Bitcoin Season 2 Reveals New Spring/Summer Collection
Bitcoin Season 2 recently unveiled part of its Spring/Summer collection, which includes launches and fundraising for Bitcoin-related projects. Mezo, an economic layer of Bitcoin, emerged with $21 million in funding, while Alpen Labs secured $10.6 million for Bitcoin-native zero-knowledge infrastructure. The L2O consortium was also founded by blockchain designers, including Starkware, to standardize trustless applications and layer-2 protocols.
Uncertainty Behind New Announcements
However, the actual utility and engineering behind these shiny announcements are uncertain, reflecting the opinion that it is more akin to performance art than legitimate technology. Questions are raised about true innovation and trust models, with many protocols appearing to lack significant decentralization or operational products at launch time. The space has also seen a trend toward proof-of-stake models and yield-generating token schemes, which some critics like as a form of crypto nihilism or fad.
Controversy over BitVM
Controversy erupted when Taproot Wizards questioned the integrity of a renowned Layer 2 project, BitVM, leading to a heated debate and the appearance of unprofessionalism on both sides. Despite disagreements, the BitVM scandal has inadvertently increased its visibility and brought about a missed opportunity for advocacy by its proponents.
Suspense about new token protocol: Runes
Amidst all this, excitement is building for the release of a new fungible token protocol called Runes, which coincides with Bitcoin's halving event and is attracting significant attention and participation from the community.