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Hello Devs!
Welcome to the latest edition of Devs Dispatch, your go-to source for all things Web3 development. In this issue, we’re diving into some of the most exciting and impactful developments in the Web3 landscape. Let’s get started!
Core Chain Updates
Core Chain devs have successfully implemented the first iteration of their novel orderbook DEX. Users can trustlessly swap native assets between ANY EVM chain without restriction. In the coming months, the DEX will be improved to support any ERC20 assets on any supported EVM blockchain, as well as the addition of truly trustless and decentralized swaps between Bitcoin, BRC-20, EVM and Ordinals assets.
What is new at Core Chain?
- Core Starter Program: Over $300k in free resources. Builders on Core Chain get access and discounts to Google Cloud, Hacken, Halborn, Certi, Request Finance, Elixir, Tokensoft, Questly, and more to come.
- Human Readable addresses will be coming on Core Chain with the recent partnership between Core Chain and D3 to bring .core domain naming system to the Core Ecosystem.
Bitcoin Developer Insights
Bitcoin’s Innovation: Core Chain contributor Denali Marsh highlighted that Bitcoin’s role as digital gold remains unchanged, but innovation is making a comeback on the Bitcoin blockchain.
Core Chain is leveraging underappreciated Bitcoin primitives to expand functionalities for BTC enthusiasts. As we enter the early stages of BTCFi, it’s clear that only projects aligned with Bitcoin’s core philosophy will capture a share of this vast market.
Ignas Defi Research on BTC L2 Limitations: Ignas, known for his DeFi research, talks about the growing mindshare of the BTC L2 narrative. He discusses the attractiveness of fast and cheap transactions on Bitcoin and the significant complexities involved in building a real decentralized L2 that inherits the security of BTC. He notes that many “L2s” will launch promising decentralization, cheap transactions, and speed, but will function as sidechains with wrapped BTC and multiple trust assumptions. Ignas encourages studying the sector early for potential knowledge arbitrage.
Bitcoin’s Need for DeFi and Consumer Apps: Layer-2 developers believe that Bitcoin needs to embrace DeFi and consumer apps for mass adoption. Projects like Bitcoin Virtual Machine (BVM), SatoshiVM, Spiderchain, and BitVM are working to expand Bitcoin’s functionality and connect it to the Ethereum ecosystem.
However, existing Bitcoin Layer 2 solutions have limitations. Core Chain’s novel Satoshi Plus consensus mechanism enables an approach that builds directly on top of Bitcoin to achieve scalability, while addressing capital efficiency, liquidity issues, and other barriers to mass adoption.
Carla Kirk-Cohen on Scaling Bitcoin: Carla Kirk-Cohen, a software engineer working on the Lightning Network at Chaincode Labs and a Board Member at Btrust, shares her insights on scaling Bitcoin. She emphasizes the importance of refactoring legacy code, the necessity for patience and perseverance in understanding the Bitcoin codebase, and the positive aspect of having a community actively looking into the code.
Rise of Veteran Web3 Developers: Despite a 25% overall decrease in developers working in crypto from a year ago, Electric Capital finds that veteran Web3 developers are on the rise.
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Web3 Landscape Updates
Bitcoin’s Evolution and OP_CAT’s Revival
Bitcoin developers are pushing the boundaries by experimenting with features and upgrades that echo the vibrant activity on alternative blockchains like Ethereum. A notable development is the push for the revival of the “OP_CAT” code through a Bitcoin Improvement Proposal (BIP). This code, which existed in the early days of the network, could unlock new possibilities for Bitcoin’s functionality.
Interoperability and Web3 Gaming Maturity
Experts recommend prioritizing interoperability to achieve greater adoption in Web3. Additionally, the Web3 gaming industry is maturing, with infrastructure and opportunities shaping the sector.
New dApps & Toolings in the Core Chain Ecosystem
dApps & Tooling that is making waves in the Core Chain Ecosystem.
Pixudi, an adventure free-to-play game just launched on CoreChain.
OmniBTC, an ominchain financial platform for web3, including omnichain swap and omnichain lending launched recently on Core Chain.
Elixir Games Launcher is now on Core Chain. Game developers in the Core ecosystem can now launch their games on a Core-integrated gaming platform, and gamers can play games, own and sell their in-game assets on CoreChain.
Looking to Build your next App or Tooling in Web3?
CoreChain is the best ecosystem to deploy on at the moment. It’s EVM compatible and there are lots of available resources to get you started. Check out coredao.org for more information.
Stay tuned for more updates and insights into the world of Web3 development. Happy coding!
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