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Stacks’ Muneeb Ali On Why Bitcoin Is Exciting Once Again - Ep. 612
Unchained
Innovation Breeds Demand: The Rise of Bitcoin
Recent years have marked a significant turning point for Bitcoin, driven by innovation and increased activity on the Bitcoin Layer 1. The introduction of Bitcoin NFTs, particularly through ordinals, has garnered immense interest, even surpassing Ethereum in trading volume. This surge indicates a strong demand for Bitcoin block space, leading to rising Bitcoin fees. As these fees escalated, the pain points for using Bitcoin on Layer 1 became apparent, which reignited interest in Bitcoin Layer 2 solutions. The urgency to seek alternatives has spurred the development of various projects focused on enhancing Bitcoin's scalability and functionality, contributing positively to its ecosystem.
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