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What makes Bitcoin increasingly attractive as an ecosystem foundation?
No single point of failure.
No foundation controlling development.
No visible creator still steering the ship.
These aren't bugs: they're features that strengthen Bitcoin's long-term stability and resilience.
No single point of failure.
No foundation controlling development.
No visible creator still steering the ship.
These aren't bugs: they're features that strengthen Bitcoin's long-term stability and resilience.
What made Bitcoin revolutionary?
It wasn't the invention of entirely new components, but their synthesis.
Analyzing the original white paper critically, only the longest chain protocol stands as genuinely novel.
This mechanism solved the Byzantine Generals Problem through an elegant "arrow of time" created by proof-of-work.
Every other component represented existing technology: Proof of Work (Hashcash, 1997), Digital Signatures (dating to Diffie-Hellman), Hash Chains (including Merkle Trees), P2P Networks, and Game Theory incentives.
The history of technology shows that breakthroughs rarely come from inventing completely new components.
Instead, they emerge from novel combinations of existing elements.
Satoshi's approach demonstrates a profound insight: true innovation often lies in synthesis rather than individual invention.
Interestingly, Nakamoto's paper includes remarkably few citations.
This isn't because Bitcoin emerged from nothing, but because it wasn't written as a traditional academic publication. The paper's origins weren't in specialized research but in practical problem-solving, drawing from multiple disciplines.
It wasn't the invention of entirely new components, but their synthesis.
Analyzing the original white paper critically, only the longest chain protocol stands as genuinely novel.
This mechanism solved the Byzantine Generals Problem through an elegant "arrow of time" created by proof-of-work.
Every other component represented existing technology: Proof of Work (Hashcash, 1997), Digital Signatures (dating to Diffie-Hellman), Hash Chains (including Merkle Trees), P2P Networks, and Game Theory incentives.
The history of technology shows that breakthroughs rarely come from inventing completely new components.
Instead, they emerge from novel combinations of existing elements.
Satoshi's approach demonstrates a profound insight: true innovation often lies in synthesis rather than individual invention.
Interestingly, Nakamoto's paper includes remarkably few citations.
This isn't because Bitcoin emerged from nothing, but because it wasn't written as a traditional academic publication. The paper's origins weren't in specialized research but in practical problem-solving, drawing from multiple disciplines.
Bitcoin staking update: ~50,000 BTC staked on the Babylon protocol, representing approximately 0.25% of the relevant total.
More than 30,000 BTC is securing the Babylon Genesis chain, while the rest remains in transition.
This significant portion of Bitcoin is now productive rather than idle.
More than 30,000 BTC is securing the Babylon Genesis chain, while the rest remains in transition.
This significant portion of Bitcoin is now productive rather than idle.
50,000 BTC
That’s just 0.24% of Bitcoin's market cap staked, and Babylon Genesis already ranks among the top 10 PoS chains by security.
This demonstrates the untapped potential of Bitcoin's massive security budget to strengthen the entire blockchain ecosystem while preserving Bitcoin's fundamental properties.
That’s just 0.24% of Bitcoin's market cap staked, and Babylon Genesis already ranks among the top 10 PoS chains by security.
This demonstrates the untapped potential of Bitcoin's massive security budget to strengthen the entire blockchain ecosystem while preserving Bitcoin's fundamental properties.
Bitcoin covenants serve different needs in staking vs bridges.
For staking in Babylon, covenants ensure slashing goes to a burn address, not back to validators.
For BitVM bridges, covenants prevent committee members from stealing funds, an arguably even more important purpose than in staking.
OP_CTV addresses both use cases while eliminating trusted committees.
For staking in Babylon, covenants ensure slashing goes to a burn address, not back to validators.
For BitVM bridges, covenants prevent committee members from stealing funds, an arguably even more important purpose than in staking.
OP_CTV addresses both use cases while eliminating trusted committees.
Does Bitcoin's evolution mirror other foundational technologies?
First discovered, then stored as value, and now ready to be productively used.
Babylon Genesis represents this crucial third phase, enabling Bitcoin's $1.6T capital to secure the broader ecosystem while maintaining Bitcoin's core security principles.
First discovered, then stored as value, and now ready to be productively used.
Babylon Genesis represents this crucial third phase, enabling Bitcoin's $1.6T capital to secure the broader ecosystem while maintaining Bitcoin's core security principles.
What is OP_CTV?
It's Bitcoin's missing covenant capability, in my opinion.
In simple terms, covenants allow you to restrict where Bitcoin can be spent after it's received.
Today, signatures only control who can spend Bitcoin.
With OP_CTV, you could specify "this Bitcoin can only be sent to address X" or "only to a burn address if slashing occurs."
This seemingly small addition enables entirely new applications while preserving Bitcoin's security model: from trustless staking to vaults to bridges.
It's Bitcoin's missing covenant capability, in my opinion.
In simple terms, covenants allow you to restrict where Bitcoin can be spent after it's received.
Today, signatures only control who can spend Bitcoin.
With OP_CTV, you could specify "this Bitcoin can only be sent to address X" or "only to a burn address if slashing occurs."
This seemingly small addition enables entirely new applications while preserving Bitcoin's security model: from trustless staking to vaults to bridges.
.@JeremyRubin has been advocating for Bitcoin covenants through OP_CTV for a while.
This isn't just another upgrade: it's fundamental infrastructure change for Bitcoin's future.
This isn't just another upgrade: it's fundamental infrastructure change for Bitcoin's future.
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