Building on Bitcoin in the Web3 Era

The vision expressed by Moy was shared by almost all Bitcoin enthusiasts, but opinions on how to actualize these ideas of decentralized money and finance were very different. From stablecoins to NFTs, almost every category of application commonly used in the decentralized finance industry today has its roots in Bitcoin, but a strong ideological current has begun to create a cultural shift towards discouraging and combating these projects. From Satoshi Dice in 2012 to Ordinals in 2024, Bitcoin’s history is littered with experimental projects that have been criticized for spamming, polluting, or distracting the Bitcoin community from its mission. As a result, developers, users and capital that could have flowed to a financial application industry running on Bitcoin were gradually pushed to other public blockchains.