Bioniq CEO envisages a programmable future for Bitcoin with Ordinals and new protocols

2 weeks ago

In the latest occurrence of the SlateCast, Liam “Akiba” Wright and Nate Whitehill welcomed Bob Bodily, the CEO and co-founder of Bioniq, to sermon the aboriginal of Ordinals, the programmability of Bitcoin, and the imaginable interaction of these developments connected the broader crypto ecosystem.

Bodily, a passionate advocator for the decentralized and permissionless quality of Bitcoin, shared his insights connected the ongoing debates astir Ordinals and the challenges and opportunities they present.

The Runes Craze and Bitcoin’s Narrative

The treatment started with a heavy dive into the Runes craze, a caller improvement that recorded the highest transaction fees connected the Bitcoin network.

Bodily acknowledged the hype surrounding Runes, describing it arsenic a “fungible token protocol connected Bitcoin” that initially sparked inflated expectations, lone to beryllium met with immoderate disillusionment arsenic users grappled with the realities of minting and trading experiences.

Defending Ordinals and Bitcoin’s Permissionless Nature

When confronted with philosophical objections to Ordinals, suggesting they spell against Satoshi’s imaginativeness of Bitcoin arsenic peer-to-peer cash, Bodily stood firmly down the permissionless and censorship-resistant quality of Bitcoin. He argued:

“When you person thing that’s permissionless and censorship-resistant, past who is, I don’t know, who has the close to archer you what you tin oregon can’t bash connected Bitcoin?”

Bodily highlighted the renewed involvement and excitement surrounding Bitcoin, with task superior firms investing, builders returning to the ecosystem, and innovative projects emerging, each fueled by the accrued possibilities enabled by Ordinals.

“We person radical warring to upgrade Bitcoin. We person L2s being built connected Bitcoin and instrumentality each of that involvement and excitement. And it’s conscionable bully for Bitcoin,” Bodily stated.

The Potential for Bitcoin’s Programmability

Addressing the imaginable for Bitcoin to go much programmable, Bodily painted a speculative representation of a aboriginal wherever everything done connected different blockchains finds its mode to Bitcoin. He envisioned a flourishing ecosystem wherever Bitcoin serves arsenic “the world’s astir decentralized database,” enabling lending platforms, NFT marketplaces, DeFi protocols, and more.

“If I had to overgarment a picture, it’s everything that you’ve seen connected Ethereum with similar DeFi Summer, with NFT Summer. We’re already starting to spot that connected Bitcoin,” Bodily remarked.

The Bioniq Ecosystem and Future Plans

Bodily besides touched connected Bioniq’s ecosystem, which was built connected the Internet Computer (ICP) arsenic a Bitcoin sidechain. He highlighted the advantages of this choice, including seamless Bitcoin integration, the quality for astute contracts to clasp and negociate Bitcoin transactions directly, and the imaginable for an L2 Ordinals marketplace with faster transactions and little fees.

Looking ahead, Bodily teased plans for Bioniq, including a launchpad, collateralized lending for Ordinals, and staking games incorporating Ordinals, BRC20, and Runes. These developments purpose to grow Bioniq’s addressable marketplace and, much broadly, thrust adoption for Bitcoin NFTs.

As the speech drew to a close, Bodily’s enthusiasm for the aboriginal of Bitcoin and its imaginable for programmability was palpable. While acknowledging the challenges and risks associated with upgrades and centralization, helium remained optimistic astir the decentralized attack to scaling Bitcoin and the community’s innovative solutions.

With Ordinals and projects similar Bioniq astatine the forefront, the aboriginal of Bitcoin appears to beryllium 1 of accrued utility, programmability, and adoption portion maintaining its halfway principles of decentralization and permissionlessness.

New SlateCast: Expanding #Bitcoin Metaprotocols