I am Ray.bit, a man passionate about Bitcoin with technical insights, X (Twitter):https://x.com/bitlaser_btc
Starlight does not ask travelers, time rewards the dedicated. After Bitcoin ecosystem's nearly year-long silence, just when everyone was delivering food and singing, the Bitcoin ecosystem suddenly stirred. #Alkanes @oylwallet @judoflexchop @taggaOyl appeared like divine soldiers, attracting widespread attention. A tenfold leader in one day: #METHANE inspiring hearts, seemingly returning to the era of numerous Bitcoin ecosystem protocols flourishing in 2023.
This time, Alkanes fired the first shot in a new round of Bitcoin "protocol war", officially transitioning the Bitcoin ecosystem from version 1.0 to 2.0. Protocols have also moved from Token issuance to the DeFi era. The three narratives of Bitcoin 2.0 ecosystem: OP_CAT, BRC 2.0, and Runes 2.0 are eager to try and have all entered the infrastructure phase, thus opening the curtain on a spectacular Bitcoin ecosystem drama.
Below are some protocols poised to emerge in Bitcoin 2.0 and old protocols from Bitcoin 1.0 that I have compiled.
Bitcoin 2.0 Protocols Awaiting Explosion
BRC 2.0
The official upgrade of BRC-20, led by Best in Slot @bestinslotxyz, supported by domo @domodata. The upgrade introduces EVM, giving all #BRC20 Tokens programmability. This major upgrade is seen as a lifeline by Ordinals players, finally able to participate in Ordinals DeFi, returning to Ordinals and raising the BRC 2.0 flag. BRC 2.0 is now online on Signet, with everyone eagerly anticipating test applications and mainnet launch.
OP_CAT
CAT 20
Released by sCrypt @scryptplatform on Fractal Bitcoin @fractal_bitcoin, attracting many Bitcoin ecosystem players upon launch. #CAT 20 @ProtocolCAT is also the first protocol based on #OP_CAT. Now that the experiment is successful, it has also landed on Signet and is advancing to the Bitcoin mainnet. The protocol Token $OPCAT is performing well, with expectations for future developments.
CATNIP
A Bitcoin native Token protocol based on OP_CAT, released by Quantum Cats @QuantumCatsXYZ & Taproot Wizards @TaprootWizards founder Udi @udiWertheimer. It aims to solve the poor user experience and liquidity issues of existing Token protocols (such as BRC-20 and Runes). Both are addressing liquidity problems, highlighting its importance.
The launch time for CATNIP is currently unknown, but it is highly anticipated.
Goldinals
Released by Nubit (Thunder Network) @nubit_org, claiming to be the Qin Shi Huang protocol. Its goal is to unify Ordinals, Runes, Alkanes, and other protocols, bringing all Bitcoin assets together on a fully on-chain system without a centralized indexer. Currently in closed beta, with invitation codes being hard to obtain. Those who have experienced it are welcome to share their insights.
Runes 2.0
Alkanes
A hot sensation that introduced smart contracts to Bitcoin L1. The first Free Mint Token #METHANE multiplied in value daily, with the community growing from nothing to incredibly strong in just a few days. This validates that the Bitcoin ecosystem is not neglected, but undergoing a transformation.
Alkanes is the first new-generation protocol to launch on the mainnet. Its performance suggests that the Bitcoin ecosystem is about to enter another era of protocol flourishing.
RSM
RSM (Runes State Machine) @RSM_Runes, released by Mikael @MikaelBTC, is a programmable Runes solution that can also solve liquidity issues in the Bitcoin ecosystem. Announced last year, it is now preparing to launch on Signet. Signet is indeed bustling, jointly promoting Runes DeFi with Alkanes, and is eagerly anticipated for mainnet launch.
Bitcoin 1.0 Classic Protocols
BRC-20
A Token issuance protocol and the protocol pioneer, released by domo @domodata. It instantly ignited the Bitcoin ecosystem and provided a paradigm for subsequent protocol explosions. Although its heat later declined and funds fled, it is still fondly remembered. Now, with BRC 2.0 upgrade, it has reignited players' enthusiasm.
Leader: $ORDI
Highest Market Cap: $2 billion
Runes
Released by Ordinals founder Casey @rodarmor, an alternative to #BRC-20, utilizing Bitcoin's UTXO model and OP_RETURN opcode to design a more efficient and concise Token issuance mechanism. The goal is to improve performance and reduce network burden. Upon launch, on-chain gas spiked to nearly 3000, driving both Eastern and Western players crazy. As a Runes player, I hope to see East-West harmony again.
Leader: $DOG
Highest Market Cap: $1 billion
BRC-420
#BRC 420 @BitmapTech is an open-source protocol based on Bitcoin Ordinals, supporting metaverse and digital asset innovation through recursive Ordinals technology. Combined with Merlin Chain's Layer 2 solution, it enhances asset liquidity and cross-chain applications, bringing an efficient metaverse experience to the Bitcoin ecosystem. It is one of the rare Bitcoin metaverse concepts that was once popular.
Leader: Blue Box
Highest Market Cap: $400 million
Atomicals
Atomicals @atomicalsxyz was initially popular due to its sophisticated technology and the "one coin, one Satoshi" concept that made people believe in its perpetual value. Arthur's release of "AVM" further excited the community, but this was a brief celebration. After "AVM", Arthur disappeared, and Atomicals' heat declined. Today, Atomicals has been "CTOed", and I also look forward to its future performance.
Leader: #ATOMARC
Highest Market Cap: Over $300 million
PIPE
PIPE @PipeBtc protocol is a native Token protocol on Bitcoin, combining the advantages of RUNES and BRC-20 to solve fair minting and centralization issues. It supports deployment, minting, and transfer functions, compatible with Bitcoin UTXO model, ensuring decentralization and security. Many players were once crazy about it, with FOMO emotions still vivid. I hope beautiful things will again inspire FOMO emotions.
Leader: $PIPE
Highest Market Cap: Over $100 million
Tap Protocol
Tap @tap_protocol, also released by Trac Network @trac_btc, is an innovative Layer 1 protocol on Bitcoin. By introducing smart contract-like functions (Promises), multi-send capabilities, decentralized finance (DeFi/OrdFi), and native Token exchange without cross-chain bridges, it expands Bitcoin's application scenarios. Widely popular upon release, it continues to hold onto Bitcoin, waiting for the right moment to surge again.
Leader: $TAP
Highest Market Cap: Over $30 million
As the new waves push the old, a new round of "protocol war" is about to begin. Overall, the difference between new and old protocols is programmability. Compared to old protocols focusing on Token issuance, new protocols are more technologically advanced and without exception solve liquidity issues in the Bitcoin ecosystem.
Alkanes' development route might be: #Gateio @Gate_io list #METHANE, OKX @OKXWallet_CN & Unisat @unisat_wallet support Alkanes protocol, OKX @okxchinese list #METHANE, Binance @binance list #METHANE.
Make Bitcoin Magic Again!!!
