With the rise in blockchain technology, we see many new use cases taking place on blockchain technology, etc. Proof-of-stake, Defi, NFTs, Digital assets, Dapps, etc and wonder if theres a possibility for all these new use cases to take place ontop of Bitcoin Protocol?
Ultimately, Bitcoin protocol is the most secured and most high profile PoW network in the industry, thus if its possible to build extensions to Bitcoin protocol, and allow hodlers and bitcoiners to:
- Stake and earn btc (which further democratize the space, where you no longer need specialized equipment and lots of $ to mine btc)
- Have smart contract capabilities ontop of Bitcoin protocol e.g. Clarity. (which allows for development of more comprehensive dapps to be based on Bitcoin protocol)
- NFTs / Digitization of real world assets ontop of Bitcoin protocol
Personally deep dived on the above topic and shared my thoughts here: https://ethan-tan.com/a-beginners-guide-to-proof-of-transfer/
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