The Bitcoin ecosystem has experienced significant growth over the past two years, with developments aimed at enhancing its usability as a peer-to-peer payment network and solidifying its status as a store of value. However, to achieve global adoption and fulfill its potential, Bitcoin must overcome technical limitations and price volatility.

The block size limit and price speculation pose challenges for developers seeking to build applications on the Bitcoin blockchain. To address these issues, two approaches have emerged: Layer 1 and Layer 2 applications. Layer 1 applications utilize the Taproot upgrade and Tapscript to enable smart contracts, while Layer 2 and sidechain solutions operate on top of or parallel to the main Bitcoin blockchain, leveraging its security features.

Several projects have emerged, including Rootstock, Liquid Network, Ordinals, Bitcoin Virtual Machine, Lightning Network, and Stacks. These innovations enable faster transactions, asset issuance, private transactions, non-fungible tokens, and smart contract programmability, expanding Bitcoin's utility and potential for global adoption.

As the Bitcoin ecosystem evolves, it's essential for developers, investors, and users to share the vision of a decentralized economic future, prioritizing security, stability, and decentralization. By working together, we can realize Satoshi's vision of Bitcoin as a global monetary network, promoting financial inclusion and prosperity for all.