Stacks2.0 Chinese Online Conference: How can Bitcoin holders effectively utilize their value? Listen to what professional investors say

According to BlockBeats, at the "Goodbye Blockstack, Hello Stacks 2.0" live broadcast held on January 21, Muneeb Ali, CEO of Hiro, the founding team of Stacks2.0, introduced the new features of Stacks2.0. Stacks2.0 allows developers to build smart contracts on the Bitcoin blockchain and develop different types of Dapps.

How can Bitcoin holders effectively utilize the value of Bitcoin?

In the roundtable session on the theme of "The investment value of native Bitcoin that has not yet been unlocked", Fenbushi Capital partner Rem, HashKey investment manager Rui and Spartan Group Melody participated in the discussion. On the issue of different performances of the Eastern and Western markets in this round of bull market, Fenbushi Capital partner Rem and HashKey investment manager Rui said that Bitcoin is actually borderless and there is no such thing as an Eastern and Western bull market.

However, Rui said that the interaction between the chain and the outside chain is still divided by boundaries , and different regions still have different infrastructures, which will have a certain impact on the market situation. For example, Grayscale and Coinbase in the United States are legal institutions that are directly regulated, which will have certain benefits for users to directly buy cryptocurrencies. For such institutional market conditions, the core point is that it has a stable withdrawal channel, which may be Grayscale in the United States.

Melody said that many foreign family funds and large companies are currently paying attention to and buying Bitcoin, while Asian or domestic investors are relatively cautious. Some overseas family investors prefer to store the coins directly in cold wallets after purchase.

When it comes to the question of how Bitcoin holders can use their Bitcoin more effectively, Rui is more inclined to encourage users to hold Bitcoin. He believes that holding Bitcoin itself is a bonus.

Rem said that large institutions outside the industry have been slowly entering the market in the past two years. Because they did not understand cryptocurrencies before, they mostly held them, even though the returns from holding them were higher than the existing investment strategies of most companies. Since Ethereum led the DeFi craze last year, many teams have begun to launch new solutions to empower ecological applications with Bitcoin.

Stack 2.0 is also moving in this direction. Based on Bitcoin, some contract functions are added. Block Stack makes Bitcoin in hand no longer just digital gold, but can be used to run different smart contracts. "So why are we optimistic about the ecosystem in Block Stack: first, the whole world has recognized Bitcoin and believes that Bitcoin is the most stable, experienced and secure blockchain network; second, anyone who adds a smart contract layer to Bitcoin will drive the value of Bitcoin and make the value of Bitcoin have more ways to operate." Rem commented.

Melody said in response to this question: "Bitcoin has now become a point of recognition and entry for everyone to enter digital assets and technologies. So what do people look at after they have Bitcoin? Most people may look at Ethereum, and many Western institutions may learn about other digital assets after they have Bitcoin." In the past month or two, everyone has changed their previous state of development and started to cooperate with each other. Therefore, the launch of Stack2.0 at this time is a very good node. Melody said that she is personally looking forward to seeing many new ecological developments on Bitcoin, such as lending, staking, etc. Stack2.0 provides a good application scenario for Bitcoin.

Is it necessary to build an ecosystem on Bitcoin?

Then Zhang Shuhao, editor-in-chief of BlockBeats, discussed the second roundtable topic: "What will Stacks 2.0 bring?". Pan Zhixiong, chief researcher of Chain News, Tony, researcher of TouDengCang, and Yao Xiang, author of "Smart Wallet Trends", expressed their views.

Pan Zhixiong believes that although the Bitcoin route is more stable than other cryptocurrencies, its essence is still a financial application. From the perspective of Bitcoin's maximum beneficiaries, any financial application based on Bitcoin is meaningful. From an encryption perspective, everyone trusts the security of Bitcoin. The entire encryption ecosystem is like a sandbox, and any innovation should be encouraged.

Yao Xiang also said that this problem is self-evident. Now the Ethereum ecosystem is already huge and prosperous. The Bitcoin ecosystem is actually not dead, but also very vibrant. This can be seen from several aspects. First, the iteration of Bitcoin itself, how to make the network more secure, improve efficiency and protect a certain degree of privacy, the recent progress is very great. The second layer is that Bitcoin is gradually being assetized, such as ERCBTC. In this process, how to safely custody Bitcoin, there is no perfect solution to this problem. The third layer goes a step further and makes some asset protocols based on Bitcoin, including lightning networks. The fourth layer is whether it is possible to make a smart contract platform based on Bitcoin. This is a very challenging thing. The industry is looking forward to the birth of this type of product. The importance of building an ecosystem on Bitcoin is self-evident, and it is actually very challenging to build a smart contract platform on it.

“As a cryptocurrency with the largest market value, it is feasible to build an ecosystem on Bitcoin’s chain,” Tony said. “The current challenge should be to attract and guide developers.”

What are the important development directions of Web3 in 2021?

At the third roundtable of the online meeting, Ankr co-founder Ryan Fang, HashQuark CMO Dora and Diling Technology Gavin discussed "co-building, sharing and co-prospering Web 3 ecosystem".

Ryan Fang said that Bitcoin is definitely the biggest cryptocurrency ecosystem. This year's bull market has also attracted many new people to join. Dapps on Bitcoin still have a lot of room for development. For new users, Bitcoin is their first choice, so products in its ecosystem are more likely to attract them.

Gavin pointed out that all major public chains have made some major progress this year. In addition to Stack, Ethereum's zero-knowledge proof direction and transaction fee optimization are the focus of major teams this year. In addition, the NFT market will also make some moves , such as the Flow blockchain launched by Dapper Lab, the development team of the mystery chain cat.

The Clarity language developed by Stack will also be a major development direction . The Clarity language can predict the status of an account after a transaction is made. This kind of prediction method and behavior is a very important development direction in Web3.0.

PoS is also a very important point of Stack2.0. Stack's account system and private key are completely consistent with Bitcoin, which allows the two chains to interact smoothly. PoS is the first Bitcoin product based on Bitcoin and natively supported by Stack2.0. The PoS consensus is also written on the Bitcoin blockchain based on Clarity. The security brought by Clarity may also attract many traditional investors.

Dora from HashQuark mentioned that the composability between blockchains is very important . She cited the currently very popular NBA Top Shot as an example, which is a very popular blockchain product. She said that if we want to attract more users to the blockchain ecosystem, then there are high requirements for the security of the blockchain. DeFi on Ethereum is already booming. If one day Flow and Ethereum's DeFi want to be combined, then they cannot be completely isolated. In addition, she mentioned that the competition between Polkadot and Ethereum this year is also one of the focuses of attention .