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The advent of Bitcoin (
$63,930.00 ) (BTC) Ordinals signals the “organic return of builder culture” to the network, according to Ethereum (
$1,903.42 ) co-founder Vitalik Buterin.
Buterin made the comments in a July 7 Twitter space where he spoke at length with Bitcoin ( $63,930.00 ) proponents Eric Wall and Udi Wertheimer about what Bitcoin ( $63,930.00 ) developers could learn from Ethereum ( $1,903.42 ) devs.
Buterin praised Ordinals and the BRC-20 token standard which he sees as a rejection of “stagnant” politics in the Bitcoin ( $63,930.00 ) ecosystem.
“Ordinals are starting to bring back a culture of actually doing things. It feels like there’s real pushback to the laser-eye movement, which is good,” Buterin said.
OK WE TRY AGAIN! @VitalikButerin https://t.co/RsEag1VAKr
— Udi Wertheimer (@udiWertheimer) July 6, 2023
The nearly two-hour-long conversation centered around the issue of scalability. Wall claimed Bitcoin ( $63,930.00 ) ’s Lightning Network can’t scale for future users and it fails “frequently” when processing “even medium-sized payments.”
In response, Buterin suggested the best approach would be to focus on implementing different types of layer-2 solutions along with looking for ways to make the Bitcoin ( $63,930.00 ) base layer more efficient.
“I think focusing on rollups is good and so is being open to ZK-snark-based scaling solutions.”
Wertheimer believed the introduction of rollups could create an interesting side effect.
“If we adopted rollups for Bitcoin ( $63,930.00 ) , we actually get an execution environment too […] We can do smart contracts,” Wertheimer said.
Wall and Wertheimer — two key figures behind the Ordinals project Taproot Wizards — are outspoken exponents of Ordinals and routinely advocate for building increased functionality on top of the Bitcoin ( $63,930.00 ) network.
Related: Bitcoin ( $63,930.00 ) miners raked $184M in fees in Q2, surpassing all of 2022
Their stance has drawn criticism from more fundamentalist Bitcoin ( $63,930.00 ) ers who claim NFTs and smart contracts on Bitcoin ( $63,930.00 ) dilute its supposed primary function as a peer-to-peer cash network.
Such critics include Jan3 CEO Samson Mow, who believes Ordinals waste block space that could otherwise be dedicated to Bitcoin ( $63,930.00 ) payments.
Wall noted these criticisms and explained that Bitcoin ( $63,930.00 ) could be used as a “proof system” for zero-knowledge proofs which wouldn’t congest the network.
“My perspective is that we [ Bitcoin ( $63,930.00 ) ers] always wanted to do DeFi adjacent things but we just wanted the Bitcoin ( $63,930.00 ) base layer to just act as sort of a judge or an arbiter of that computation and not have to run the computation on-chain,” Wall said.
“We shouldn’t necessarily just be thinking about second layers as a way to make payments, but I think we could also think about them [as a way of doing] expressive things.”
The discussion yielded fresh controversy in the Bitcoin ( $63,930.00 ) community, with Wertheimer slamming Mow and Blockstream CEO Adam Beck for being dismissive of the conversation with Buterin.
These 2 laser-eye clowns have been running blockstream into the ground for the last decade
In 10 years that company couldn’t come up with a single successful product
Their joke of a blockchain processes 3 txs a day
And they think they have nothing to learn from ethereum pic.twitter.com/mp7we9Lvxq
— Udi Wertheimer (@udiWertheimer) July 6, 2023
Magazine: Ordinals turned Bitcoin ( $63,930.00 ) into a worse version of Ethereum ( $1,903.42 ) : Can we fix it?
