Turning Bitcoin into a multi-purpose ecosystem could allow it to reach the same level of success as Ethereum — and make it several times more valuable.
The idea of Bitcoin (BTC) drawing ideas from another blockchain may seem absurd. Bitcoin is the one that began it all. It was copied by and served as the inspiration for Litecoin (LTC), Dogecoin (DOGE), Monero (XMR), Ethereum (ETH), to name a few.
But a lot has changed over the last 15 years. While Bitcoin’s dominance has remained constant, the industry has moved past simple “buy and hold” coins whose profitability is reliant on others buying in. Today, there are numerous ways to deploy digital assets to earn yield, generate revenue and simply have fun.
While much of this innovation has emanated from Ethereum and the multi-token, multi-chain landscape it’s spawned, the pendulum is swinging back to Bitcoin. Now equipped with its own layer-2s, native tokens, nonfungible tokens (NFTs) and decentralized finance (DeFi) protocols, Bitcoin has the opportunity to experience explosive growth in active users, total value locked (TVL), and active wallets.
