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Fifteen years after the birth of Bitcoin, the network is now entering an era of remarkable innovation and change, according to Stacks' co-creator Muneeb Ali.
On this episode of Unchained recorded at the Bitcoin Builders conference, Muneeb explores the complexities and advancements within Bitcoin's Layer 1 and Layer 2. He shares his perspectives on what's fueling innovation in Bitcoin's Layer 1 and discusses the implications of Ordinal Inscriptions amid criticism of it by core developers.
He delves into the various scaling solutions within Bitcoin, highlighting how trust assumptions vary among them, and how BitVM could be a 'game changer'. He goes over the advantages of integrating smart contracts on Bitcoin, and why he considers BTC the only true form of monetary asset.
Show highlights:
- What's driving innovation in Bitcoin’s L1
- How Muneeb feels about Ordinals Inscriptions in Bitcoin, considering the criticism from some core developers
- How, in the recent years, research and development in crypto happened outside of Bitcoin, and how that's changing now, according to Muneeb
- The different types of scaling solutions in Bitcoin and how the trust assumptions differ in each of them
- Why he feels like BitVM is a 'game changer' and what it enables
- What the Nakamoto upgrade is on Stacks
- The advantages of having smart contracts on Bitcoin, according to Muneeb
- Why he says that BTC is the only asset that is money
- The challenges to having privacy in Bitcoin
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