Author: @pStakeFinance
Compiled by: Bai Hua Blockchain
"BTCfi is not just about making Bit better and bringing returns. You can see it as an upgrade, essentially the 2.0 version of Bit." ——@eli5_defi
Welcome to the 11th episode of our "X Talks Bit" series, where Bit enthusiasts and builders share their valuable insights 🤝. Today, we have invited @eli5_defi (a skilled explainer of complex crypto concepts) to share his straightforward views on the BTCfi narrative, and why we need Bit Stake.
1. Can you explain what BTCfi is in a simple and easy-to-understand way?
"BTCfi is a completely newparadigm to enhance the productivity of Bit as an asset."
2. What is Bit Stake? If the Bit network already exists, why do we still need it?
@eli5_defi explains: "I used to think the Bit network was inaccessible, like it was isolated in an ivory tower. This idea stemmed from its design and high emphasis on security, which might make it seem exclusive.
However, its intention is to be open to everyone. This openness means its security should not only serve itself, but also be used by other blockchains, which is the reason for Bit Stake's existence. Its goal is to share the security of the Bit network, allowing Bit users and other systems to grow together.
This is a win-win solution that brings positive results to the blockchain ecosystem."
The emergence of BTCfi not only redefines the functionality of Bit, but also opens up a new path for collaboration in the blockchain ecosystem.
3. How do you view the BTCfi narrative and the current Bit ecosystem?
"I think BTCfi is not just about making Bit work better or bringing returns. Its goal is to unleash the full potential of Bit as the first cryptocurrency.You can see it as an upgrade, essentially the 2.0 version of Bit. Currently, the Bit ecosystem is mainly focused on building infrastructure, which is indeed very important. However, I hope to see more consumer-oriented, easy-to-use projects that can clearly better utilize Bit."
The Bit ecosystem and the BTCfi narrative seem to still be in the early stages.
4. Which BTCfi projects are you excited about?
"I really appreciate @pStakeFinance, as they have strategically pivoted to BTCfi, fully recognizing its immense potential, and have applied their expertise in Stake protocol development very well. Another project worth watching is @SolvProtocol, which provides a liquid Bit Stake solution, employing various strategies to generate yields. Additionally, @CryptoEternalAI is developing a comprehensive AI agent that integrates functionalities leveraging the Bit network. Lastly, @layeredge as the first decentralized network, is expanding Bit's capabilities through ZK and BitVM technology, ensuring the security of all layers of Bit and its Rollups."
Link to the article: https://www.hellobtc.com/kp/du/01/5643.html
Source: https://x.com/pStakeFinance/status/1879968739959230652
