Space Summary
The Twitter Space Where Does the Potential Breakthrough of the BTC Ecosystem Lie in? hosted by oooo_money. Delve into the future potential of the Bitcoin ecosystem through a modular omnichain interoperability protocol, unlocking scalability, functionality, and adoption across multiple chains. Explore innovative solutions, partnerships, and cross-chain communication driving advancements in Bitcoin. Witness the transformative impact of technology integration on Bitcoin's growth and scalability. Discover how collaborative strategies and scalable solutions are revolutionizing Bitcoin's functionality. Envision the future landscape of Bitcoin's interoperability, shaped by innovative protocols and technological advancements.
For more spaces, visit the Unique Projects page.
Questions
Q: How does modular omnichain interoperability benefit the BTC ecosystem?
A: Interoperability enhances scalability, functionality, and adoption across multiple chains in the Bitcoin ecosystem.
Q: What role do innovative protocols play in advancing Bitcoin's scalability?
A: Innovative protocols drive scalability solutions, addressing challenges and expanding utility in the BTC ecosystem.
Q: Why is cross-chain communication critical for Bitcoin's potential breakthrough?
A: Cross-chain communication maximizes Bitcoin's functionality, enabling seamless interactions across multiple chains.
Q: How are partnerships shaping the future of the Bitcoin ecosystem?
A: Partnerships drive collaborations that propel advancements, fostering interoperability and scalability in the BTC ecosystem.
Q: What is the significance of technology integration in evolving Bitcoin's ecosystem?
A: Technology integration drives growth by innovating solutions, enhancing scalability, and expanding the functionality of Bitcoin.
Q: How are scalability challenges being addressed in the BTC ecosystem?
A: Innovative solutions are tackling scalability challenges, paving the way for the future scalability and adoption of Bitcoin.
Q: What are the key drivers of innovation in the Bitcoin ecosystem?
A: Innovation is fueled by cross-chain protocols, partnerships, and scalable solutions that shape the evolving landscape of the BTC ecosystem.
Q: How do cross-chain collaborations revolutionize Bitcoin's ecosystem?
A: Cross-chain collaborations drive interconnectivity, scalability, and utility across multiple chains, revolutionizing Bitcoin's ecosystem.
Q: What are the main benefits of enhancing Bitcoin's interoperability?
A: Enhanced interoperability boosts functionality, adoption, and scalability, unlocking new possibilities and driving growth in the BTC ecosystem.
Q: What potential breakthroughs can be expected in the Bitcoin ecosystem?
A: Breakthroughs in scalability, functionality, and adoption are on the horizon, driven by innovative protocols and cross-chain solutions.
Q: How can technology advancements shape the future trajectory of Bitcoin?
A: Technology advancements drive transformative changes, optimizing scalability, functionality, and interoperability in the Bitcoin ecosystem.
Highlights
Time: 00:19:45
Exploring Modular Interoperability for Bitcoin Ecosystem Diving into the benefits and implications of modular omnichain interoperability for Bitcoin's growth.
Time: 00:37:12
Partnerships Driving Innovation in Bitcoin Space Analyzing the role of partnerships in fostering collaborations and advancements within the Bitcoin ecosystem.
Time: 00:52:28
Scalability Solutions in BTC Through Cross-Chain Communication Understanding how cross-chain communication addresses scalability challenges and propels Bitcoin's evolution.
Time: 01:10:05
Future Outlook: Innovations Shaping Bitcoin's Ecosystem Exploring the future landscape of Bitcoin through innovative protocols and technological advancements.
Time: 01:28:49
The Intersection of Technology and Bitcoin's Evolution Discussing the impact of technology integration on driving growth and scalability in the BTC ecosystem.
Time: 01:45:17
Collaborative Strategies for Bitcoin's Interoperability Examining how collaborative strategies enhance interoperability, functionality, and adoption in the Bitcoin ecosystem.
Time: 02:01:34
Innovative Cross-Chain Protocols Revolutionizing Bitcoin's Functionality Unveiling the transformative role of cross-chain protocols in revolutionizing Bitcoin's functionality and scalability.
Time: 02:19:50
Driving Growth: Scalable Solutions for BTC Ecosystem Delving into scalable solutions that drive growth, address challenges, and unlock new potentials for Bitcoin.
Time: 02:35:29
The Future Vision of Bitcoin's Interoperability Landscape Envisioning the future possibilities and landscape of Bitcoin's interoperability driven by innovations and collaborations.
Time: 02:50:11
Empowering Bitcoin's Ecosystem through Technological Advancements Empowering Bitcoin's ecosystem through technological advancements that optimize scalability, efficiency, and interoperability.
Key Takeaways
- Modular omnichain interoperability is key to enhancing the Bitcoin ecosystem.
- Innovative protocols are driving new possibilities for Bitcoin's scalability and utility.
- Ecosystem breakthroughs rely on seamless integration across multiple chains.
- The interconnectivity of chains can revolutionize Bitcoin's functionality and adoption.
- Scalability challenges in the BTC ecosystem are being addressed through innovative solutions.
- Cross-chain communication is vital for maximizing the potential of Bitcoin.
- Partnerships and collaborations are propelling advancements in the Bitcoin ecosystem.
- The future of Bitcoin hinges on interoperability and scalable solutions.
- Innovations in cross-chain protocols are shaping the evolution of the BTC ecosystem.
- Exploring the intersection of technology and Bitcoin's ecosystem for future growth.
Behind the Mic
Introduction to the Channel
Our channel it.
Greetings
Hello, guys. Good evening, GM. Yeah, I can hear you. Awesome. Yes. Perfect. Okay, let's wait for other guests.
Checking Connections
Hey, Kara. Check. Check. Hello? I can hear you. Yeah, perfect. Nice.
Participants Introduction
Yes, I can. Sure. And Jojo. Hey, Hojo. Right? Yeah, it's pretty clear. Yeah. Now let's wait for Uttman. Uttmandae.
Welcoming Everyone
Hey, Yukman, could you please request. Hey, bro, can you hear. Cool, cool. Now we got everyone here, so. Hey, guys, welcome tonight's Twitter space. This Twitter space is hosted by ooo Protocol and. And co hosted by Micron.
Discussion Topic Introduction
So tonight's topic is about where does the potential breakthrough of the bitcoin ecosystem lie in? Okay, I'm gonna give you a short intro of the background.
Bitcoin Ecosystem Evolution
We all know that with the birth of the ordinals protocol, ever since 2023, the bitcoin ecosystem has introduced a new type of asset, which is called inscryption asset. So this native asset insurance method quickly gained market popularity, which is leading to the development of more asset insurance protocols such as BRC 20 runes and well known inscription assets like Audi, SAS and bitcoin native nfts.
Market Growth and Challenges
And after that, bitcoin ecosystem has entered a new era of growth, attracting, like, significant capital users and developers. But however, the limitation of bitcoin as a LiU two network are gradually becoming apparent. Like it does not support smart contracts, making it more difficult to expand to application scenarios. And also its performance and minor fees have become obstacles as transaction fees increased during peak periods, even affected normal transfers.
Hot Trends in the Ecosystem
Okay, so with this inscription getting popular earlier this year, and the rapid rise of various layer twos, the bitcoin ecosystem has become a hot trend, giving birth to many relative Dapps with promising future developments. So today, we have invited our special guests. I will give you a short introduction of all our speakers.
Introducing Special Guests
So, first of all, Cara from ooprotocol, the first module omnichannel interoperability protocol that support the bitcoin ecosystem. And we got Jojo from Macron, which is the leading bitcoin text based in its latest traditional bitcoin layer two, bridging bitcoin eth, BSc tone and Solana assets to the twelve chain. And we have utmian from AI layer, combining AI with bitcoin two solutions. And we have Lindy from TNA protocol, which is a did and da layer of bitcoin.
Speaker Welcomes
Okay, welcome, guys. Welcome all of the speakers. It's our pleasure to have you guys here to explore the future path of bitcoin level two and dive deeper into potential breakthroughs for bitcoin's ecosystem in the future. Okay, I'm gonna invite our speakers to introduce yourself and your project.
Kara's Introduction
Let's start with Kara. Hello, host, I can hear you. Nice. Could you please introduce yourself? Sure. Hello everyone. Sure. Hello everyone. I am so happy to be on this stage to share my opinions with you. And I am Kara, the marketing lead from O.
Kara's Project Overview
First of all, let me introduce my project. O is the first modular omnichan interoperability protocol supporting the bitcoin ecosystem and our project. It is designed to adjust blockchain isolation and liquidity fragmentation. Our modular communication protocol architecture ensures the integrity and reliability of data and transactions within the bitcoin ecosystem.
Project Functionality
As for our first scenario, it is cross chain transfer for our users. In another word, it is a bridge. So far, we have integrated with more than 30 layer two solutions, including nearly 20 bitcoin layer two solutions. And all of you are invited to go to our official website to have a look and experience it.
Performance Metrics
Since our launch at the very beginning of this year, we've got over 1 million transactions and 0.6 million volatile digestives. We provide users with a faster, secure and reliable cross chain transaction experience. Welcome everyone to cross transfer your crypto asset by using our bridge. And if you are bullish on us, please give us a follow on our Twitter page. Thank you.
Jojo's Introduction
Thank you host. Thank you for the introduction, Kara. Sounds very promising. Jojo, would you mind to introduce yourself and the project? Yeah, sure. Thank you for having me.
Overview of Macron
So hi guys, I'm Hozhou, I'm the marketing director of Macron. So Macron is the first native docs of Bitlayer and in the future our trading assets and users within the Bitlayer ecosystem will benefit from our products and services. And recently we launched Micron Telegram Bot.
Micron Telegram Bot Capabilities
So the bot provides seamless mobile experiences and allowing users to trade, stake and track assets directly from their phones with an enhanced UI that makes everything more intuitive. And users can also track our defi points and participate in the referral reversed system and earning more points by inviting friends to join.
Event Collaborations and User Benefits
So on the events front, we are actively collaborating with our ecosystem partners to facilitate the asset trading and increase liquidity and offering the better scenarios and also about the rewards opportunity for users. So for example, like already recent bridging and trading festival can be simple.
Bitlayer Ecosystem
So as the bit layers native Dax macaroon will serve as the getaway of the bitlayer ecosystem. Yeah, that's it. Thanks.
Heiman's Introduction
Oh, thanks for the introduction. Next, we got Heyman from job Labs. Could you please introduce yourself and the project? Hey, I hope you can hear me. Thank you so much for inviting travel labs here. It's great to see the speakers as well here.
Background of Heiman
So let me introduce myself. I'm Heman. I have been in travel labs since the beginning. I'm a committee and VD. I'm also into this space from past five years in various sectors like DeFi, NFT, AI and deep in recently again and RWA as well.
Travel Labs Overview
So yeah, let me just give some information about travel apps. Travel apps is the forefront of blockchain innovation, pioneering the first modular institutional bitcoin layer two solution. So our technology enables hyperspeed transactions and devolve smart contracts on the bitcoin network.
Products and Technologies
We have few products like ZK rollup technology and we also do hyperspeed transaction protocol. We support it. And we are also having a cross chain bridge as well. And we are EVm compatibility apart from this. Yeah.
Thanking the Host
Thank you.
Uthman's Introduction
Well, thanks for the introduction. Yukman, are you there? Could you please introduce yourself and the project? Thank you very much for having me. And I want to confirm you can hear me. I'm audible enough.
Confirming Audio
Before I proceed with the introduction. Can you confirm you can hear me? I'm audible enough. Could you confirm you can hear me? Macron? Yeah, your voice is. Yeah.
Uthman's Experience
Thank you very much for having me here today. Uthman is my name and I'm representing AI layer personally. My experience in the space has been over seven years. Coming from a technology background, I have a degree in cybersecurity science and I transcended to web three.
Career Background
And over the years I've worked in different capacity, ranging from community lead, head of community marketing, growth strategies, etcetera. Also for the security background as well, we built the forces and lies p two p marketplace in the space with our investment from likes of binance walking hand in hand with Cz.
Previous Projects and AI Layer Introduction
In the past, we built Powermail, the fourth game pipeline. Now currently the head of community of Air layer, I'm now the head of committee of Alia. And what we're doing in Alia is we're combining or converging artificial intelligence with bitcoin layer two solutions.
Innovations in the Space
I would say one of the greatest ideas that we've had over the last few years in the space, the advent of inscriptions, the idea of inscribing something on a bitcoin ecosystem. So what we're doing is building an infrastructure base to power next generation of sunlight's application on the bitcoin ecosystem.
Introduction to Modular AI and Blockchain Ecosystem
What does an audacious move be in the force modular AI to solve this problem. And our solution is dedicated to create a more seamless and efficient blockchain ecosystem. And we are doing this by leveraging AI, and we aim to improve scalability and transaction speed and also decision making within the network while enhancing the user experience for both developers and end users. And over the years, we've gotten our investment from some and let's say from incredible vc's, like the water drip. A water drip. We've accumulated about $700 million in TVL. Innovation is a supporting mass adoption, like I mentioned earlier. And we have, using some technologies like the ZK EVM, we have a l one proud proof technology framework, and we also have a lot of AI subnets to lay a foundation for building AI models that has an algorithm.
Ecosystem Overview and Development
We also have a thriving ecosystem with over 100 projects right on our main net, such as the Hanswap, bitfire, et cetera, sovereign protocol, et cetera. And one of our ecosystem projects to let you know that they are thriving. Bitfire, for example, has over $400 million in TVL as well. So thank you very much. And that's a brief for me. Yeah. Wow, that's a real. Hey, Lindy from DNA protocol. Hey. Hi. Nice to meet you. Please introduce yourself. Yes. Yeah, sure. Perfect. Yeah, I'll start with myself. So, my name is Lindy. I'm leading our efforts to grow the ecosystem for TNA. I come from a project management background where I spent a few years at Microsoft and transitioned into web three in 2020.
TNA Protocol and Its Goals
And since then I've had the opportunity to work across different regions, including the US, Southeast Asia and Africa, mainly focusing on community education and building strong crypto networks. So TNA introduces a naming layer and the data availability a DA framework to bitcoin, leveraging the Tab protocol, and it's built directly on the bitcoin mainnet. We are experimenting with bitcoin's unique architecture to create a naming service, something not entirely new, but due to bitcoin's uniqueness. Right, we are able to introduce some special attributes. And so far we have around 20,000 mints of premium names, with some holders even paying for more than one BTC for a name. And our goal is to build a robust, decentralized name service native to bitcoin, which opens up new possibilities for identity and asset management in the bitcoin ecosystem.
Audience Engagement and Campaign Details
Well, well. Okay. Once again, thank you for all of our speakers, and thanks for all of our audience to be here tonight with us to talk about where does the potential breakthrough of the bitcoin ecosystem lie in. Okay, let's start with the question part. So for the first question, it's for our host and co host. Okay, so as the host and co host, I heard that OOO and Micron have launched a bridge and trade to earn trading points campaign. So could any one of you introduce this campaign to our audiences just in case anyone is interested to join? Would you like to introduce it, JoJo? Absolutely. I'd love to share some details about the campaign, like how it works and how the participants can join. So I believe this is the joint effort between Ole and MACM.
Explaining the Trading Points Campaign
So we're rewarding users for participating in the cross chain asset bridging and trading on the Macron platform. So about how it works. So firstly, we need to bridge assets using one of our participating cross chain bridges. And the front chain is totally open and so you can use BTC, ETH, USDC and USDT. So the only condition is that the two chain must be bit layer. So which ensures you are operating within the bitlayer ecosystem. So after bridging, let's simply trade macron using the same wallet and make sure you're trading pairs that are with the Macron points label so you can recap the reverse. And after that, if you complete both asset bridging and trading steps, you will qualify for two times the five points of Macron.
Rewards and Campaign Benefits
And for every like 1010 USDT bridge entry, you will earn like 20 micro 95 points. So not only do you get rewards from Macron, but you also get additional bonuses from the cross chain, the bridge you use. So just make sure you use the same wallet of both stocks and check that you are trading in the eligible pairs. So finally, we want to like to give a big shout out to OAU for participating and adding even more value to this event. And because you know, Oo is offering like eight OAU points plus 2020 USDT over voucher pack per bridging. So there are multiple layers of reverse you can unlock. And also, this campaign has been going strong for like three seasons now and the feedback has been like pretty positive.
Future Promotions and Incentives
So I believe that is a great way to experience cross chain bridging and trading while earning some more awesome rewards at the same time. Yeah, that's it. Thanks. Thanks for the intro. If anyone here is interested in the campaign, please visit Micron's official website and just enjoy the event and earn the points. Cara from 40, do you have any extra comments on this campaign from your side? Yes, I have something else to say. And in this event, users who bridged to Bitlayer and trained on Macron by using OoO will receive double points from Macron and good points as well as the watchers. And in the future the good points can be redeemed for token during our TGE and watchers can be used to reduce the transaction fees.
Promotional Offers and Joining Opportunities
By the way, there is a limited time promotion for Bitlayer. That means users can enjoy zero fees when bridging from or to bit layer. That means you only have to pay the guest fee to start this event by bridging on our platform. And welcome everyone to join. Thank you. Thanks for the interest. That's really exciting. Okay, let's go through the question part. The first question is that the emergence of bitcoin level two gave rise to war corresponding DF demands. And how has the project you represent here contributed to those various niches within the bitcoin led to ecosystem? Yes man, would you mind start first?
Technological Innovations in Bitcoin Ecosystem
Okay, thank you very much for having me once again. And I think that's a very wonderful question because I am of the opinion that the rise of the bitcoin layer two solutions has really sparked a lot of demand for the hap in the space. This can actually improve the scalability that we've been offered for a very long time. Yearning for it also increase the transaction efficiency and user friendly interfaces. And I've seen over the years that some of the key demands include having a decentralized exchange lending platform and seamless purchasing asset management right on bitcoin, because this asset leverages the Tampa proof security and personalization of the bitcoin itself.
Innovative Solutions by AI Layer
So AI layer, for example, which is the project I represent, we are addressing this need and that's why we invest in the future. We are addressing this very need by incorporating AI into bitcoin, because AIH is an irresistible force that is revolutionizing the space we are having today, complementing humans in all different form of life. So now what we're trying to do is to take this technology and integrate it with AI to enhance transactional outing the infrastructure base, predictive analytics for the market movements, and also optimizing resources allocation for smart contracts. And this is this.
Building Infrastructure and AI Applications
We're doing this just to make sure that we can integrate. This integration creates smaller dapps that can actually process large scale transactions more efficiently, you know, cost effective and also improving performance, and also during the peak period as well. So what we're doing in AI is building an infrastructure base that powers the next generation of AI applications, AI dapps on the bitcoin network itself. So, yeah, AI is investing in that future, and we're very happy to talk more on that.
Discussion on TNA Protocol's Unique Contributions
Wow. Thank you. That's really inspiring sharing. And this was so quick. AI with bitcoin sounds very promising. We share great future to AI layer. Okay, so let's get to TNA protocol. We have Lindy here. Could you please share? Cool. Yes, sorry, could you please repeat the question? Yeah, sure. As the emergence of bitcoin layer two give rise to what corresponding Dapps demands and how has your project contributed to this various niche market within the bitcoin layout two ecosystem?
User-Centric Development in Bitcoin Ecosystem
Yeah, I think that's a very interesting way to frame the question, because I kind of find it quite ironic that we are often discussing these applications or demands supposedly created by layer twos, but in reality they should really come from the users. And I think right now we are living in an era of, in my opinion, overbuild of these layer ones, layer two, layer threes, which are all fiercely competing with each other. And we believe that what the bitcoin ecosystem really needs are applications that cater to real user needs, not just, you know, airdrop haunters or speculative hype.
Framework for Decentralized Applications
Although to be fair, these can be seen as user needs as well. But these are not healthy or like, not sustainable in the long run. Vitalik once said that ENS is Ethereum's, one of Ethereum's most successful applications, non financial applications. Right. And we actually, we've taken this inspiration from that at DNA. We aim to become one of bitcoin's non financial experiments by offering a standard for bitcoin native interoperable did system, and by offering another asset variety, provides such valuable social assets that can be serving as the foundation for both financial and non financial applications for the bitcoin ecosystem.
Bridging Fragmentation in the Ecosystem
But however, the bitcoin infrastructure is quite fragmented and to address this, we are building this DA framework to unify different data standards across the bitcoin ecosystem. And our goal is to make our names function seamlessly and securely across its these chains and making them interoperable and secure. And this is how we contribute, not by adding just another layer to the overbuilt bitcoin landscape, but by creating something that users really need. Yeah, I'll pause there.
Preparing for Future Developments
Thanks for sharing. I guess the real user scenarios will be a really important part for bitcoin ecosystem, and I'm sure that did. And DA layer would be really potential niches for bitcoin ecosystem. Okay, now we, I'm gonna invite Eman from chart labs to give us some insights of these questions. Yes, yes. Thanks for the question. It's great. The previous speaker has shared most of the information, but let me just share a few more points in a short so the emergence of bitcoin layer two has driven demand for more decentralized applications, especially in faster payment like lightning network in my opinion.
Trends in Decentralized Applications
So and also apart from this, yeah, it's also doing good in DeFi on other NFT marketplaces and also cross chain bridges especially, I can say. So this is enabling more efficient and scalable decentralized applications. So yeah, and coming to the other part of the question. So yeah, there will be a cross chain bridge from trovelabs especially. And also like we have hyperspeed transaction protocol. So this will also enable from troll app side.
Introduction and ZK Rollup Technology
And yes, we also have ZK rollup technology as well. Thanks. Cool. Thanks for sharing. Now let's welcome Jojo from Macro, who has been leading the bitcoin debt. So Jojo, would you mind to share your insight? Yeah, sure.
Demand for DApps and Scalability Challenges
So the rise of bitcoin, their two solutions like Belair, has driven a demand for Dapps that can handle like high transaction volume efficiently without the security of decentralization, the security or decentralization. So users expect the faster transactions with lower fees, but also the ability to engage in more complex financial activities like DeFi, staking the liquidity provisions and so on. So these demands have created like a growing niches for decentralized exchanges, which is a dexsitive and including the yield generating platforms and other financial applications to thrive on bitcoins there too.
Micron's Approach to Scalability
So us like we as the first native DaX there, Micron has taken on these challenges directly and we optimized scalability by leveraging layer two infrastructure in ensuring that our platform handles large volumes of trees with low fees and lightning fast confirmation times. And we've also designed our platform to be like the user friendly and offering permissionless and fully decentralized experiences. So our focus on user engagement is evident through features like trading fee incentives, liquidity provider rewards, and also as well as our community driving points in airdrop, in the air, job rewards, this kind of stuff. Yeah, that's it.
Community Engagement and Micron Campaigns
Thanks. Thanks for the sharing. Everyone. Please click for Microns official website or the Twitter account to know more details about the campaign to try to earn the points. So thank you for the sharing and it was really enlightening. Let's hear from Cara from four O's protocol. What are your thoughts on this question?
Limitations of Bitcoin Base Layer
As we all know, the Bittercom base layer has certain limitations and the purpose of bitcoin layer two is to adjust the scalability issue and make the transaction faster and lower the chances the transaction fees, etcetera. And after all these problems, the demand for Dapp in various sectors has merged. And they mainly focused on cross chain bridge, defi NFT and digital asset management and Gamefi and other entertainment dapps. And as for us, for all, we make it easier for assess to flow and convert between the different trains and different networks and boosting the liquidity.
Open SDK and Project Offerings
And for users we add as a bridge. And for projects, we offer additionally the swap and gas station service, etcetera. And with our open SDK B two b client, that is to say, the projects can seamlessly integrate our filter. And that's it. Thank you. All right, thanks for all of your sharing.
Bitcoin Ecosystem and New Asset Types
And I guess at the start of this ma, we mentioned that since the birth of Adenos in 2023, the bitcoin ecosystem has welcomed various new types of assets. So, dear speakers, how do you view the rapid rise of bitcoin assets and other new bitcoin assets, and as well as the bottlenecks currently faced by the bitcoin ecosystem. Yu chiman, could you please, like, give us some of your valuable insights of this question?
Challenges Facing Bitcoin
Hey, Yootman. Hi there. Yeah. Yeah, sure. Okay, that's fine. So, question I said, the rapid rise has really showcased value this asset smart contract functionality, which aile is actually addressing at the moment. And we also have higher transactions fees. And this is because of the inherent cost, transaction cost for inscribing on the bitcoin challenges are really posing challenges to the growth of this ecosystem.
Utilization of Resources and Emerging Projects
And you know, I think one of the speakers that talks earlier mentioned about utilization of resources, the fierce competition has been on projects. We also have projects like the moon token, which has actually been a lot of attention the past few days. And there's a question about like, misuse of the delivery, limited resources on the bitcoin network itself. So basically, you know, without smart contracts, you know, it's going to be a challenge become quite difficult.
Digital Assets Management
We have managed assets on a digitalized, permissionless manner. We can all argue that bitcoin is not good to have. Can anyone hear him? His voice is breaking here. No, I cannot hear from my side. Yeah, me too. What about, what about. Let's go to another guest. Hey, Yutman, are you still there? Because no one can hear you.
Technical Issues Experienced During Discussion
Okay, can you confirm you can hear me now? It's breaking. Is it fine now? Yeah, yeah, it's better. So am I audible enough? Not sure. I'll probably my mic. Yeah, so sure. So, do you get lost at some point or you haven't been hearing me so far? your voice kept breaking, so I literally hear nothing from you. Okay, let me just start again.
The Emergence of Bitcoin Assets
So, what I meant is like, you know, the rapid rise, you know, in bitcoin native assets like the ordinals, the BRC 20, nfTs, etcetera, you know, most of this emergence of these assets has really shown traditional role as a store of value, you know, because most of the bitcoin use cases are revolving around finance, you know, the soft value, etcetera, you know, anti inflation, all sort of that.
New Applications in the Bitcoin Ecosystem
So this advent of this asset has really bring new life into the ecosystem and has opened door for more applications such as decentralized finance like nfTs, etcetera, on the bitcoin network itself, which we haven't been seen. However, the bigger problem is some of the factors, like lack of the smart contract functionality and the high transaction fees are limiting the bitcoin layer one network.
Challenges to Growth in the Ecosystem
And this has really posed a lot of challenges to the growth of this ecosystem. And we all agree that. We would all agree with me that without smart contracts capability or smart contract support, it becomes difficult to scale dhaps and manage assets in a decentralized and permissionless manner on the network. So generally, I'd say the higher minor fees during congestion period discourage smaller users from engaging with the network, which is the cost problem inherently within the bitcoin ecosystem.
The Role of Layer Two Solutions
Right before we even have the advent of the layout, layer one or layer two solutions on the bitcoin network. And that's why expansion of layer two solutions like lightning Network, you know, we have. What's the name? Is it roll ups? Yeah, yeah. Roll ups and other new layer two projects. So much crucial.
Flexibility and Lower Transaction Costs
And these solutions will allow more flexibility in a lower transaction costs and ability to deploy more complex applications like we see on other ecosystem, like Ethereum and Solana. So that's, I believe once we can have lightning has actually proven this, I think, about two years ago, three years ago, 2021. But at some point in time, there are also problems with that. I believe it's still a work in progress. We are getting there.
Future of Bitcoin Ecosystem
With time, we can assume of an ecosystem that is fully powered by a lot of the hubs that could transform the space in general. So thank you. Okay, so let's welcome Lindy from DNA protocol. Could you, could you share some of the insights? Sure, yeah.
Insights on New Projects and Assets
So word knows really strict inside. Yeah, yeah. Cool. I hear my echo. Okay. Now? Yeah, it's perfect. Okay, cool. Yeah, so we're not really filled things up in 2023, and since then we've seen a wave of new assets and projects on bitcoin. A lot of people have questioned why we would need anything beyond just bitcoin itself.
Value Added by New Assets
But in reality, these assets for projects have brought more attention to bitcoin as a blockchain, and they have helped materialize the value of the new primitives enabled by the taproot upgrade. That being said, while BRC 20 ordinals and runes are great steps forward, they are still quite limited.
Limitations of BRC 20 Ordinals
As you previously mentioned, you can't really build things on BRC 20 without relying on third party data services, which introduces centralization or solutions kind of disconnected from the bitcoin minnet. What we really need, I believe, are more functional assets directly on the mainnet, Tafu assets, as an example, youthman just mentioned a few times, Lightning Labs Tapro access protocol was actually developed by lending labs.
Infrastructure Challenges
It's a good step in that direction since they fully take advantage of the Tapro upgrade, but the infrastructure to support them is still evolving. Not many wallets are supporting Tapro assets and so on. I think it's still too early to say that the bitcoin ecosystem has hit any bottlenecks.
The Early Stage of Bitcoin Ecosystem
Because we are in such an early stage, we will likely see a mix of more assets and layer two solutions working together. We just need to keep building out the infrastructure to support this growth sustainably. And that's exactly where TNA comes in.
Foundation for Interoperable Assets
We are focusing on creating the foundational infrastructure for interoperable, secure and decentralized assets and management on bitcoin to ensure the ecosystem can scale and thrive. Well, I myself 100% agree that bitcoin is still in its early stage, so that's why everyone can see its potential, and that's why we're here building on bitcoin ecosystem.
Closing Remarks and Future Directions
Okay, thanks for the sharing, Lindy. Let's have Yiman from Chof Labs. Would you mind, share some of your insights? Yes, definitely, sure. Thanks. Like previous speakers covered most of the points, so let me just give few more about that.
Addressing Bitcoin Network Challenges
So, yes, the rise of bitcoin assets like all the tokenized one nine, also like inscriptions and as well as other asset protocols like such as digital collective business as well. So the bitcoin network still faces somewhere some challenges. I have come across few slow transactions and also few high fees during some times.
Efficiency and Transaction Processing
So this makes limited connections to cross bridge blockchains and also the layer two solutions and some other side chains are helping, but there is still some work to be done to make more efficient and also for a wider audience for these new purposes. And coming to trove chain's perspective, we will be handling transactions significantly to increase the number of tps compared to the ongoing layer two solutions which are having now.
Collective Processing for Improved Performance
So this reduces the burden of bitcoin network, allowing it to maintain its performance and also having security at same time. So in simple terms, the transactions are grouped into batches which are processed collectively. So this method minimizes the number of on chain transactions, so which will also reduce the fees and also have an enhancing throughput. Thanks.
Final Thanks and Transition
All right, thanks for sharing, Jojo and Kara. Any extra comments on this question? If now we are going to move to another question? Well, we're going to pass discussion and let's go to our last question of tonight's Twitter space.
Inspiring Future Marketing Campaigns
So it's a very inspiring question about our marketing campaigns in the future.
Introduction and Questions
So, dear guests and speakers, as an experienced builder in the bitcoin ecosystem, how do you view potential breakthrough for the bitcoin ecosystem? And are there any marketing campaigns that you plan to launch in the recent future with current market trend? Hey, youth man, would you like to start first? Are you there? Hey, bro.
Response from Joshua
Yeah, yeah, I can hear you, Joshua, thank you very much. On the last note, the comment I would like to make as regards to, please. The last question, I suppose, is, you know, the potential breakthrough in the bitcoin ecosystem, is that correct? Yeah, 100% correct. And about your market campaigns launched in the recent future. Okay, okay. Okay, that's fine.
Breakthrough in Bitcoin Ecosystem
So, yeah, you know, I'll say on the last notes that the breakthrough we've been having in the bitcoin ecosystem, it lies in the widespread adoption of the layer two solution. Because layer two solution has proven to be able to solve some bottlenecks you're currently facing, like scalability, cost effectiveness in terms of reduction of fees, and also enabling smart contracts like AI, Elia is currently doing with the combiners of AI. And as the infrastructure matures, we expect more institutional interest and the app development, which will further propel the bitcoin relevance as a transactional and programmable network and not just a previous glory of being a store of value.
Marketing and Upcoming Campaigns
And at leah? Leah. We're planning a series of campaign, I think we just concluded April 21 and April 2 campaign, social campaign that has about 300,000 subscriptions and users who participated. And we're also looking forward to launching some sort of like, upcoming initiatives which we include developers incentives, hackathons and partnership with all layer two projects to build AI integrated Dapps. That would simplify the user experience and accelerate the adoption of bitcoin layer two. And we also believe that this effort will also help and to position bitcoin, like I always mentioned, as not just a financial asset, but as a core infrastructure for decentralized application, leveraging its decentralization stamp upon security and more.
Updates from TNA Protocol
Okay, everyone, please follow AI layer's Twitter and see the updates for the latest campaigns. Now we have Lindy from TNA protocol. Would you mind to share? Yes. So, as for the potential breakthrough directions for the bitcoin ecosystem, I think the issue with the bitcoin ecosystem right now is that these meme driven short cycles that kind of kill a lot of momentum. Everyone understands that the bull run, like this round of bull run, has been all about memes, but the space has gotten way too crowded.
Challenges and Opportunities
And in comparison, bitcoin's ecosystem feels a bit fragile because it hasn't embraced the same variety of projects we see on other blockchains. So I think bitcoin really needs to carve out its own space and play to its strength. One potential breakthrough I could think of could be RWA. And there's a lot of untapped potential there. If bitcoin can become a hub for more functional assets beyond just memicoins, I think that's where we can see real sustainable growth. And as for marketing campaigns, we recently just listed our token BN. You can find it on Kucoin or gate. And after our TGE, we introduced what we call the Flash Pool, which allows holders to stick their BN token and TNA names to earn rewards.
Future Collaborations
For our first flash pool, we put one hundred k us dollar worth of sets as rewards. And going forward, we plan to collaborate with some of our ecosystem partners to engage communities on both sides. So call out to all the speakers today. Your projects all seem very interesting, and I don't think we've spoken directly before this discussion, so if you are interested in working on something like that together, feel free to reach me in Telegram. We can talk more details.
Technical Issues and Clarifications
Now we have. Could you please share some other insight about this question? Hello, host? Maybe there is some problem with your connection. Really? Can anyone hear me? Okay, okay, so. Eman. Hey. Hi. Did you hear? No, I didn't hear anything. Sorry. Okay. I mean the last question is about how do you view the potential breakthrough for the bitcoin ecosystem? And are there any marketing campaigns that you guys gonna launch in the recent future? Would you mind share some of it?
Iman's Insights
Sure, sure, definitely. Thanks for the question. So the potential breakthrough for bitcoin ecosystem include layer two, scaling for faster and also cheaper transactions, there is less fees and also having a hybrid or dynamic smart contracts which will enable Defi and also some other cross chain or interoperability. So likewise, TNS speaker said yes, RWA will be very focused, Rwanda will be very focused in this upcoming years as well. And yes, for the NFT markets also. It is happening very good. It's gonna happen more in upcoming months as well. And so finalizing the bitcoins utility and adoption will be improved in these sections as well.
Updates from Trove Labs
So coming to the trovelabs update, we will be launching our testnet soon. This month we have completed internal testing and alpha testing as well. We have achieved a great TPS soon we will be announcing publicly. Thank you so much. Well, I think Alan should really fix the connection issue of x or we gonna like every time x twitter space will be like this. Okay, thanks for the sharing and everyone please follow onto Labs Twitter and see their recent updates.
Jojo's Views
Okay, now we got Jojo. And could you share some of the insights on this question? Yeah, sure. So as builders in the bitcoin system, we see like several breakthrough directions, especially the growing role of bitcoin, their two solutions. So the area of our focus, expanding the defi space. So we're exchanging lending, staking and liquidity provisions will become more stimulus as their chill technology goes up. So from our side, micro is contributing to this growth by enhancing liquidity through advanced EMM models and offering secure low cost transformation transactions there.
Community Engagement and Future Plans
And we also provide a wide range of incentives for users, including second rewards, liquidity farming. And though our new model is doing the development status, we believe it will foster the community engagement and deeper liquidity pools once it launched. And as I mentioned before at the beginning, we also recently launched our telegram board, which aligns with market trends by focusing on convenience and accessibility. And for sure, we will also continuously develop it to bring more and more functions and reverse opportunities for our users.
Marketing Campaigns and Ecosystem Support
And looking ahead, we also have several marketing campaigns in our pipeline. So these include trading competitions and other like third party giveaways. And as well as the bridging and trading festival and continued development of our category and any other types of events are welcomed. So we also continue to support projects with the bitlayer ecosystem and our goal is to make the biggest coin layer two ecosystem like more accessible but rewarding user engagement. Yeah, that's it.
Final Remarks and Connections
Thanks. Well, cool. Please everyone visit the Micron's website to join the trade to earn points campaign and also search Micron on Telegram to check their boat. I guess it must be really interesting and promising both in the telegram and we can also join that campaign. Cara, are you there? Would you mind sharing some of your views about the breakthrough for the bitcoin ecosystem and also about the recent marketing campaign for oath? Yes host, and for this question I would like to answer the second part for the marketing campaign.
Website Upgrade and Upcoming Events
Recently we have upgraded our website where you can check out the latest update on Wu and including our narratives and milestones and roadmap. And we are also quickly integrating with the most hyper layer tools and we will connect them to create related events. And in addition, we are excited to announce that we will soon launch the air job season two, which will refer to our biggest airdrop event ever. And for that event, we are planning to distribute 10 million coupons, which is 3% of our total token supply.
Official Announcement and Closing
And please stay tuned for our official announcement on Twitter and in discord. That's it. Thank you. Sorry, host cannot hear you. Okay. It is final. Okay. All right, I'm gonna start it over again. Thanks everyone for joining tonight's Twitter space and turn the 10 million airdrop must be really. Oh, Iman, I saw you raising your hand. Any extra comments or.
Wrap Up and Future Engagements
Yes, thanks. Thanks for the opportunity. And also thanks for the other speakers and panelists. So Travel Labs is attending Singapore token 29 event. If any of the projects or users would see travel labs, please meet our team and you can know more about Trove Labs. Thank you. Sure. I guess for us going to join token 2049 as well. So I guess we're going to meet each other there. And thanks for all of your sharing speakers, and thanks for our 395 people who have been joining tonight's Ma.
Closing Gratitude
Thanks for all of your support. If you have any extra questions, please leave it on the comment and our speakers can answer it. Okay, thank you guys. Let's create. Good night everyone. Thank you. Thank you guys. Thank you all. Have a great. See you guys.
