Build on Bitcoin: The ultimate Bitcoin playground

2024/06/19 18:01

Building on Bitcoin is a platform that expands the overall functionality and utility of the Bitcoin network. Currently, the Bitcoin network lack the infrastructure to process million of daily transactions efficiently. Bitcoin also does not have the same capabilities as Ethereal regarding deploying smart contracts and creating applications. Therefore, programs like this are pushing towards a future where bitcoin can adopt programmability and thrive as a productive asset on-chain.

By implementing bitcoin layers, developers can access never before seen scalability and functionality, significantly expanding the user cases for Bitcoin, creating a fundamental platform for all Web3 users.

Why build on Bitcoin

Leveraging on the security and stability Bitcoin has been infamous for, this platform would provide the optimal place for users who would like to engage in a more complex economic activity while having Bitcoin as a final settlement layer.

Why invest in bitcoin?

Decentralisation - Bitcoin’s decentralisation nature reduces the risk of censorship and central authority control, ensuring more resilient and democratic applications. Bitcoin has over 15,000 active nodes, with its global mining infrastructure growing to over 95 countries. This is almost three time larger than Ethereum’s active node network.

Stability - Over the years, Bitcoin has continuously proven its durability and resilience, with 999.98% uptime and zero interruption in nearly a decade. This number is even higher than those of tech giants such as Amazon, Google and Facebook.

Security - Bitcoin’s security has stood the test of time. With its 256-bit SHA hash functions to protect its proof-of-work system and transaction verification process. These hash functions have ensured Bitcoin’s immutability of every preceding block.

So what is built on Bitcoin?

Bitcoin layers unlock the full potential for a vast, booming crypto ecosystem. Some of the use cases that Bitcoin users can access with the introduction of layers and smart contracts include:

Bitcoin Defi

Bitcoin NFTs

Bitcoin Daos

Bitcoin tokenised assets

The future of Bitcoin

With so many developments in recent years, Bitcoin adoption is growing faster than ever.

Without centralisation, Web3 applications must be built on blockchains that offer the best security and trust, and Bitcoin happens to be the most trustworthy option at the moment.

Bitcoin was the original breakthrough in enabling trust through a protocol rather than a central entity. Since then, it has withstood the test of time and proven that it is still the most secure, decentralised and economically powerful blockchain out there.Thus Bitcoin is the best on-chain final settlement for building high-value applications.

Thus platforms such as Build on Bitcoin play an important role in bridging the gap between expectation and reality by being an application that could enhance Bitcoin networking.

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