Recent movements in the Bitcoin ecosystem have been extraordinary. We're hearing new Bitcoin ecosystem-related news almost daily. Just organizing the news that occurred this year alone yields the following:
[BTCFi]
- @SuiNetwork partnered with major BTCFi projects and introduced @Stacks' sBTC to their ecosystem.
- @Tether_to onboarded to the Lightning Network.
- @fragmetric launched fragBTC, expanding BTCFi into the Solana DeFi ecosystem.
- @SolvProtocol launched institutional-grade RWA products utilizing Blackrock BUIDL and Hamilton Land SCOPE.
[Bitcoin Core]
- The data size limit for the OP_RETURN, which allows arbitrary data to be stored in Bitcoin transactions, has been removed.
[BTC L2]
- @BitlayerLabs successfully executed a BitVM bridge challenge game on the Bitcoin mainnet.
- The BitVM Alliance announced BitVM3, which improves SNARK verification efficiency by approximately 1000x.
[zkVM]
- @RiscZero was integrated into Bitcoin ZK rollup @citrea_xyz.
- @SuccinctLabs introduced zkVM to Bitcoin ecosystem projects like @babylonlabs_io and @nubit_org through SP1.
As shown, the Bitcoin ecosystem has been expanding at a very rapid pace since the first half of this year, and numerous additional Bitcoin Layer 2 chains and BTCFi projects are expected to emerge in the short term.
Anticipating a rapid information gap, I've written this article to provide the comprehensive overview of the Bitcoin ecosystem's development process and current trends. I hope this article will help with understanding the Bitcoin ecosystem going forward!
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