The stars do not ask the traveler, and time does not disappoint the earnest. The Bitcoin ecosystem has been quiet for nearly a year. Just as everyone is enjoying takeout and singing songs, the Bitcoin ecosystem has shown signs of activity. #Alkanes @oylwallet @judoflexchop @taggaOyl have emerged like divine soldiers, attracting many eyes to the Bitcoin ecosystem. The leading token #METHANE, which has surged tenfold in a day, invigorates the community, seemingly bringing back the vibrant era of various protocols in the Bitcoin ecosystem in 2023.
This time, Alkanes has fired the first shot in a new round of the Bitcoin "protocol war," officially transitioning the Bitcoin ecosystem from version 1.0 to 2.0. The protocols have moved from token issuance to the DeFi era. The three major narratives of the Bitcoin 2.0 ecosystem: OP_CAT, BRC2.0, and Runes2.0 are all eager to try and have entered the infrastructure phase, marking the beginning of an exciting chapter in the Bitcoin ecosystem.
Below are some upcoming Bitcoin 2.0 protocols and established Bitcoin 1.0 protocols that I have compiled.
Upcoming Bitcoin 2.0 Protocols
BRC2.0
The official upgraded version of BRC-20, led by Best in Slot @bestinslotxyz and supported by domo @domodata, introduces EVM, enabling all #BRC20 tokens to be programmable. This significant upgrade is seen as a lifeline by inscription players, allowing them to participate in inscription DeFi, and many are returning to support BRC2.0. BRC2.0 is now live on Signet, and everyone is eagerly anticipating testing applications and an early launch on the mainnet.
OP_CAT
CAT20
sCrypt @scryptplatform has launched experiments on Fractal Bitcoin @fractalbitcoin, attracting many players from the Bitcoin ecosystem right from the start. #CAT20 @ProtocolCAT is the first protocol based on #OPCAT, and it has successfully completed its experiments and is now live on Signet, preparing to enter the Bitcoin mainnet. The protocol token $OPCAT is performing well, and we look forward to future developments.
CATNIP
Quantum Cats @QuantumCatsXYZ & Taproot Wizards @TaprootWizards founder Udi @udiWertheimer has released a Bitcoin native token protocol based on OP_CAT, aiming to address the poor user experience and liquidity issues of existing token protocols (like BRC-20 and Runes). The focus is on solving liquidity problems, highlighting the importance of liquidity.
The launch date for CATNIP is currently unknown, but it is highly anticipated.
Goldinals
Nubit (Thunder Network) @nubit_org has released what is claimed to be the Qin Shi Huang protocol, aiming to unify inscriptions, runes, alkanes, and other protocols, allowing all Bitcoin assets to be unified on a decentralized indexer, fully operating on-chain. It is currently in the internal testing phase, and invitation codes are generally hard to obtain. Those who have experienced it can share their insights.
Runes2.0
Alkanes
The rising star has introduced smart contracts to Bitcoin L1. The first free mint token #METHANE has surged multiple times in a day, and the community has rapidly grown from nothing to incredibly strong in just a few days, proving that the Bitcoin ecosystem is not neglected but is undergoing a transformation.
Alkanes is the first protocol among the new generation to go live on the mainnet, and its performance indicates that a new wave of flourishing protocols is about to emerge in the Bitcoin ecosystem.
RSM
RSM (Runes State Machine) @RSM_Runes is a programmable Runes solution released by Mikael @MikaelBTC, which can also address liquidity issues in the Bitcoin ecosystem. Released last year, it is now preparing to go live on Signet. Signet is indeed bustling, and together with Alkanes, it is driving the progress of Runes DeFi, which many are looking forward to launching soon.
Established Bitcoin 1.0 Protocols
BRC-20
The token issuance protocol, also the progenitor of protocols, was released by domo @domodata, instantly igniting the Bitcoin ecosystem and providing a paradigm for the subsequent explosion of protocols. Although interest waned later and funds fled, it is still fondly remembered. Now, with the strong return of BRC2.0 after the upgrade, players' enthusiasm has been reignited, and anticipation is high.
Leading token: $ORDI
Highest market cap: $2 billion
Runes
Ordinals founder Casey @rodarmor released an alternative to BRC-20, utilizing Bitcoin's UTXO model and OP_RETURN opcode to design a more efficient and streamlined token issuance mechanism, aiming to enhance performance and reduce network burden. At launch, on-chain gas prices soared to nearly 3000, driving players from both East and West into a frenzy. As a rune player, I hope to see the scene of East and West harmonizing once again.
Leading token: $DOG
Highest market cap: $1 billion
BRC-420
BRC420 @BitmapTech is an open-source protocol based on Bitcoin Ordinals, supporting metaverse and digital asset innovation through recursive inscription technology. Combined with the Layer 2 solution of Merlin Chain, it enhances asset liquidity and cross-chain applications, bringing an efficient metaverse experience to the Bitcoin ecosystem. It is one of the few Bitcoin metaverse concepts that gained immense popularity.
Leading token: Blue Box
Highest market cap: $400 million
Atomicals
Atomicals @atomicalsxyz was highly sought after at launch due to its sophisticated technology, and the one coin one satoshi setting made people believe in its everlasting value. Arthur's release of "AVM" further excited the community, but this was a brief celebration. After "AVM," Arthur disappeared, and the popularity of Atomicals declined. To this day, Atomicals has been labeled "CTO," and I am very much looking forward to its future performance.
Leading token: #ATOMARC
Highest market cap: $300 million+
PIPE
PIPE @PipeBtc is a native token protocol based on Bitcoin, integrating the advantages of RUNES and BRC-20 to solve issues of fair minting and centralization. It supports deployment, minting, and transfer functions, compatible with the Bitcoin UTXO model, ensuring decentralization and security. Many players once went crazy for it, and the FOMO sentiment is still vivid today. I hope to see the beautiful things and the FOMO sentiment showcased once again.
Leading token: $PIPE
Highest market cap: $100 million+
Tap Protocol
Tap @tapprotocol is also an innovative Layer 1 protocol on Bitcoin released by Trac Network @tracbtc. By introducing features similar to smart contracts (Promises), multi-send capabilities, decentralized finance (DeFi/OrdFi), and native token exchanges without cross-chain bridges, it expands the application scenarios of Bitcoin. It was very popular upon release and continues to hold strong in the Bitcoin space, waiting for the right moment to explode again.
Leading token: $TAP
Highest market cap: $30 million+
The new wave pushes the old wave forward, and a new round of "protocol wars" is about to begin. Overall, the difference between new and old protocols is that they all possess programmability. Compared to the old protocols that lean towards token issuance, the new protocols are more advanced in technology and, without exception, address liquidity issues in the Bitcoin ecosystem.
The development path for Alkanes may include: #Gateio @Gateiolist #METHANE, OKX @OKXWalletCN & Unisat @unisat_wallet trading market supporting the Alkanes protocol, OKX @okxchineselist #METHANE, Binance @binancelist #METHANE.
Make Bitcoin Magic Again!!!
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