Smart Bitcoin sets off a wave of technological innovation, and BTCDomain leads the future of the industry
At this year's Miami Bitcoin Conference, BTCDomain's founder Jay Lee and his team showcased their technological innovations and led the way at several important events such as Bitcoin Builders Conference 2023, Ordinals 2023, Smart Bitcoin 2023 and Bitcoin 2023. A new trend in the industry. They demonstrated the first smart application based on the Ordinals protocol and zero-knowledge proof - BTCDomain.
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BTCDomain founder Jay Lee talks to Bitcoin Frontier Fund's Fransisco
Jay Lee, as a representative of BTCDomain, showed investors and industry leaders attending the event how to implement smart bitcoin by utilizing zero-knowledge proof as a trusted computing method, and using the Bitcoin mainnet as a trusted data availability layer. coin's vision. Specifically, BTCDomain uses Ordinals technology to engrave all metadata about the domain name, such as "name", "first_owner", "expireDate", "sig" and other information into the Bitcoin chain. Therefore, as long as Bitcoin exists, the Bitcoin domain name can be searched and used forever.
At the same time, in order to solve the possible loss of BTC caused by malicious domain name resolution, BTCDomain explored the introduction of zero-knowledge proof (ZK) technology. BTCDomain open-sources its domain name resolution program, and runs this program every time it provides domain name resolution services, thereby generating domain name resolution results and corresponding ZK proofs. Users only need to verify the ZK proof to confirm that the actually executed parsing program has not been tampered with, which is consistent with the open source version. In this way, users can obtain reliable domain name resolution results without establishing a Bitcoin full node.
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Jay Lee giving the opening speech
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Financial Institutions Panel Site Photos
During the meeting, Jay Lee shared his views on Bitcoin smart applications: "BTCDomain has implemented smart applications on the BTC network, and the entire ecological development is faster than imagined. Most people in the United States know Ordinals, and a small number of people know BRC 20 The emergence of Ordinals is an accident, but it is also because of this accident that Bitcoin intelligence has become the research focus of the times.” At the same time, William Xu, the co-founder of Smart Bitcoin Labs, proposed an ultra-brain theory: “ Bitcoin is like a brain with only 2% developed, and the further development of Bitcoin by Ordinals technology or other technologies, even if it only increases the development level from 2% to 3%, may trigger an explosive growth of Bitcoin applications. "
At the end of the meeting, Smart Bitcoin Labs, as a co-founding member of Ordinals Vision DAO, and Kevin Shao, a senior bitcoin investor, jointly announced the Ordinals Vision DAO initiative declaration.
BTCDomain's innovative technology leads the future development of Bitcoin ecology. They were widely recognized for their stellar performance at the Bitcoin 2023 event. With the rise of smart bitcoins, we can expect more technological innovations and breakthroughs. As a pioneer in the industry, BTCDomain reveals the unlimited potential of smart bitcoins, bringing unprecedented opportunities to the entire ecosystem. The future of Bitcoin is unfolding, and we will continue to closely monitor developments in this compelling space.
