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The Community of Bitcoin Has Been Divided in Half by Ordinals NFTs

CJ - Cryptocurrency Enthusiast

The introduction of Ordinals NFT has divided the Bitcoin community, but a new layer-2 solution is seeking to bring unity to the network as it faces new horizons.

Bitcoin has emerged as a leading contender for a global currency, with a market capitalization, liquidity pool and infrastructure that are unrivalled. Its long-term benefits have made it a staple in the portfolios of industry giants and some small nation-states, regardless of market conditions. The DeFi space is eager to tap into Bitcoin's liquidity pool, but the lack of native compatibility with other blockchains has made it difficult.

Several projects have tried to work around this issue, but most rely on token bridges that are too vulnerable to serve as a gateway to Bitcoin liquidity. As DeFi struggles to find a solution to this problem, Bitcoin holders want their Bitcoin investment to reach their full potential without adding vulnerabilities or relying on a centralized third party. Using the base layer of the Bitcoin blockchain for anything other than P2P fund transfers has triggered mixed reactions from the Bitcoin community.

Despite these concerns, some users have published contracts with Bitcoin script and even created non-fungible tokens and retro computer games using the Ordinals protocol. However, not all Bitcoin OGs are on board with using the blockchain in this way. They argue that the base layer is not optimized for anything other than P2P fund transfers.

A potential solution that addresses the Bitcoin community's concerns about blockchain congestion without introducing new vulnerabilities or relying on third-party custody is needed. Mintlayer, a layer-2 solution rooted in the established network of the Bitcoin blockchain, aims to provide a credible answer for all parties.

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