Building on Bitcoin

Darren RoganThe Chief

Monday the 30th of May's Gold Coast Blockchain Meetup was a great evening, it was really nice to see some new faces and get awesome questions, thanks Gordon Christian for your talk and discussion.

Gordon as our special guest, captivated the audience with his en-'lightening' talk on the Building on Bitcoin. The event was a success, filled with interactive discussions, thought-provoking questions, and stimulating conversations. 💡🗣️

🔹 Ordinals: Gordon took us on an exciting journey into the world of ordinals and their impact on reshaping our understanding of Bitcoin. The concept of digital art inscribed on Bitcoin assets sparked new possibilities and provoked a reevaluation of what can be achieved within the Bitcoin blockspace.

🔹 BRC-20: The discussion on BRC-20, a nascent token standard built on Bitcoin, highlighted its evolving nature and experimental status. The unique UTXO model for managing tokens has some interesting quirks for tokenisation within the Bitcoin ecosystem.

🔹 Lighting Network: Exploring the Lighting Network, attendees gained valuable insights into the scalability and efficiency solutions it offers for Bitcoin transactions. The bitcoin layer transaction processing are generally too long for real world use cases, where lighting enables fast payments for everyday usability.

🔹 Stacks Layer 2: Gordon's exploration of Stacks Layer 2 shed light on how this technology is enhancing the capabilities of Bitcoin. The possibilities for smart contracts and the clarity language for its smart contracts.

In addition to these topics, Gordon also discussed significant upgrades to the Bitcoin protocol, namely SegWit and Taproot. These upgrades have had a profound impact on the Bitcoin ecosystem, improving transaction efficiency, and enabling inscriptions and more. Attendees were intrigued by the potential implications of SegWit and Taproot in enhancing Bitcoin's functionality and potentially expanding its use cases.

It was encouraging to witness such a passionate community coming together to learn and share ideas. I would like to extend my gratitude to Gordon and Electra for gracing us with his presence and sharing their wealth of passion and knowledge. Lastly, a big thank you to all the attendees.

Next meetup will be on the last Monday of July 2023 where we will be discussing 'Money, Privacy and Monero' (with an external speaker). There will be no June meetup but in June we do have Blockchain Australia's Blockchain Week in Brisbane, I may see you there.