We don't need to think a lot about bitcoin. It's already a huge speculative coin and it's being used in almost all of networks as tokens and are interchangeable through bridges. There are works of using bitcoin's network as the mother network for other L2 solutions.
Bitcoin network itself is very rigid on changes, it takes a huge consensus to make changes on it. Even some highly popular patches and improvements are resisted by the community and I don't expect the community to go through any drastic changes to what bitcoin already is. So it would be better to leave bitcoin as it is and build new systems to solve newer problems and create new opportunities.
Topic: What do you think of enabling interoperability for bitcoin? (Read 47 times)
You see, bitcoin lacks interacting with other blockchains and that makes it restrict its full potential like limiting its potential for DeFi and dApp use.
So I am thinking what protocols are there that enable interoperability for Bitcoin? I can see a lot of protocols available here, but recently Teleport DAO has been doing something that took me away to check it. Actually it's serving as a light client bridge that facilitates the connection between one blockchain to another..
And to validate those cross-chain transactions, they use relayers, that transfer users’ on-chain data to the smart contract. But what do those relayers get instead? Their own $TST token, because the whole protocol empowered by the native token. Although it's been in IDO phase, but today it's getting listed on major exchanges like, Bitget, kucoin and others. I am sure that is one of the factors that will make the protocol to grow.
I believe everyone here understands the importance of cross-chain solutions for Bitcoin, what do y'all think?
So I am thinking what protocols are there that enable interoperability for Bitcoin? I can see a lot of protocols available here, but recently Teleport DAO has been doing something that took me away to check it. Actually it's serving as a light client bridge that facilitates the connection between one blockchain to another..
And to validate those cross-chain transactions, they use relayers, that transfer users’ on-chain data to the smart contract. But what do those relayers get instead? Their own $TST token, because the whole protocol empowered by the native token. Although it's been in IDO phase, but today it's getting listed on major exchanges like, Bitget, kucoin and others. I am sure that is one of the factors that will make the protocol to grow.
I believe everyone here understands the importance of cross-chain solutions for Bitcoin, what do y'all think?
This protocol isn't as well known as some other bitcoin protocols, like stack or merlin. In case you didn't know, Merlin has a great TVL and a lot of daily traffic. Compared to others, this system (teleport dao) seems to be missing a lot.
Even though their upcoming TGE is getting a lot of attention, I have real doubts about how well teleport DAO will do once their tokens are released. As they switch to a different system that hasn't released its token yet, the number of users and transactions are likely to drop by a large amount.
The usefulness of Bitcoin could be increased by adding cross-chain options. But it might not need too many of these kinds of protocols. Stacks and Merlin blockchains are enough as bitcoin cross chain solutions.
You see, bitcoin lacks interacting with other blockchains and that makes it restrict its full potential like limiting its potential for DeFi and dApp use.
So I am thinking what protocols are there that enable interoperability for Bitcoin? I can see a lot of protocols available here, but recently Teleport DAO has been doing something that took me away to check it. Actually it's serving as a light client bridge that facilitates the connection between one blockchain to another..
And to validate those cross-chain transactions, they use relayers, that transfer users’ on-chain data to the smart contract. But what do those relayers get instead? Their own $TST token, because the whole protocol empowered by the native token. Although it's been in IDO phase, but today it's getting listed on major exchanges like, Bitget, kucoin and others. I am sure that is one of the factors that will make the protocol to grow.
I believe everyone here understands the importance of cross-chain solutions for Bitcoin, what do y'all think?
So I am thinking what protocols are there that enable interoperability for Bitcoin? I can see a lot of protocols available here, but recently Teleport DAO has been doing something that took me away to check it. Actually it's serving as a light client bridge that facilitates the connection between one blockchain to another..
And to validate those cross-chain transactions, they use relayers, that transfer users’ on-chain data to the smart contract. But what do those relayers get instead? Their own $TST token, because the whole protocol empowered by the native token. Although it's been in IDO phase, but today it's getting listed on major exchanges like, Bitget, kucoin and others. I am sure that is one of the factors that will make the protocol to grow.
I believe everyone here understands the importance of cross-chain solutions for Bitcoin, what do y'all think?
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