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Bitcoin Devcon closing day highlights: Salute to the innovators in the Bitcoin field.

Bitcoin Devcon closing day highlights: Salute to the innovators in the Bitcoin field.

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ChaincatcherChaincatcher2024/05/09 12:37
By:作者:Techub News

These activities not only fully demonstrate the vitality and innovation of the Bitcoin ecosystem but also bring together the wisdom and power of global Bitcoin elites, jointly contributing ideas and strategies for the future development trends of Bitcoin.

Author: Techub News

 

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On May 8th, the Bitcoin Devcon conference concluded successfully, bringing together global Bitcoin elites to discuss the future of Bitcoin. After a day of intense discussions and exchanges, the agenda for the second day was even more exciting, with guest keynote speeches, high-profile roundtable forums, and showcases of innovative ecosystem projects, all showcasing the vitality and innovation of the Bitcoin ecosystem.

The Bitcoin Devcon conference was organized by UTXO Management, co-organized by Satoshi Lab, and strongly supported by Yakihonne and Web3port, with full coverage provided by Techub News. The conference attracted numerous developers, engineers, researchers, designers, artists, and investors in the Bitcoin field, who collectively brainstormed the future development trends of Bitcoin and injected new vitality into the global Bitcoin ecosystem.

It is worth mentioning that the choice of venue for this conference not only recognizes the crucial role Hong Kong played in the early development of Bitcoin but also symbolizes our firm determination to move forward from the historical starting point of Bitcoin activities towards the future. Here, global Bitcoin enthusiasts witnessed the growth and expansion of the Bitcoin ecosystem, eagerly anticipating a bright future for Bitcoin.

This article will present the highlights of the day's exciting speeches in text form, taking you through the wisdom and insights of developers, founders, and renowned institutions from around the world. Let us look forward to the future of the Bitcoin ecosystem together, expecting more innovation and breakthroughs.

HKSTP Senior Business Manager Isaac Tse's keynote speech "Hong Kong Science Park - Your Ideal Launch Platform"

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Isaac Tse, Senior Business Manager of HKSTP, delivered a brilliant speech today at the Hong Kong Science Park, showcasing the park's unique charm and immense potential as a center for technological innovation. Despite Hong Kong traditionally being seen as a financial and trading hub, under government impetus, the Hong Kong Science Park has transformed into a cradle for technological innovation, attracting a large number of tech companies to settle in and creating a vibrant tech ecosystem.

As the management and operation organization of the park, HKSTP collaborates closely with the government to support the growth of enterprises. From incubating startups to expanding the global business of mature enterprises, HKSTP, together with numerous partners, has built a comprehensive and in-depth tech ecosystem.

Tse emphasized their goal of establishing Hong Kong as an international hub for technological innovation. Guided by this goal, the Hong Kong Science Park has brought together over 1007 tech companies, which are thriving within the park, collectively scripting a new chapter in Hong Kong's tech innovation.

BSquare's Asia-Pacific Market Leader Arwen's keynote speech "Introducing Bitcoin DA Layer and Expanding the Ecosystem"

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In his keynote speech "Introducing Bitcoin DA Layer and Expanding the Ecosystem," BSquare's Asia-Pacific Market Leader Arwen delved into new development directions for the Bitcoin ecosystem. Arwen first pointed out the main difference between Bitcoin and Ethereum, namely the limitations of Bitcoin in executing smart contracts. To address this limitation, they introduced the DA layer (Data Availability Layer), enabling more decentralized finance (DFS) projects such as dfinance, social finance, and gaming to survive and collectively expand within the Bitcoin ecosystem.

Arwen stated that their goal is to build a versatile Bitcoin layer to expand the Bitcoin ecosystem and provide Bitcoin DA layer support for more zk roll-ups and op roll-ups in the market. They aim to achieve this goal through four key aspects: fast, cheap, and secure transactions, easy access for individual users, collaboration with account abstraction solution providers like Particle Network, and providing developers with rich tools and resources.

Lorenzo Protocol CEO Matt's keynote speech "The Importance of Building a Bitcoin Liquidity DeFi Ecosystem"

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Lorenzo Protocol's CEO Matt emphasized the importance of building a Bitcoin liquidity DeFi ecosystem in his speech. With the expansion of the Bitcoin ecosystem and the prosperity of Altos, the demand for BDC liquidity continues to rise. To meet this demand, they are creating an efficient market to facilitate supply-demand matching. Matt pointed out that while these projects consume liquidity, idle BDC also needs to be fully utilized. Therefore, Lorenzo Protocol is dedicated to creating a market platform for BDC holders to find quality projects and increase liquidity value. To avoid users losing liquidity due to collateral, they pursue a DeFi ecosystem that balances flexibility and opportunities. This ecosystem aims to promote mutually beneficial cooperation between Bitcoin holders and project parties, driving the prosperity and development of the entire ecosystem.

Roundtable Discussion on the theme "Nurturing Bitcoin Ecosystem: Challenges, Opportunities, and Future Prospects"

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At today's roundtable discussion, several industry leaders gathered to delve into in-depth discussions on nurturing the challenges, opportunities, and future prospects of the Bitcoin ecosystem. Participants included Jakub, Global Marketing Director of Bihelix; Yves La Rose, Founder of exSat; Justin, Founder of Zeus Network; Aisling Connolly, Senior Research Scientist at ICP DFINITY Foundation; and Ken Liao, Founder and CEO of Xverse.

They unanimously agreed that the development of the Bitcoin ecosystem faces multiple challenges such as technical bottlenecks, market acceptance, and regulation. However, they also see tremendous opportunities arising from technological innovation, market potential, and policy support. Looking towards the future, participants are optimistic, believing that the Bitcoin ecosystem is poised to continue growing and become a crucial pillar of the digital economy.

During the discussion, guests shared their experiences and insights, proposing suggestions such as strengthening technological research and development, enhancing market education, and optimizing regulatory environments to drive the healthy development of the Bitcoin ecosystem. They also emphasized the importance of collaboration, stating that only through cooperation can win-win situations be achieved, jointly promoting the prosperity of the Bitcoin ecosystem.

The atmosphere of the entire meeting was enthusiastic, with guests delivering insightful and inspiring speeches, providing valuable reflections and insights to participants. Finally, the host summarized the guests' speeches and thanked everyone for their participation and support. This roundtable discussion not only deepened participants' understanding of the Bitcoin ecosystem but also provided valuable suggestions and directions for the future development of Bitcoin.

Ord.io Co-founder Leonidas's keynote speech "Bitcoin is an Innovation"

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Ord.io's Co-founder Leonidas delivered a speech titled "Bitcoin is an Innovation." Leonidas stated that since October 2008, when a photographer using the pseudonym Satoshi Nakamoto released a white paper describing a decentralized network called Bitcoin, Bitcoin has become a crucial innovation. He believes that people need to focus on harnessing the energy brought by this innovation.

Leonidas emphasized that although many interesting applications and experiments have emerged on other cryptocurrencies, people should not merely replicate this code. Instead, like Satoshi Nakamoto, they should create something entirely new from fundamental principles. Through the example of Satoshi Nakamoto creating Bitcoin, he demonstrated how starting from scratch and utilizing the basic idea of immutable tokens can create a more robust digital asset.

Leonidas's speech was full of insights and inspirations, encouraging people to, like Satoshi Nakamoto, create new things from fundamental principles, rather than just replicating existing technologies and applications.

Bel2 Founder Han Feng's keynote speech "BeL2 - Your Money, Your Bank"

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Bel2 Founder Han Feng's keynote speech "BeL2 - Your Money, Your Bank" delved into the concept, challenges, and future prospects of Bitcoin. Han Feng emphasized the importance of Bitcoin as a decentralized currency, believing that the core idea of Bitcoin is to reclaim the issuance right from governments and central banks, allowing ordinary people to participate in the currency issuance process. He mentioned that Bitcoin, as a decentralized currency, provides a new way for people to manage their wealth and transactions, breaking the traditional banking model.

The emergence of Bitcoin has given people the freedom to control their assets and currency, which is the greatest freedom. At the same time, it criticizes those who attempt to centralize and expand Bitcoin, believing that it is a betrayal of Bitcoin's original doctrine. Han Feng further pointed out that the biggest challenge facing Bitcoin is the problem of good money being driven out by bad money. Although Bitcoin is the most powerful currency, its liquidity is the worst because people holding Bitcoin are unwilling to sell. He believes that to improve Bitcoin's liquidity, this profound contradiction needs to be addressed. He suggests drawing lessons from the historical relationship between gold and the US dollar, treating Bitcoin as a consensus wealth, and enhancing its liquidity by issuing stablecoins. Finally, Han Feng calls on everyone to adhere to the original doctrine of Bitcoin, not accepting any extensions to Bitcoin's credit and functionality. Only in this way can Bitcoin truly become people's money and people's bank. His speech was full of passion and conviction, winning enthusiastic applause from the audience. Conflux co-founder and Chief Technology Officer Wu Ming delivered a keynote speech titled "Achieving Ultimate Security, Efficiency, and Customizability through the BTC Ecosystem." Wu Ming delved into the challenges of the BTC ecosystem in terms of security, efficiency, and customizability. He emphasized the balance between security and performance in blockchain development, noting that historical projects often sacrifice security in pursuit of performance. Wu Ming proposed a vision for the future BTC ecosystem to achieve both ultimate security and high performance, analyzing the relationship between different consensus mechanisms, market value, and security. Through the example of Ethereum Layer 2 extensions, he demonstrated ways to achieve high security and scalability, emphasizing the importance of Layer 3 and customizability. Finally, Wu Ming discussed why Bitcoin needs Layer 2 and highlighted the challenges and possibilities facing BTC Layer 2 in the future. Wu Ming stated, "I hope that the future BTC ecosystem can strike a balance between security and performance. Conflux's focus is on building decentralized, secure cross-chain asset mechanisms and expanding customizable virtual machine execution environments to promote ecosystem development and cross-ecosystem interaction." Zeus Network founder Justin delivered a speech on "Zeus Network Solana as Bitcoin's L2." He outlined the concept of using Solana as a second-layer network (L2) for Bitcoin. He criticized some projects for treating Bitcoin merely as "gas" rather than truly leveraging its value and potential. Justin emphasized that true blockchain innovation should focus on facilitating C2C and C2B transactions and promoting interaction with project parties, Libert, and DIY application development. He chose Solana as Bitcoin's L2 because of its high performance, low cost, and strong support from users and developers. Justin introduced how Zeus Network connects Solana to the Bitcoin mainnet through slot versions, forming a 1.5-layer solution to enhance Bitcoin application performance and scalability. He believed that the rapid growth of major assets and Solana's importance demonstrate its potential and value as Bitcoin's L2, bringing new opportunities for Bitcoin application development. ICP DFINITY Foundation's Senior Research Scientist Aisling Connolly delivered a keynote speech on "Supporting Bitcoin L2 through Chain Fusion on ICP." Connolly detailed how the ICP network provides L2 support for Bitcoin through Chain Fusion technology. The ICP network is a network composed of standard node hardware running in independent data centers, aiming for decentralization. Connolly pointed out that the DFINITY Foundation provides a range of tools to help developers build L2 solutions for Bitcoin using the ICP network and Chain Fusion technology, accelerating development and reducing risks. She emphasized DFINITY's expertise in the cryptocurrency field, particularly its advanced encryption technology, ensuring network security and privacy. Connolly's speech showcased the DFINITY Foundation's unique perspective and strong capabilities in the Bitcoin L2 field, injecting new vitality into the development of the Bitcoin ecosystem. Bitmain's PoW ecosystem manager David Kim discussed how Ethereum Classic (ETC) empowers the Bitcoin ecosystem in his speech. He highlighted the similarities between ETC and Bitcoin in PoW and supply mechanisms, pointing out that ETC's EVM functionality can introduce more diverse decentralized applications to the Bitcoin network. David Kim stated that Bitmain is committed to establishing industry infrastructure and supporting the PoW ecosystems of ETC and Bitcoin. He believed that through cooperation and integration, ETC and Bitcoin can jointly drive the development of the cryptocurrency field, achieving broader applications and stronger network security. In conclusion, David Kim's speech demonstrated the cooperation potential between ETC and Bitcoin, providing new perspectives and opportunities for the future development of the cryptocurrency field. Roundtable discussion on "Exploring the Investment Prospects of Emerging Projects within the Bitcoin Ecosystem" brought together guests to discuss the investment potential of emerging projects within the Bitcoin ecosystem. Vishal Kankani (MULTICOIN Capital) emphasized the importance of team strength, technological innovation, and market potential. Electric Capital's engineers analyzed the potential and sustainability of emerging projects from a technical and engineering perspective. Eric (CMS Bitcoin Ecosystem Investor) focused on the project's business model and market adaptability. Jademont (Founder Partner of Waterdrop Capital) emphasized the importance of community support and project vision in investment decisions. Seb Ramirez (NC Partners Investment Team) focused on the long-term growth potential and scalability of projects. The guests unanimously agreed that exploring the potential of emerging projects within the Bitcoin ecosystem requires a comprehensive consideration of factors such as technology, team, market, and community. Next is the Demo Day project showcase, where these projects have been selected over two months, showcasing their innovative capabilities within the Bitcoin ecosystem. We also hope that these projects will drive the diversified development of the Bitcoin ecosystem. UTXO stack UTXO partner John Riggins pointed out in his Demo Day speech that the Bitcoin ecosystem lacks native solutions to address the challenges of programmability and scalability. He believes that although there are many Bitcoin layer tools on the market, the multi-chain bridging approach has not truly solved the fundamental problem. To address this, he proposed a solution to directly solve the programmability issue at the Bitcoin base layer and introduce more flexible and simple programmability through the RGB++ protocol. They also plan to provide a UK-based Layer 2 solution to enhance security and high-speed transactions. The RGB++ protocol supports building smart contracts on Bitcoin, combining Layer 1 and Layer 2 capabilities to provide a native cross-layer cost solution without the need for bridging. This solution is expected to bring revolutionary progress to the Bitcoin ecosystem. Fractal Bitcoin At Demo Day, project representative Laurendo introduced Fractal Bitcoin, an extension method designed specifically for Bitcoin. He emphasized that previous methods such as the Lightning Network were not effective, leading to the development of Fractal Bitcoin to achieve native extension of Bitcoin without introducing new variables and components. Its core is a virtualization method that virtualizes Bitcoin nodes into new instances without historical burdens, supporting protocols such as runes and BRC20 to achieve elegant extension. Laurendo also mentioned the Unicet Wallet developed by the Unicet team, supporting the switch between the main network and Fractal Bitcoin, providing convenience for users. In conclusion, Fractal Bitcoin offers a new, more elegant, and simple approach for the Bitcoin ecosystem.

Expansion method.

Bihelix

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At Demo Day, Jakub, the Global Marketing Director of Bihelix, delivered a speech on integrating the RGB protocol and the Lightning Network. He pointed out that despite Bitcoin's 15-year history, its ecosystem still lacks application ecology, with a large amount of capital in a dormant state. With the introduction of ordinals, the culture and interests of Bitcoin builders are being revived, and market demand is growing. However, despite technologies like Segwit and Taproot, Bitcoin's development is still relatively slow. To catch up with Ethereum, more smart contracts need to be added to Bitcoin and the impossible triangle problem needs to be solved. Existing solutions like sidechains and colored coins have limitations, so they are exploring better expansion and smart methods. Among them, integrating the RGB protocol and the Lightning Network is a feasible solution that is expected to inject new vitality into the Bitcoin ecosystem.

TerpLayer

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Hannah, the co-founder of TypeLayer, emphasized their role as an infrastructure service provider, focusing on data pricing and ensuring data trust in the native environment. TypeLayer's infrastructure consists of three main service parts, one of which is "Verified Essentials without a network," with its own consensus mechanism to verify Bitcoin base layer data. In addition, it provides text tagging functionality to help developers modularize and build similarities. Its infrastructure includes basic trends and large coin basic trends, with a decentralized node verification network, providing ecosystem members with various services such as ZK guardians and GRB services. TypeLayer has collaborated with commercial clients to support Bitcoin's first-layer serialized data.

ZKM

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Kevin, the founder and CEO of ZKM, introduced the universal zero-knowledge observation machine they are building in his speech, aiming to solve the blockchain fragmentation problem and provide unified liquidity. With a strong team background and support from multiple well-known institutions, they have built a complete system including observation machine technology, verification network, and upper-level framework to connect different chains and provide universal verification. Kevin specifically mentioned the team's focus on idle Bitcoin assets and their desire to cooperate with them to ensure the security of user assets and bring expansion functionality.

SHELL Finance

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The SHELL project representative introduced their work on building a large-scale native lending mechanism, aiming to achieve functions similar to IV or Maker DAO but with technological innovations using PSBT, DLC, and Beacon native technologies. The reason for choosing a large native platform is its high transaction fees and limited income sources for miners. The project representative mentioned the unsustainability of transaction fees in other projects, so they hope to build a large-scale quantitative trading mechanism to achieve sustainable transaction fees. Finally, they demonstrated the process of lending using native assets such as ORDINALS and RAINS, showcasing SHELL project's technical strength, innovative thinking, and market insights.

OpenBit

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The OpenBit project representative introduced their goal of enhancing Bitcoin liquidity in the speech. He pointed out that despite Bitcoin becoming a trillion-dollar ecosystem, liquidity has always been an issue. To address this problem, OpenBit is dedicated to building a cross-chain liquidity infrastructure to introduce Bitcoin liquidity to other levels.

He emphasized three major advantages of OpenBit. Firstly, they provide native asset support for the entire Bitcoin ecosystem, enabling assets to flow freely between different levels. Secondly, they have built a secure and efficient infrastructure, ensuring smooth liquidity. Lastly, they provide crucial infrastructure support for blockchain builders, users, traders, liquidity providers, and liquidity. During the speech, judges may ask questions about how OpenBit ensures asset security, how it collaborates with other blockchain platforms, and how it attracts more liquidity providers. Project representatives need to be prepared with appropriate answers to showcase OpenBit's technical strength and market prospects.

iOracle

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Kayla, the representative of the iOracle project, introduced a deep learning-based hybrid essential testing framework designed specifically for Bitcoin. This framework innovatively combines deep indexing with zero-knowledge provable data aggregation, developing the I Know network and ZK processor. This technology combination is novel and has great potential, reducing entry barriers and utilizing a large number of nodes to achieve top security performance. iOracle uses the most secure data aggregation consensus algorithm to ensure honest execution and verifiability. Compared to other decentralized indexing solutions, iOracle is more efficient, with performance increasing as the number of nodes increases. Nodes only index individual blocks instead of synchronizing the entire chain history, improving efficiency. Multiple computing tasks can be executed in parallel, demonstrating iOracle's advancement and practicality.

Bool Network

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The Bool Network project representative introduced a project aimed at safeguarding users' asset security recovery on Beacon. By submitting transaction data to Daily and allowing users to submit module route proofs of remaining assets, the project conducts double checks in case of issues to ensure that user assets can be safely transferred to Beat Coin. Additionally, Bool Network's vision is to ensure integrity and provide convenience for developers by open-sourcing code and providing Beta Collier to promote further development and application of blockchain technology. Use cases include Bitcom Bridge, ensuring secure transfer of Bitcoin to other assets and supporting various native Bitcoin assets. The project representative emphasized Bool Network's openness and scalability, providing powerful tools for developers to address the centralization issue in current indexers.

Bittap

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Ray, the representative of the Bittap project, introduced Bittap as a non-custodial wallet and decentralized market based on the Type Perss protocol, aiming to be an infrastructure on the Bitcoin network, providing users with robust asset management and trading solutions. He also explained the Temper Asset, a new asset insurance protocol, emphasizing its low complexity and lack of burden on the Bitcoin network, but pointing out that its infrastructure is insufficient, restricting users. Therefore, Ray discussed how Bittap utilizes the latest ap technology to fill this gap, enabling everyone to issue and manage their assets. Ray's speech showcased Bittap's provision of a more convenient and secure Bitcoin trading experience for users, highlighting its important role in the Bitcoin ecosystem.

Lnfi Network

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The Lnfi Network project representative introduced their platform as a Layer 2.5 solution aimed at driving global adoption of the Lightning Network. They pointed out that the asset lockup volume of the Lightning Network is lower than Ethereum, mainly due to the lack of decentralized financial applications. To address this, Lnfi Network introduced the "Lightning Fire" solution to provide infrastructure for decentralized finance. The project has Bitcoin security in Layer 1 and token insurance, Lightning Network support for instant transactions and native support for Table Assets in Layer 2, and allows various applications to be built in Layer 3. Using Starbucks as an example, Lnfi Network can enable them to issue token assets and develop a points system, whereas the simple Lightning Network only supports basic payment transfers. Lnfi Network's innovation and practicality were highlighted.

Dotswap 

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Lín Zhémíng, the founder of Dotswap, enthusiastically introduced his product - DotSwap at the meeting today. This is an innovative product that combines liquidity, smart contracts, and AMM exchanges, aiming to be a leader in the native field. Despite many competitors in the A1 native field, he is confident in his project.

Lín Zhémíng pointed out that with the popularity of fair launches and public minting, the community's enthusiasm for the fair launch model is increasing. However, this has also brought about a problem: limited liquidity before tokens are listed on centralized exchanges. To address this issue, their team developed an AMM exchange based on PSVT to increase token liquidity before listing.

Using Satoshi Nakamoto's token as an example, he emphasized the importance of liquidity issues. Despite the mining cost of this token being as high as 300 BTC, the trading volume on mainstream platforms is far below this. This indicates that currently, more fees are used for minting rather than actual liquidity.

Subsequently, Lín Zhémíng introduced their solution - Dotswap. This is the first native room to provide an AMM model for Rooms and tokens like BS 20s, ASC 20s. Since its launch in September last year, it has been warmly welcomed by users. Dotswap is fully participatory, completely decentralized, without any deposits or bridges. It supports mobile devices, has a simple and intuitive interface, provides one-click trading functionality, greatly facilitating users.

Vertex Labs

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The representative of the Vertex Labs project introduced the BSAA wallet, aimed at solving blockchain network congestion issues. They pointed out that Layer 2 networks often face challenges such as lack of equality and ecosystem singularity, and many use EVM, requiring users to use multiple wallets. Therefore, Vertex Labs proposed the Beat Sign and Obstruct Account Wallet solutions as connectors between DS and BTC networks, allowing users to operate through a Bitcoin network wallet and submit to Layer 2 network verification. The project adopts ERC 4337 technology mechanisms and plans to use Hash Log and Hash Time Log to reduce gas costs and achieve cross-chain asset management. Vertex Labs emphasizes the security advantages of its solution, aiming to bring greater convenience and security to the blockchain industry.

dustup

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Richard Bensberg, the representative of the Vdustup project, introduced their Bitcoin-native esports software platform, aiming to promote Bitcoin through the esports field. The esports field has a large user base, but they hope to significantly increase the number of users using esports platforms. They believe that by using Bitcoin as the currency for esports competitions, they can change the mainstream's negative perception of Bitcoin. Although the project is still in its early stages, they hope to receive more support and cooperation to achieve this goal. Richard overcame technical difficulties, successfully showcased the project, and hopes to attract more attention and support to drive the project forward.

Summary

After a day of exciting guest keynote speeches, celebrity roundtable forums, and innovative ecosystem project displays, Bitcoin Devcon 8 concluded successfully. These activities not only fully demonstrated the vitality and innovation of the Bitcoin ecosystem but also brought together the wisdom and power of global Bitcoin elites, jointly strategizing for the future development trends of Bitcoin.

As the final project came to a close, participants expressed that they gained a lot from this day's activities, deepening their understanding of the Bitcoin ecosystem and igniting more expectations and aspirations for the future. The guests' insightful speeches not only brought profound insights but also sparked resonance and contemplation among the participants; the celebrity roundtable forums provided a platform for exchanging and colliding ideas, where different viewpoints sparked ideas; and the innovative ecosystem project displays showcased the emerging new forces and opportunities in the Bitcoin ecosystem.

Overall, Bitcoin Devcon 8 was not only a successful exchange event but also an important milestone in the development of the Bitcoin ecosystem. We look forward to continuous innovation and breakthroughs in Bitcoin's future development, bringing more surprises and possibilities to the global digital currency field.

Associated Labels
Bitcoin Devcon Bitcoin Ecosystem UTXO Satoshi Lab Techub News Yakihonne Web3port
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