The emergence of Ordinals on the Bitcoin blockchain signaled the return of a “creator culture” to the network, according to Ethereum co-founder Vitalik Buterin.
Data: Twitter.
He expressed this opinion in a conversation with Eric Wall and Udi Wertheimer, well-known supporters of the first cryptocurrency. The topic of conversation was “What can bitcoiners learn from Ethereum?”.
The launch of the protocol for digital artifacts and the BRC-20 token standard, Buterin called the rejection of the “stagnation” policy in the bitcoin ecosystem.
“The Ordinals are starting to bring back the culture of doing things. It seems that there is an effective rebuff to the movement of “laser eyes”, which is good,” he said.
Regarding the scalability issue, Wall noted that the Lightning Network is not the solution here. According to him, the network often fails when processing “even mid-sized payments.”
Buterin suggested that the best approach would be to focus on implementing different kinds of second layer solutions, as well as looking for ways to improve the efficiency of the Bitcoin base layer.
“I think focusing on rollups is a good thing, so I am open to ZK-snark based scaling solutions,” he added.
Wertheimer acknowledged that the introduction of rollups could lead to interesting side effects, such as the appearance of an execution environment and the ability to create smart contracts.
Bitcoin orthodox supporters criticize attempts to extend functionality on top of the blockchain of the first cryptocurrency, including NFTs or smart contracts. In their opinion, various innovations dilute the intended main function – to serve as a P2P payment network. Some, like Jan3 CEO Samson Moe, feel that Ordinals is wasting block space.
Wall pointed to a similar position and remarked in response that Bitcoin could serve as a confirmation system for zero-knowledge proofs (ZKP) that would not overwhelm the network.
“My point is that we’ve always wanted to do things related to DeFi, but for the bitcoin base layer to just act as a kind of judge or arbiter of these calculations, and not do them on the blockchain,” Wall said.
Recall that the Swiss project ZeroSync Association is developing tools for scaling the network of the first cryptocurrency based on ZKP.
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