Bitcoin Virtual Machine, SatoshiVM, Spiderchain and BitVM are among those that recently emerged with the aim of expanding the functionality of Bitcoin.
Bitcoin (BTC) can only “stand a chance” at mass adoption if it opens up to the $57 billion world of decentralized finance (DeFi), according to developers of Bitcoin layer-2 networks.
While Bitcoin holds the role of a currency, a “digital gold,” and, more recently, a platform to host digital artifacts (Bitcoin Ordinals), developers tell Cointelegraph that there are many more impactful use cases for the blockchain yet to be realized.
“Restricting developers to solely P2P payments stifles creative exploration and potentially excludes valuable use cases,” said the pseudonymous founder of Bitcoin Virtual Machine (BVM) known as “punk3700.”
