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@ HaCKBee
2024-01-15 01:38:18HaCKBee Digest 2024/01/12
Crypto Insights
Potential BRC-20 Fork Brewing in Indexer War
A brewing conflict "Indexer War" is gaining momentum within the Bitcoin community due to differing BRC-20 upgrade plans. Layer 1 Foundation @L1Fxyz advocates for freezing the Ord protocol at v0.9.0 to maintain BRC-20 stability, while Unisat released a black/white module system allowing developers to introduce new BRC-20 features via black modules. The founder of BRC-20, @domodata (L1Fxyz), consistently emphasizing protocol stability, states that an agreed path forward has been achieved.
Luke Dashjr's Proposal on Restrict Inscriptions has Failed
Bitcoin Core developer Luke Dashjr's proposal to restrict inscriptions did not gain approval after extensive discussion. The proposal was closed on January 7th.
Project｜NodeMonkes: First Bitcoin 10K PFP
Source: nftnow.comProject | Khalani Network: New Decentralized Infrastructure Solution
Khalani Network unveiled its mission and vision in their recent article Introducing Khalani: The Decentralized Solver Infrastructure. This pioneering platform redefines the future of Web3 by offering solvers infrastructure for intent-driven generative coordination.
Opinion | The Importance of Ordinals in Bitcoin's Security Model
The Messari Crypto Theme 2024 report presents its perspective on Bitcoin's security model, suggesting three possible solutions. It highlights the dependency on Ordinals in Bitcoin’s security structure, and underscores a long-term security model and the challenge of incentivizing miners.
Opinion | The Success of AI Depends on DAO
@thycommodore believes that the innovative integratino of AI as the middle layer might revolutionize DAO structures and their efficiency overall.
Top Reads on Blockchain
Rooch's On-Chain Indexer: Novel Solution for Bitcoin L2?
Bitcoin Layer 2 solutions are largely classified into three types. However, Rooch offers a novel solution using on-chain indexers to expand the Bitcoin ecosystem. Rooch proposes a unique expansion strategy for Bitcoin, utilizing on-chain indexers to synchronize Bitcoin data into MoveVM for innovative L2 solutions, meanwhile ensuring that user funds retain their native Bitcoin status. Moreover, Rooch offers flexible customization to integrate into various infrastructure, and implements Bitcoin light clients with smart contracts. All Bitcoin block headers and UTXO states synchronize with Rooch as MoveVM objects, enabling on-chain applications to leverage indexed Bitcoin UTXO information in Rooch smart contracts.
Source: rooch.networkReevaluate Etherscan: Awesome but Possibly the Point of Failure for Ethereum?
Ethereum's growing dependence on Etherscan raises concerns about potential risks. Etherscan has gained substantial popularity within the Ethereum community as a go-to solution for tracking transactions and contract interactions. However, as a closed-source platform, it jeopardizes the core value of the Ethereum ecosystem - decentralization. The article also mentions several open source alternatives, such as Beaconchain, Blockscout and Otterscan, and points out that the challenge for these decentralized explorers is how to generate revenue and maintain commercial viability without compromising integrity.
Source: marcoworms@mediumCoin Metrics' State of the Network 2024 Outlook
Bitcoin ETFs are attracting singificant interest. In this article, CoinMetrics discusses the potential implications of a Bitcoin ETF receiving approval from the SEC. Central to this discussion is Bitcoin's on-chain supply dynamics. Interestingly, over 30% of BTC hasn't been circulated for over five years, but ETF inflows might alter this narrative. It is also important to note that while ETFs could amplify Bitcoin's legitimacy, they might also parasitize trading volumes. Looking ahead, the fourth Bitcoin halving in 2024 is set to introduce significant supply and demand shifts, redefining Bitcoin's narrative in the next few years.