Merry Christmas! Happy Hanukkah! Happy New Year!
‘Tis the season to be jolly, and whatever holiday you’re celebrating, the time to reflect on the past year is upon us. Finally, after a year of grinding, it’s time to put your feet up, enjoy some time with loved ones, and eat, drink, and be merry!
For the blockchain and digital currency industries, 2023 was a year of separating the wheat from the chaff. While 2022 was a meltdown, this year was one of picking through the pieces of the wreckage and finding anything that might resemble value.
As it happens, some were found, and some interesting developments have occurred. On-chain economies have blossomed on BSV, BTC, Solana, and others. ORDI, the original BRC-20 token on BTC, skyrocketed, sending a clear signal to the market that the old, fraud-riddled, centralized exchanges are no longer necessary or desired. Since then, hundreds of on-chain tokens have been minted across different blockchains, and the on-chain economy is booming. This will likely be a key narrative in 2024.
In terms of technical capabilities, BSV blockchain continued to lead. The original Bitcoin processed a record-break 128 million daily transactions in September, dwarfing all the other blockchains combined. As Teranode edges nearer, days like this will be a regular occurrence, and then they’ll seem small by comparison.
Regarding utility apps, the BSV blockchain saw the next-generation cybersecurity tool Sentinel Node gain traction and the popular trading card game Champions TCG take off. Hodlocker.com pioneered the concept of locking coins, evolving into a sort of social posting application where users could lock coins against posts.
Speaking of locking coins, this has become a true phenomenon on the BSV blockchain in the last few months. After Hodlocker.com, the concept of Lock-to-Mint took off, showing that users don’t need to spend coins to mint tokens; they can lock them up and retrieve them later.
On top of this, sCrypt pioneered new on-chain capabilities regarding limit orders, edging us closer to a full-scale exchange on the BSV blockchain. Soon, the original Bitcoin will be able to do everything centralized exchanges can and then some. Finally, we’ll be able to move into the sort of world Satoshi Nakamoto envisioned.
2024 will be an exciting year with yet more innovation and progress, and many questions will be answered. Will Changpeng-Zhao join Sam Bankman-Fried in prison? Will BTC split again over Ordinals? Will BSV dethrone BTC when the world knows who Satoshi is post COPA v Wright? All of these questions will be answered in the year ahead.
Whatever happens, expect great things for BSV as momentum builds and the world realizes all this on-chain stuff will require a low-fee, scalable proof-of-work blockchain like BSV.
For now, enjoy the holidays, reflect on the hard work behind us in 2023, and rest and refuel for the journey ahead. Happy holidays from everyone at CoinGeek!
Watch: The CoinGeek Conversations Christmas quiz extravaganza!
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