Rich Rines, an initial contributor to Core DAO, makes a strong case for BRC-20 and building utility on the Bitcoin blockchain as an extension of Satoshi’s vision and an alternative pathway for miners in the future.
With 2024 now here, Cointelegraph’s Hashing It Out podcast is focusing on narratives that are tipped to be at the heart of the cryptocurrency conversation this year.
In episode 45, Rich Rines, an initial contributor to Core DAO — a layer-1 blockchain network that can accommodate Ethereum Virtual Machine-compatible decentralized applications on top of Bitcoin’s governance — explains how BRC-20 tokens and the movement to build utility and financial applications on top of the Bitcoin network (BTCFi) could take off in 2024.
Rines explains why there is a place for BRC-20 in the Bitcoin ecosystem despite ideological debates and technical criticisms. He also describes how BRC-20 and BTCFi can build a sustainable economic environment on Bitcoin with lessons from decentralized finance (DeFi) implementations on Ethereum and other layer-1 networks.
