Advertisement
A New Bitcoin-Based Arcade Game Is Leaving a Mark on Gamers
CryptoGraffiti Auctions
– One Graffiti is created every 72 hours
– Anyone can participate in creating the Graffiti
– The Graffiti is auctioned
– The proceeds are shared among the participantsLet’s co-create art & earn together.
Learn more 👇🧵 pic.twitter.com/uDbdy0xCDe
— 3700 | New Bitcoin City (@punk3700) August 1, 2023
Bitcoin’s usage in DeFi applications has so far been limited to tokenized representations of bitcoin on other chains, such as Ethereum or Solana.
The introduction of “Bitcoin Request for Comment” (BRC-20) standards earlier this year has allowed developers to issue tokens and build DeFi applications on Bitcoin. This has spurred the development of digital artwork and meme coins built on Bitcoin in recent months.
@punk3700 previously built Trustless Market, a Uniswap fork on Bitcoin, amid the Ordinals protocol hype to jumpstart BRC-20 token activity on the blockchain. Shortly after launch, the protocol racked up daily volumes of $500,000, attracted over 2,000 users, and let liquidity providers earn a 2% cut on all swaps conducted on the network.
As such, New Bitcoin City developers say using blockchains keeps games and wins fair – unlike opaque online games which may tamper their mechanism behind the scenes and make it difficult for a player to amass big earnings.
Meanwhile, to combat Bitcoin’s infamous slow transactional speeds, New Bitcoin City developers built NOS, a layer 2 network, using an Ethereum Virtual Machine (EVM) on top of Bitcoin – allowing for smart contract functionality, similar to Ethereum, and faster speeds. EVMs are the software environment in which all Ethereum accounts and smart contracts work.
Recommended for you:
- Etihad Airways ‘Horizon Club’ Web3 Loyalty Program Will Let You Stake NFTs for Miles
- How DeFi Protocols Are Building More Granular and Extensible Capabilities
- U.S. SEC Sues Richard Heart, Hex, PulseChain on Unregistered Securities, Fraud Allegations
Such developments are what the likes of @punk3700 say takes the ecosystem forward. “It’s best when we can combine the best of both worlds, i.e. Ethereum and Bitcoin, together, rather than pitch Ethereum versus Bitcoin,” he stated.
