For the larger part after its inception, Bitcoin has remained much same in terms of its technological advancement and over the network enhancements. However, the year 2023 witnessed a shift from this dogma to renaissance which is clearly visible in the rise of 'Bitcoin Ecosystem'.
The term 'Bitcoin ecosystem' isn't new and it's been there ever since bitcoin started recieving technological upgrades. You may date these advancements back to the Bitcoin Cash fork which was a ploy to enhance Bitcoin's capabilities, albeit with a conspiracy to take down Bitcoin. That failed and then came a few successful ones like 'lightening' and 'Segwit' upgrades. However, these upgrades were to only upgrade over the network capacity and security of Bitcoin and they did not complete 'Bitcoin Ecosystem'.
The urge for an ecosystem for bitcoin, much similar to Ethereum's, post those upgrades was making waves. 'The lack of use cases for Bitcoin' was written over and over as a 'would be failure' for the world's largest Cryptocurrency. This criticism made more waves after Bitcoin solved scalability issues with lightening network implementation.
Those who understand Bitcoin would not pay attention to any criticism as they believe that Bitcoin answers them all by itself. The answer came in the form of 'Taproot Upgrade' in 2021 and that's when the renaissance in Bitcoin started.
Many people will say that they even didn't get to know about 'a taproot' ever for Bitcoin prior to Ordinals. Yes, Ordinals were not something that 'taproot' intended but it enabled Bitcoin to form an ecosystem of its own and that's what Bitcoin needed to move further.
The marks of 'Taproot' and 'Ordinals' are visible everywhere. Ordinals are 'Neo NFT Marketplaces', Bitcoin runs larger and more complex scripts, Bitcoin DeFi marketplaces to issuing new coins on top of Bitcoin are all now possible. 'Taproot' has surely ignited a new shift towards making it more competitive in terms of usefulness. Now the criticism of Bitcoin has shifted towards the criticism for 'Ordinals' or 'Bitcoin's resurging ecosystem'.
If we compare the notion of renaissance, it's something that doesn't stop once started. So is the same for Bitcoin and nothing can stop it now until 'The old order changeth yielding place to new.'
One more thing, The renaissance will go on whether the Bitcoin Spot ETFs approve or not. Bitcoin is much bigger in and ETFs would just be a small feat to measure. TBH, The FOMO for ETFs is bigger than what they actually are. If you are to FOMO, FOMO on Bitcoin's actually getting a speed booster in the form of Bitcoin Ecosystem, consisting BRC-20, ARC-20, Bitcoin Stablecoin, Bitcoin NFTs, Bitcoin Smart Contracts, Bitcoin DeFi and much more.
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