The Bitcoin Season 2 has kicked off with a bang, as new projects and protocols are making waves in the industry. From Mezo’s $21 million fundraising round to Alpen Labs’ $10.6 million bankroll, the Bitcoin ecosystem is buzzing with excitement. The launch of the L2O Consortium by blockchain designers, including Starkware, aims to set standards for trustless applications and Layer 2s.
However, amidst the hype and excitement, questions arise about the legitimacy and practicality of these new protocols. Many of them are still in the early stages, with no clear product or decentralized model in place. The rise of proof-of-stake variants and new token contraptions has led to concerns about the speculative nature of the market.
The recent controversy surrounding Taproot Wizards and BitVM has also highlighted the amateurish nature of some projects in the space. While the wizards’ arguments have gained attention, the response from BitVM has been less than gracious, leading to a missed opportunity for constructive dialogue.
Despite the drama, the show must go on, with the highly anticipated Runes protocol set to debut just in time for the halving. As the industry continues to evolve and innovate, it remains to be seen which projects will stand the test of time and which will fade into obscurity.
