joew.btc Δ

Searching for Web 3.0

[Red 🍰 @redvelvetzip]

Ordinal Theory was the catalyst for Bitcoin's community growth over the past 1.5 years

tokens aside, miner behavior has changed in several ways

more revenue
bigger blocks
out-of-band block building
alternative revenue sources

[Jacob Brown @JakeBlockchain]

Im on the ban list now. le sigh.

[Finish 🏁 @0xFinish]

BRC-20 is not narrative — it is THE narrative!

$BTC halving is next week but many focus only on BRC-20.

I spend months researching the $BTC Ecosystem to find real alpha.

ULTIMATE list of $BTC DeFi gems that will skyrocket 100x after halving 🧵

[Doggfather @DoggfatherCrew]

Runes Ecosystem Map (Version 2.0)

I'm just highlighting the additions

You find the accounts of the other projects in the version 1.0 post below

Bookmark this post & share it with your frens!

🔸(Pre-runes) Tokens
--> Sorted by total sales volume on @MEonBTC:
NodeApes (@thenodeapes)
PNGS (@pngs_xyz)
Nothing Protocol (@nothingprtcl)
OrdinalSigmaX (@OrdinalSigmaX)
RunesAsFuck (@RunesAsFuck)
TerraBits (@TerraBit_nas)

--> not yet listed/not fully minted out, but added because of their potential importance
Runes Terminal (@runes_terminal)
WZRDS (@WZRDSbtc)
Opal Bitcoin (@OpalBTC)

I know that there are many more projects out there!

But to keep the map digestible, I applied a minimum total sales volume filter

I marked some projects with a yellow font color on the map: you find more details about these projects on the @runes_legacy website

🔸Launch-/Mintpads
There are more and more services popping up

Ordinals OGs like...
OrdinalsBot (@ordinalsbot)

... and new ones including
xBTCBot AI (@xBTCBot_AI)
Magic Runes (@Magic_Runes)
RuneForge (@runeforgehq)
Runetoshi Nakamoto (@runetoshi_)

🔸Marketplaces/DEX
I had to drop one project because I received red flags from several community members

These are the new ones:
Saturn (@Saturn_btc)
Rune Pro (@Rune_Pro)

🔸Data/Tooling/DeFi
These are the additions:
NinjaAlerts (@ninjalerts)
SatScreener (@SatScreener)
Rune Flex (@rune_flex)
RunesMarketCap (@RunesMarketCap)
Rune Alpha (@runealpha_btc)

[joew.btc Δ @joewbtc]

@ordinalsbot @edenblockvc @NuralCapital @WW_Ventures @ltngventures @BTCFrontierFund @OakGroveVC @UTXOmgmt @KeneticCapital @cmsholdings @kestrel0x1 @soraventures Go OrdinalsBot!!

[Red 🍰 @redvelvetzip]

Read the full report here for free
https://t.co/3YK8PxeGSR

[Red 🍰 @redvelvetzip]

Understanding Core Chain: A Comprehensive Overview

Core Chain is a Bitcoin layer for programmability and scaling. It's defined by four key architectural decisions
-Satoshi Plus consensus
-EVM
-Core DAO governance
-coreBTC

[David Seroy 🏔️ @david_seroy]

#Bitcoin: Don’t trust, ZK_verify

This is an amazing blog post by #Gmax where he claims #Bitcoin will have fully expressive smart contracts, not by adding turing complete programming to the base layer, but by performing them off-chain and _verifying_ them on-chain.

Put another way, he foresaw #Bitcoin would become a bulletin board for ZK proofs. Instead of making thousands of nodes waste resources with redudant execution of meaningless smart contract code (like Ethereum does), the smart contracts would be executed off-chain, then a singular compressed proof of validity would be posted onto the L1 to be verified. That proof is far, far more scalable and easy for nodes to verify than making everyone’s nodes actually run a bunch of random crap thousands of times redundantly. If this sounds similar to ZK Rollups, it pretty much is.

I also found the part where he discusses putting up a bond then mounting a challenge/response game is basically #BitVM.

https://t.co/wSDew4QF6a

[David Seroy 🏔️ @david_seroy]

#Bitcoin Rollups: Whiteboard Session.

There is a lot of confusion about #ZK #Rollups on Bitcoin. So I mapped out in detail how it works (afaict) under the hood.

tl;dr we can use ZKP's (the scaling kind, not the privacy kind) to create an end game scaling solution for #Bitcoin. For now, BitVM enables trust minimized version of ZK Rollups (which is still really dang good). True, fully trustless roll-ups would require a soft-fork.

[Bitcoin Layers @BitcoinLayers]

Many people have been trying to determine what is, and what isn’t, a #Bitcoin L2.

Today, we’re releasing our initial framework on how we will define and analyze risk for Bitcoin scaling protocols.

[Bob Bodily, PhD @BobBodily]

BRC-20 2.0: Is it enough to compete with Runes?

🎢 Buckle up. It's going to be a wild one.

There is a new programmability module coming for BRC-20. This new programmability module will allow you to do all kinds of arbitrary compute with your BRC-20 tokens. This upgrade is significant enough that I am calling it BRC-20 2.0.

💥 tl;dr - BRC-20 2.0 in a nutshell

1. Inscribe EVM smart contracts to Bitcoin.

2. Upgrade indexers to be able to run EVM smart contract code (simple EVM integration).

3. Include an inscription ID with your BRC-20 txns indicating which smart contract + function you want to interact with.

4. The indexer pulls in the relevant smart contract code, pulls the inputs (your BRC-20 txn), and then runs the inputs through the relevant code, updating BRC-20 state accordingly.

5. You're done. Pretty simple.

‼️ Important caveats

1. EVM was chosen because of its massive network effects, but it could have been any virtual machine and any smart contract language (and could still be if we wanted to eventually support it in BRC-20).

2. This is not a separate chain. This is not a sidechain. This is not a blockchain. This is not an L2. This is just allowing the existing BRC-20 indexers to do more (compute EVM smart contract code on BRC-20 balances).

3. You actually don't add any additional trust assumptions in adding this programmability module. You still have centralized indexers. You rely on them for accurate balances. You leverage Ordinals to store EVM smart contracts. This is just a programmability upgrade for BRC-20.

4. You never have to upgrade BRC-20 again. This is a one-and-done upgrade to enable everything you've ever wanted with BRC-20, which is extremely appealing.

🤪 Crazy ideas made possible by BRC-20 2.0

1. Using a virtual balance deposit (no need to inscribe a transfer) into one of these EVM smart contracts, you can easily bridge (or lockup) BRC-20 tokens into an EVM smart contract. You could even bridge all of your token balances at the same time (provided virtual balance transfers are allowed with this programmability module).

2. #1 then enables all kinds of interesting DeFi primitives: AMMs, aggregated order books (combined listings at similar prices), liquidity pools, lending, etc, all directly on Bitcoin L1 with BRC-20.

3. Similar to #1, you could even start to batch transactions together across users (almost like a sovereign rollup). In this case, you get 20x cost reduction for transactions, you don't bloat the UTXO set anymore, and you don't have to use JSON (as you get more efficient compressed transactions that actually get put on chain).

✅All of your critiques for BRC-20 are solved by BRC-20 2.0

1. There are ways to no longer bloat the UTXO set.

2. You use JSON to go to the txn batch service, but it uses more optimized encoding to store on chain, so not wasteful of bytes anymore.

3. You can't complain about upgrades because programmability module solves all future upgrade concerns.

🤷‍♂️ What else is there?

BRC-20 2.0 has a chance at being the flexible, programmable fungible token standard we all desire.

[OrdinalsBot ⚡ @ordinalsbot]

TRIO will power the OrdinalsBot ecosystem. △
Want a chance to win more $TRIO airdrop claims? 👀

Liking & RT-ing this post might unlock “TRIO DASH”
You won’t want to miss this
(Previous winners also eligible)
Turn on notifications🔔

[flor.btc @flormpecasique]

🫶

[TO @TO]

Casey @rodarmor the creator of Bitcoins Ordinals just dropped some major alpha about Runes

Here's the main points for the non-developers👇

1. The release of ord 0.17.0 today includes the FINAL implementation of Runes. This means Runes are part of the Ordinals protocol and its decentralization will benefit from how easy it will be for all the people running the Ordinals protocol to also run Runes.

2. The genesis (first) Rune is hardcoded and called Uncommon Goods or UNCOMMON•GOODS. You can find the details about this in the github. So it appears Casey is not hardcoding the first 10 Runes but only the first. If this is true, Rune 1 to 1,000 will likely be etched by one of the major BTC mining companies (e.g. F2Pool, Marathon, Foundry, etc.)

The genesis Runes token UNCOMMON•GOODS is an open mint starting on the halving block and ending (4 years later) at the next halving. This token is not divisible (no decimals) and each free mint/claim allows you to get 1 token.

3. Rune token mints can have a starting block and ending block, either as a specific number (e.g. start at block 1,000,000 and end at 2M) or as a relative number (e.g. start 500 blocks after the Rune token is deployed and end 5,000 blocks after).

4. Rune token mints can be supply capped. e.g. max supply of (pick a number). If a token has both a supply cap and ending block, whichever happens first will end the mint.

5. "The Ordinals protocol has been downgraded from beta to alpha, because of all of this Runes nonsense" -Casey

This was a big release, congrats to Casey!

[Casey @rodarmor]

ord 0.17.0, which includes the final implementation of runes, has been released!

It includes the hard-coded genesis rune, UNCOMMON•GOODS.

🧵

https://t.co/bMYCZKHdOe

[cryptodhanda.csr @Crypto_dhanda]

Why @globalnodeo is such a unique collector in NFT ecosystem & will be known for ages
For a unique NFT experience (https://t.co/LUzj6GwVY1) by @satoshibles team, had a burn NFT to create a special mint & @globalnodeo went ballistic to create one of most unique ..contd

[joew.btc Δ @joewbtc]

Just picked up this from secondary to add to my collection. Excellent art by @rodritoh89

[Rodro ⌐◨-◨ @rodritoh89]

"REKT PEPE"

Limited Edition open for 2 days.
Max claim per wallet is 5

Price : 0.0169 ETH

Hope you like it!

https://t.co/OjSFPuLDou

@rektguyNFT @DarkfarmsFrens @NounsDAOAmigos @nounsdao
#pepe #rektguy #smowl #nouns

[BowTiedBull.eth - Read Pinned or NGMI @BowTiedBull]

All the most successful companies were spawned during bear markets

Amazon took off in 2001, google finally got traction early 2000s

In 2008-2010 or so it was: Apple iPhone, Uber and Airbnb (throw bitcoin in here too)

The best time to double down on yourself is a recession

[joew.btc Δ @joewbtc]

Required quiz for anyone who has an NFT 😂

[SASHA CHUDO @ChudoSasshha]

@AllenKessler C'mon dudes this is simple math 🤷🏻‍♀️ #NFTCommunity

[TO @TO]

1/ Stacks hyperchains are going live on testnet imminently

This will allow Solana-like speeds for apps on top of @Stacks and #Bitcoin

Hyperchains + DLCs + [secret project]

Are the three core-tech final bosses in the Bitcoin coup of Web3

Want to know more? You got it

👇🧵