Https & Colon; & Sol; & Sol; x & period; Com & Sol; Guerillav2
In a recent announcement, Best in Slot, the infrastructure company that feeds some of the most popular applications and Bitcoin wallets such as Xverse and Liquidium, has revealed that the BRC-20s are getting an update.
Nicknamed BRC2.0, should go live on Bitcoin Testnet in the first quarter of 2025, with the aim of bringing “intelligent contracts” to BRC-20S, allowing them to compete with the Bitcoin Sidechain projects.
In short, the “BRC20 programmable module” is designed to “unlock new cases of infinite use for native resources on Bitcoin, including DIFI without continuity, RWAS, DAOS, Stablecoins and more – without relying on Multisig or L2 bridges. “
After many years in space, we can all agree that we have already heard promises like this first. However, metprotocols have a distinctive advantage: they are completely on chain, rather than relying on chains completely separate with new hypotheses of trust. Of course, metprotocols may not be the best approach to decentralize the token economy on Bitcoin, but they are a beginning.
The runes suffered from extraordinarily high expectations before their launch, and this is an opportunity for the BRC to return. Regardless of your position on the tokens on Bitcoin, the competition between different standards will eventually bring greater efficiency and reduce the swelling of the chain, something we can all agree.
The real question is this: for the regular bitcoiners that use Bitcoin exclusively as a monetary network, should we really contact? Congestion on chain, useless pump and dump patterns, stars taxes …
My answer is: absolutely!
The mempool has been “dead” for the best part of the last six months.
First of all, as a bitcoiner, we should support free markets. Having further paid users is literally the best possible result for Bitcoin’s survival. The miners have just crossed another halving and maintain mining profitable is the only way to prevent centralization in the hands of subsidized actors (both governments and financial markets, yes, the miners who emit unlimited loans to buy machines will not last forever) .
For the context, according to COINDESK, the Validators of Solana have undergone a record influx of over 100,000 SOL, for a value of almost $ 25.8 million, in taxes and suggestions due to the intense commercial activity of Trump and Melania token activities.
Secondly, Pandora’s box has already been opened. Bitcoin tokens are here to stay. If users want further programmability, who has the authority to stop it? (Apart from the Thinkbois in favor of censorship, of course.)
As Bitcoin’s ecosystem evolves, the introduction of the BRC-20 update presents a convincing case for the reason why the Standard Token Runes could eclipse. Here are several reasons why:
- The primary charm of BRC2.0 lies in its promise to improve efficiency. With the intelligent contractual functionality, the BRC-2.0 tokens could manage complex operations directly on the bitcoin blockchain, potentially reducing the need for additional levels or sideachains. This could lead to more compact transactions, reducing the swelling in the chain, the problems have been criticized due to their initial clamor and subsequent congestion. This efficiency could be a turning point for Bitcoin’s scalability, offering a simplified approach to tokenization without altering the safety or decentralization of the main protocol.
- BRC2.0 is designed to integrate with the existing bitcoin infrastructure. Thanks to collaborations with artists of the caliber of the Layer 1 Foundation, it could improve the user’s experience and interoperability. Unlike the runes, which had to face challenges in the adoption of users due to complex minion and bad ux processes, BRC2.0 aims to provide a more user-friendly interface for creation and token interaction. This could lead to wider acceptance and use, making Bitcoin a more attractive platform for developers and users.
My default position on something new relating to Bitcoin is always caution. We will have to wait for the real details of this new protocol to be disclosed, but I am enthusiastic about the perspective of cases of use more efficient Defi on bitcoin, not on minor chains.
If you are still skeptical, I leave you with this question: if the tokens on Bitcoin are inevitable, what’s worse?
- MetapoCols that use the space of Bitcoin blocks in exchange for commissions, without changing the rules of the network?
- Or the bitcoiners that affect their bitcoins earned hard to centralized chains and competitors to access the same token markets?
Like Bitcoin Maxi, I want all commissions. I want all users. Bitcoin Maxis should be the Maxis of the entrances of the commissions, provided that the main ethics of the underlying network remains unchanged (looking Feline Goingyyyers).
My TL; Dr:
- Wait and see what BRC2.0 has to offer. Will it become truly programmable in a fairly safe way for the bitcoiners to trust?
- Runes can become irrelevant if BRCS print a real return, especially with better UX.
- Let the miners rejoice in degen taxes.
- Bitcoin tokens without changing the rules are better than Bitcoin tokens that require new operational codes or altered rules.
- Grateful for all Gigabrain developers who build Bitcoin apps instead of vaporware chains.
This article is a Take. The opinions expressed are entirely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Articles I write can discuss topics or companies that are part of my company’s investment portfolio (Utxo management). The opinions expressed are only mine and do not represent the opinions of my employer or his affiliates. I do not receive any financial compensation for these filming. Readers should not consider this content as a financial advice or approval of a particular company or investment. Always do your searches before making financial decisions.