystem of Bitcoin, all technical modifications to the main chain require unanimous consensus among community developers. How to balance innovation and security has become the key here.
The future of inscription
However, it is within such debates and challenges that the Bitcoin ecosystem is able to gradually progress and adapt to market conditions. Just like the dispute over large and small blocks that arose due to the expansion of Bitcoin blocks, and the ensuing Bitcoin forks, differences in ideas and opinions eventually became the catalyst that will promote the progress of the ecosystem. It is in this multi-party interest game that the resilience and anti-fragility of the Bitcoin ecosystem are reflected.
The birth of inscriptions has triggered opposition and conflicts in the community, but the debate over inscriptions is a way for the Bitcoin community to further consolidate consensus - the experience learned from the dispute over large and small blocks shows that despite the controversy, the Bitcoin community The greatest consensus can still be found within the network and promote the development of the network in a healthier and more robust direction.
It is worth noting that the emergence of the Inscription Protocol did not plunge the Bitcoin ecosystem into chaos - on the contrary, it injected new vitality into the entire ecosystem, and its shortcomings also directly promoted the rapid development of various Bitcoin expansion plans. Looking to the future, the inscription ecology is showing a vigorous development trend, and its future development direction has gradually evolved from being mainly based on pure speculation to being combined with practical applications. This marks that the Bitcoin ecosystem has gradually matured from recklessness and entered a more stable stage. Various protocols and projects inspired by Inscription will further promote the widespread application and sustainable development of Bitcoin.
Architecture Optimization—Introduction to Existing Bitcoin Expansion Plans
Architectural optimization for the Bitcoin network has long been carried out - whether it is the early block expansion, the Lightning Network focused on payments, or the side chain that can adapt to smart contracts, the community has launched intense discussions and specific practices on it. However, although the Bitcoin network has long had problems such as congestion, its impact is not very serious - ETH and the Layer 1 craze it set off have shared the burden of application interaction that Bitcoin does not need to bear, allowing Bitcoin to focus more on the original design Just follow the core: value storage and transfer.
However, the emergence of inscriptions has fundamentally changed the situation. Bitcoin's shortcomings have been further amplified in the inscription craze. The continuous accumulation of unconfirmed transactions due to "inscription" has led to a surge in network transaction costs and memory usage——2023 In May, Binance, the world's largest centralized exchange, was forced to suspend Bitcoin withdrawals twice in one day due to a large number of withdrawal requests and soaring transaction fees. The next day, the Bitcoin network experienced a severe chain fork due to congestion, and at the height of the bull run, on-chain gas surged to its highest level since May 2021.
The Bitcoin network has never been more in need of scaling solutions than it is now, and the community has risen to the challenge - developers and researchers are constantly looking for innovative solutions to cope with the scale and transaction pressure of the network. Under this circumstance, various Bitcoin expansion plans have emerged and become the focus of the community.
Expansion plan classification
Currently, the mainstream Bitcoin expansion solutions are divided into three categories: state channel, side chain and Layer 2.
The state channel creates a private transaction channel under the chain, transfers some transactions outside the chain, and only submits it to the Bitcoin main chain when the channel is closed, thereby reducing the burden on the Bitcoin main chain. This solution has the advantages of instant settlement, low cost and high scalability, providing an efficient solution for small payments.
The research on state channels can be traced back to 2015 - at that time, Joseph Poon and Thaddeus Dryja proposed the concept of "Lightning Network" in the white paper and established Lightning Labs to focus on the development of Lightning Network, while in the Bitcoin area Blockstream, which played an important role in the Block War, also had a profound impact on the Lightning Network. Therefore, for a long time, the state channel solution headed by the Lightning Network has been ranked first in Bitcoin’s expansion plan: it has a strong development team. At the same time, there is enough "legitimacy".
The Lightning Network allows two users to establish payment channels that allow an unlimited number of small transactions to be conducted quickly and privately between them. The channel can be closed at any time, and the final transaction results are written to the Bitcoin main chain. The Lightning Network uses multi-signature technology to ensure the security of payment channels. When closing a channel, the transaction can only be broadcast to the Bitcoin main chain if both parties agree. Through the network interconnection of payment channels, users can pay through multiple intermediate nodes without directly connecting to the recipient. This approach improves network accessibility and flexibility. At the same time, the Lightning Network supports atomic swaps, allowing atomic-level transactions between different payment channels to ensure transaction consistency. Nodes in the network can dynamically route payments through multiple paths, improving payment success rates and reducing reliance on centralized services.
Sidechain is a technology used to extend the functionality and performance of blockchain, allowing users to transfer assets from the main chain to a parallel chain (side chain) for specific-purpose transactions and smart contracts, and then restore them again. to the main chain. This technology helps solve congestion problems on the main chain while providing more flexible and efficient blockchain applications. The concept of sidechains introduces more flexibility and functionality to Bitcoin and other blockchain systems, allowing users to transfer and operate assets between different chains more efficiently, while expanding the application scope of blockchain technology.
Discussions about Bitcoin sidechains have been around for a long time. In 2016, Blockstream proposed hooked sidechains as a possible way to expand Bitcoin, and many well-known projects have been born. Since sidechains can handle a large number of transactions on their own, they can greatly reduce the load on the main chain and improve the entire Ecological operating efficiency.
Layer 2 solutions build a new protocol layer on top of the main chain to process a large number of small transactions, aggregate them and then submit them to the main chain. This approach effectively reduces the transaction pressure on the main chain and improves the performance and efficiency of the overall network. This type of solution is highly praised for its fast transaction confirmation and low cost, and has been widely promoted as a mainstream expansion solution in the Ethereum ecosystem.
Introduction to Excellent Capacity Expansion Projects Lightning Network (Lightning Network)
The Lightning Network is a second-layer solution built on the Bitcoin blockchain and is designed to solve Bitcoin's scalability and low transaction speed issues. The Lightning Network was first proposed in 2015 and fully implemented in 2018.
The main features of the Lightning Network are fast, low-cost and scalable. It establishes a series of payment channels so that Bitcoin transactions can be conducted within the channels without being directly recorded on the blockchain. This can greatly reduce transaction confirmation time and transaction fees, and support a large number of parallel transactions. The Lightning Network relies on the RMSC protocol to ensure transaction security and reliability, while HTLC addresses routable scalability. The scalability of its architecture gives it very high performance.
Since its launch, the Lightning Network has gained widespread attention and adoption. More and more Bitcoin users, trading platforms and merchants are beginning to use the Lightning Network for fast cross-chain transactions and real-time payments. In addition, developers are constantly improving the performance and user experience of the Lightning Network, providing it with more features and scalability.
Stacks
One of the most well-known projects of Bitcoin sidechain is Stacks Network, which uses the Proof of Transfer (PoX) consensus mechanism to improve the performance of the Bitcoin network without modifying the architecture of Bitcoin itself. PoX is an adaptation of the Proof-of-Burn concept that involves miners transferring Bitcoin, the base cryptocurrency, to secure the Stacks blockchain and receive rewards, but is unique in that it uses a technology called Stacking "'s consensus mechanism allows users to participate in network governance and reward systems by locking STX tokens as collateral for network security.
Stacks introduces the Clarity programming language, which aims to provide a more secure, predictable, and easy-to-analyze way to write smart contracts. Through its integration with Bitcoin, Stacks adds smart contract functionality to the Bitcoin ecosystem while committing to user privacy protection and the development of decentralized finance (DeFi). Overall, Stacks aims to promote the evolution of the Bitcoin ecosystem and provide users with more opportunities to participate in the development of blockchain technology.
Notably, the Nakamoto upgrade launched by Stacks will introduce faster block production rates, further moving away from Bitcoin’s slower block times to create new Stacks blocks approximately every 5 seconds. The upgrade will also enable 100% Bitcoin finality, meaning Stacks blocks are expected to become as irreversible as Bitcoin transactions.
Merlin
Merlin is a Bitcoin-based Layer 2 released by Brc420 and the Bitmap team. In order to realize the cross-chain of BTC, Merlin Chain chose to adopt the MPC scheme of Cobo wallet. Although relatively conservative, the MPC scheme has been verified in terms of security. The project uses ParticleNtwrk's account abstraction, allowing users to continue to use Bitcoin wallets and addresses to interact with side chains, maintaining users' usage habits. Compared to having users interact with tools such as Metamask, Merlin is designed to be simpler and more user-friendly.
The previous success of Brc420 and Bitmap has allowed the project team to accumulate a large number of loyal users in the community. As the first project to propose the concept of the metaverse in the BTC ecosystem, Bitmap has gained recognition from the market and developers within half a year, and its The concept of BTC + full chain + metaverse is also very grand in terms of story, but the original structure of BTC cannot accommodate the concept of the metaverse and autonomous world - so Merlin was born and convinced users through its early user base and huge narrative.
CKB（Nerves）
CKB was launched in November 2019, using the PoW consensus mechanism and UTXO model, which is completely isomorphic to Bitcoin. In addition, CKB also has the Axon framework, which can realize "one-click chain sending". It has unparalleled advantages over other solutions in terms of security, expanded Bitcoin programming capabilities, technology accumulation, and ecology.
Since its inception, CKB has followed values that are completely consistent with Bitcoin, sticking to PoW instead of PoS currently adopted by most public chains, optimizing and expanding UTXO instead of turning to an account model, insisting on decentralization before TPS, and insisting on Unmanipulable release rules and more. Through the expanded UTXO model of Cell, CKB can provide more decentralized application scenarios for BTC OGs while maintaining a consistent experience with Bitcoin on the user and developer side - on CKB, you are the same You can use your Bitcoin wallet to operate CKB applications, make inscriptions, and perform address rotation to protect privacy.
The core of the expansion plan
In solving the programming capacity limitations of Bitcoin, the development of expansion solutions is crucial. The development of this layer can be seen as the evolution of the Bitcoin ecosystem - the fundamental problem of Bitcoin is that it is not Turing complete and lacks support for smart contracts, which limits the development of Bitcoin in more complex ecological businesses. By introducing smart contracts, faster transaction confirmation speeds, and low-cost transactions to make up for the limitations of the Bitcoin main chain, scaling technology allows developers to build and deploy decentralized applications (DApps) in a more flexible and efficient environment. .
With the gradual popularity of protocols such as Ordinals, BRC-20, Atomics, etc., assets on the Bitcoin chain have become more liquid and abundant. However, new challenges have also emerged - the Bitcoin mainnet cannot provide further application scenarios for these assets. Various expansion plans provide an ideal platform for this. By introducing more complex smart contracts and more efficient data processing mechanisms, these emerging digital assets can participate more extensively in the encryption world and further promote Bitcoin. The overall prosperity of the ecology.
Innovation on the application side
With the continuous development and improvement of protocols such as Ordinals, BRC-20, Atomics ARC-20 and Rune, the Bitcoin ecological application scenarios have gone far beyond the initial simple payment and value storage. The continuous innovation of the Bitcoin network token protocol and the surge in minting volume have promoted the rapid growth of its ecosystem, and at the same time, Bitcoin has finally ushered in the explosion of its own application ecosystem.
Wallets and Platforms—Inscription’s Boosters
The explosion of the inscription ecology has ushered in the spring of related tools and applications. Various inscription platforms and wallets have emerged one after another, and the most outstanding one among them is UniSat. UniSat provides users with transaction options in the Bitcoin ecosystem, including various inscription protocols, and provides users with an interactive experience that is consistent with the characteristics of Bitcoin and Ordinals, and therefore chose native inscription presentation.
UniSat not only provides users with inscription engraving tools and indexes, but also provides services through specially designed on-chain wallets for users who pay attention to the ownership of inscription assets (the traditional Bitcoin wallet cannot recognize the special UTXO of the inscription, which will lead to misoperation and treat the inscription as Ordinary BTC issued).
At the same time, UniSat has also launched a wallet focused on the inscription ecology - Unisat Wallet is a non-custodial wallet similar to MetaMask. Inscription Marketplace interacts with the wallet in a standard way. The seller's wallet signature provides a sell order, and the buyer signs to place an order to complete the purchase. The transaction is completely decentralized and the platform cannot intervene in the transaction process. It is essentially a point-to-point behavior between the two parties, so it is a safe transaction method.
It can be said that UniSat is the first open source browser extension wallet for Ordinals on Bitcoin. It can not only store and transfer Ordinals, but also view unconfirmed inscriptions, and is completely open source. This greatly enhances its potential within the Bitcoin DeFi ecosystem.
As a direct entrance to user interaction, the ease of use of the infrastructure directly determines the traffic retention of the corresponding ecology - wallets and platforms led by Unisat focus on user experience in this wave of Inscription bull market, and eventually grow together with the Inscription ecology. Ushering in an explosion of overall traffic.
Trading and Lending – Expanding Bitcoin Liquidity
The emergence of various Bitcoin expansion plans has further unleashed the potential of Bitcoin. Take Multibit as an example, it was launched in May to connect BRC20 assets with the EVM network, allowing users to easily transfer tokens between the ETH chain, BNB chain and BTC network. The goal of the protocol is to facilitate seamless transfers of tokens between the Bitcoin blockchain and other EVM networks to enhance liquidity and interoperability.
On November 12, Multibit completed an IDO auction on the auction platform Bounce Finance, raising 88 ETH. On the 4th of the same month, it once again completed an IDO on the Bitcoin network donation platform TurtSat at the same unit price, raising 4.64 BTC. The two fundraisings totaled about $350,000.
As of November 14, MUBI's opening surge reached 1140%, and the increase in the past week has exceeded 300%. Its current market value is close to US$70 million, with more than 6,000 holders. The total supply of MUBI is 901,224,547 pieces, all of which are currently in circulation.
MultiBit simplifies the process of transferring tokens between Bitcoin’s BRC20 and EVM networks. First, users transfer BRC20 tokens to a dedicated BRC20 address. Once confirmed, the Multibit protocol starts working, minting an equal amount of tokens on the Ethereum or BNB chain. Multibit Protocol collects tokens from all distributed unique addresses and securely transfers them to a unified cold wallet. When a user needs to withdraw tokens, Multibit Protocol will destroy the corresponding number of tokens from the EVM chain and transfer tokens of equal value from the secure cold wallet to the user. This process effectively simplifies the transfer of tokens between Bitcoin and the EVM network, improving the convenience of the entire ecosystem.
Conclusion
In this evolving ecosystem, the future of Bitcoin will not only benefit from diverse technological innovations, but will also be inspired by the fantastic ideas of developers. As one of the most important assets in the crypto world, every move made by Bitcoin will have a profound impact on the entire industry. The creativity and efforts of developers will inject new vitality into the Bitcoin ecosystem and promote its future development to achieve greater achievements.
We are full of expectations and look forward to seeing Bitcoin become more than just a digital gold, but the center of a vast ecosystem that is constantly innovating and evolving. CertiK, as a well-known security agency in the industry, has been playing the role of a lantern holder in the Web3 "dark forest" to ensure the on-chain security of users, project parties and institutions.
This article extracts and interprets the key contents of the CertiK report, hoping to help readers have a more comprehensive and in-depth understanding of the ins and outs of this Bitcoin ecological bull market, and to dig deeper into the research results of the development dynamics of Bitcoin and its ecosystem. If you want to read the original text , please click on the CertiK official blog link (here).
