UniSat Founder Talks About Bitcoin Ecosystem Innovation and Future Outlook

Every halving of Bitcoin brings survival pressure to miners, and those with high costs may face the risk of shutting down and exiting the network. Although it may cause fluctuations in hash rate in the short term, the long-term growth trend of the Bitcoin network's hash rate will not change, as this reflects Bitcoin gaining more recognition.

Ordinals provide miners with a new source of income. Users mint digital collectibles on the blockchain, and a portion of the value flows to the miners. If Ordinals scales up, it could become one of the stable income channels for miners, helping to alleviate the halving pressure. Overall, Ordinals offer miners the opportunity to cope with pressure and gain new income, which is beneficial for enriching Bitcoin application scenarios and maintaining the vitality of miners in the ecosystem.

BRC20 adopts a simple and elegant design, without overly complex mechanisms. This simple and stable protocol has strong vitality. However, BRC20 is still a relatively closed system, making it difficult for new developers to innovate without system support.

To address this issue, a certain team is exploring the modular design of BRC20, hoping to gradually transform it from a closed system to an open system that supports more innovative applications. Currently, there are teams collaborating with this team to explore the modular direction.

BRC20 is suitable for cross-chain operations. It is loosely coupled with the Bitcoin infrastructure, and this flexibility provides the possibility for cross-chain value creation. Future explorations in the direction of modularization are expected to create an open cross-chain application architecture, supporting the development of a richer Bitcoin application ecosystem.

Regarding the congestion issue of the BTC mainnet, a certain wallet platform has recognized its severity and is exploring technical solutions from multiple aspects. In the newly developed Swap product, a rollup technology solution has been adopted. Rollup can batch process user transactions and write them to the main chain, significantly reducing the total number of transactions that the mainnet needs to handle and alleviating congestion. Compared to directly writing to the main chain, Rollup transactions exert less load pressure on the mainnet, preventing a large number of Ordinals transactions from congesting the Bitcoin mainnet.

The platform is also exploring other more radical technological solutions to further enhance scalability and gradually address the congestion issues that blockchain applications may face.

In terms of product planning, the platform is developing and planning the following products:

1. Indexer( Indexer): Provides indexing functionality for BRC20, now in use.

2. Swap: A decentralized trading protocol that supports trading between Ordinals assets. This protocol will be fully open-source in the future and will adopt a relatively conservative Rollup solution to reduce congestion on the mainnet by processing bundled transactions.

3. Mobile App: A mobile application that improves user experience and is interoperable with the existing Chrome extension wallet.

4. Open Game Framework: Allows users to freely develop blockchain games within the framework.

The platform stated that it will continue to develop more innovative BRC20 applications and collaborate with the community to promote the development of the Ordinals and BRC20 ecosystem.

In terms of community co-construction, the platform plans to strengthen communication with other projects, share resources, understand their ideas, and seek cooperation opportunities. At the same time, they will continue to open up their existing technological accumulation, making it as open-source and shared as possible, allowing more users and developers to participate.

This platform seizes the opportunities brought by the Bitcoin ecosystem, supporting Ordinals and BRC20, underpinned by a simple and elegant protocol design that supports diversified blockchain applications. It co-builds an open and win-win platform with the community, promoting new developments in Bitcoin technology.

Looking to the future, the platform stated that it will continue to be dedicated to the construction of the Bitcoin ecosystem, working together with the broader community to realize more possibilities in the Bitcoin world.