The Organic Return of Builder Culture
Vitalik Buterin, Ethereum co-founder, believes that the arrival of Bitcoin (BTC) Ordinals is a sign of the “organic return of builder culture” to the network. In a July 7 Twitter space, Buterin discussed with Bitcoin proponents Eric Wall and Udi Wertheimer about what Bitcoin developers could learn from Ethereum developers.
Buterin praised Ordinals and the BRC-20 token standard, as it is a sign of the rejection of “stagnant” politics in the Bitcoin ecosystem. He said, “Ordinals are starting to bring back a culture of actually doing things. It feels like there’s real pushback to the laser-eye movement, which is good.”
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Crypto Twitter: The Future of Web 3.0
The conversation, which lasted close to two hours, revolved around scalability. Wall argued that Bitcoin’s Lightning Network is not capable of accommodating future users and fails “frequently” when processing “even medium-sized payments.”
Buterin suggested the best approach would be to focus on implementing various layer-2 solutions in addition to exploring ways to make the Bitcoin base layer more efficient.
Wertheimer highlighted that the introduction of rollups could have an interesting side effect. “If we adopted rollups for Bitcoin, we actually get an execution environment too […] We can do smart contracts,” he said.
The discussion around scalability has become an increasingly popular topic on Crypto Twitter, and the potential of Web 3.0 has been a hot topic of late. With the introduction of rollups, it looks like the future of crypto could be more promising than ever before.
Using Bitcoin as a Proof System
Wall and Wertheimer, the Taproot Wizards behind the Ordinals project, are vocal advocates for increasing the functionality of the Bitcoin network. This has been met with opposition from Bitcoiners who think that Non-Fungible Tokens (NFTs) and smart contracts detract from the original purpose of Bitcoin as a peer-to-peer cash system. Samson Mow, CEO of Jan3, is one such critic, noting that Ordinals take up block space that could otherwise be used for Bitcoin payments.
Wall responded to these criticisms, pointing out that Bitcoin could be used as a “proof system” for zero-knowledge proofs, allowing it to avoid network congestion. This would make it easier to use the best crypto websites, understand web 3.0 explained, and access the top crypto without real time crypto issues. Crypto Twitter and the media network crypto would also benefit from this, as the lucky block crypto and the ACH crypto twitter accounts would be able to access the network without slowdown.
When discussing the idea of DeFi adjacent activities, Wall suggested that Bitcoiners always wanted the base layer of Bitcoin to act as a judge or arbiter of the computations, without having to run them on-chain. This sparked controversy in the crypto community, with Wertheimer criticizing Mow and Adam Beck for disregarding the conversation with Buterin.
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