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> In the end, a lot of the blockchain infrastructure relies on bitcoin hence it moves in sync. Does it, though? I’m on the sidelines, but it seems like all the
by paulgb 5y ago
> In the end, a lot of the blockchain infrastructure relies on bitcoin hence it moves in sync.
Does it, though? I’m on the sidelines, but it seems like all the excitement/money flowing into crypto these days is into blockchains with higher transaction throughput and more advanced smart contract interpreters. I know there are some maxis trying to build things like DeFi and NFTs on Bitcoin but it seems to have really taken a backseat in the latest crypto hype cycle.
- leesalminen 5y ago> DeFi and NFTs on Bitcoin There are DeFi and NFT platforms on Bitcoin? I haven’t heard of those. Are you talking about Ethereum?
- ur-whale 5y agoThere are some efforts underway to bring ETH-like smart contracts to BTC, which - if they succeed - will allow all the ETH-powered paraphernalia to happen on top of BTC. But the going is slow. Other than that, there already are some "NFT's" embedded in the Bitcoin blockchain. To give you an example of what I mean, consider the Genesis block, which, while its reward can't be spent still has a private key attached to it. I'm willing to bet that the day the person who owns that key (Satoshi, assuming he's still alive) decides to put it up for auction, the bids won't be zero :)
- jsemrau 5y agoStacks is an example for such services on Bitcoin
- chillacy 5y agoAs of this past week though, the price action is all in BTC reaching its ATH again of 60k+. Financial news is all about inflation, so I assume it's related buyers liking the fixed supply of BTC.