NOTE launches XT digital currency trading platform

Odaily资深作者

2024-09-20 07:02

This article is about 1137 words, reading the full article takes about 2 minutes

The NOTE protocol is a smart contract protocol based on the Bitcoin layer 1 network. Since its experimental launch in February 2024, it has been running stably on the Bitcoin mainnet for more than half a year.

AI Summary

Expand

NOTE has officially reached a cooperation with XT digital currency trading platform. NOTE will officially launch XT digital currency trading platform on September 26, 2024. XT.COM is a comprehensive trading platform that supports 800+ high-quality currencies and 1000+ trading pairs. It has a rich variety of trading products such as currency trading, leveraged trading, OTC trading, contract trading, and credit card purchase of coins. It provides users with the safest, most efficient and most professional digital asset investment services. Currently, there are more than 7.8 million registered users, more than 1 million monthly active users, and more than 40 million user traffic within the ecosystem.

About NOTE

As a layer 1 smart contract protocol, different from the sidechain/cross-chain layer 2 protocol, NOTE protocol makes full use of Bitcoin's global trust foundation and decentralized characteristics, breaking the limitations of Bitcoin in smart contract development and bringing a new decentralized application infrastructure to developers and enterprises. We look forward to helping BTC reach the top in 2025.

Solving the Bitcoin bottleneck for smart contracts

Although Bitcoin is the most secure and decentralized blockchain in the world, its smart contract functions have long been limited and cannot support complex decentralized applications (DApps) and token ecosystems. The release of the NOTE protocol fills this technical gap and provides secure and scalable smart contract functions on the Bitcoin network by combining on-chain data (DA), off-chain indexers (Indexer) and smart contract verifiers (Satoshi Nakamoto's original BVM/sCrypt development language).

Opening up multi-billion dollar market opportunities

The number of Bitcoin users worldwide has exceeded 100 million, but existing smart contract platforms are mainly concentrated on other blockchain networks. For example, Ethereum has created a huge value influence through applications such as ICO/IEO/DeFi. After Bitcoin has been halved, the consensus competition brought by block rewards has gradually encountered bottlenecks. The NOTE protocol will greatly expand the application scenarios of Bitcoin by providing smart contract support directly on the Bitcoin network. It is expected to open up a new market of tens of billions of dollars for decentralized applications related to smart contracts.

Technological advantages and decentralization drive

NOTE protocol ensures high security and scalability of its smart contracts through Bitcoin's UTXO model. It is completely driven by the Bitcoin developer community, adopts the Free Mint model, and has no VC investment. Currently, it is only discussed and studied within the developer community, and the market value of the protocol is about 5 million US dollars, providing extremely attractive market growth potential.

Rich roadmap and future development

In 2024, the NOTE protocol has completed prototype development and launched the second version of the protocol. According to its development roadmap, a series of innovative upgrades will be launched in the next few months:

September 2024: Bitcoin Action/Blinks protocol supporting P2P transactions
October 2024: Tradeable Alias Public Keys and Email Protocol
November 2024: N 721 NFT Asset Agreement
2025 Q1: Distributed Node Protocol and Stablecoin Node Rewards

The implementation of these routes will further enrich the functionality of the NOTE protocol, provide powerful tools and opportunities for global users and developers, and promote the popularization of decentralized applications. It is also planned to establish a legally protected DAO/foundation organization to promote the development of the protocol globally.

Team and Support

NOTE Protocol was created by Bitcoin developers from Japan and around the world. Currently, developers have created infrastructure projects such as indexers, smart contract development languages and runtime environments, blockchain browsers, data services, as well as multiple DEXs, wallets and various open source projects, focusing on real-world applications RWA, bringing stability and sustainable development to the Bitcoin ecosystem.