sats

<t-21/><t-22/>#sats The global political and economic landscape is unstable, traditional safe-haven assets like gold and silver are hitting new highs, while the cryptocurrency market is quietly accumulating energy amidst a downward trend. Bitcoin, as the 'digital gold', is seeing its consensus continuously strengthen; a target of $200,000 is not out of reach, but the high price makes it daunting for ordinary people. At this moment, the leading BRC-20 ecosystem token ORDI has dropped from nearly $100 to around $4, becoming the optimal solution for ordinary people to participate in the Bitcoin ecosystem explosion, with its potential to break through $1,000 being underestimated by the market.

The value foundation of ORDI lies in its irreplaceable ecological position. As the first BRC-20 token on the Bitcoin network, it is the ecological core spawned by the Ordinals protocol, much like UNI on Ethereum, holding an irreplaceable first-mover advantage. With a fixed total supply of 21 million and full circulation, designed without pre-mining or team allocation, its scarcity is comparable to Bitcoin, and this characteristic will greatly amplify its price increase under the funding chase during a bull market. Currently, there are over 18 million inscriptions on the Bitcoin blockchain, and the ORDI-led ecosystem occupies 25% of Bitcoin's block space usage, becoming the core carrier for the expansion of Bitcoin network functions.

The number of Bitcoin on-chain transactions increased by 62% month-on-month (MoM) in November 2023, primarily due to the resurgence of Ordinals and BRC-20. The total dollar value of Bitcoin transfers in November exceeded $147 billion, a massive 21% increase from the previous month. This increase is mainly attributed to the appreciation of BTC price in USD terms, but BTC trading volume in the spot market also increased by 18% month-on-month, while futures trading volume fell by 1% month-on-month respectively. Since the rise of Ordinals in January 2023, the Bitcoin development community has seen a significant resurgence in exploring new fungible token protocols, scaling solutions, and smart contract implementations. Overall, the post-Ordinals Bitcoin development landscape has expanded and is working harder than at any time in years to enhance on-chain and off-chain application use cases. This note will highlight seven major developments and recommendations for Bitcoin in Q4 2023. These developments highlight a renewed commitment from Bitcoin ecosystem developers to expand Bitcoin’s adoption and support use cases. Technology Development BitVMBitVM What is: BitVM implements expressive smart contracts on Bitcoin. Given the nature of Bitcoin’s design, executing smart contracts directly on Bitcoin is slow and expensive. With BitVM, smart contracts are executed off-chain, and participants can only directly use the code on Bitcoin in the event of a dispute, using Bitcoin's native scripts to execute contract rules. BitVM operates similarly to optimistic rollups used in the Ethereum ecosystem, including elements such as fraud proofs and challenge response protocols. BitVM contracts are structured to allow two parties to agree on a sequence of pre-signed transactions that lead to an event. Similar to optimistic rollups, these types of contracts assume you don’t cheat, but if you do, the honest party has the opportunity to challenge the cheater. Crucially, BitVM does not require an upgrade to Bitcoin’s Layer 1 blockchain. BitVM only uses primitives already understood in Bitcoin, such as hash locks, time locks, and Tapscript. Why it matters: Bitcoin is often criticized for its lack of innovation and ability to directly compete with other, more general Layer 1s like Ethereum and Solana. Bitcoin has always prioritized layer-by-layer scaling rather than trying to extend the functionality of the base layer.The Lightning Network is an example of a high-performance payment-centric network built on top of Bitcoin. With BitVM, more complex calculations can be performed on layers built on top of Bitcoin, thus continuing to scale Bitcoin through layers rather than upgrading the core protocol. Taproot Assets goes live on mainnet What is the Taproot Assets protocol: Lightning Labs, a blockchain development company building software for the Bitcoin Lightning Network, has released a new protocol for the issuance of stablecoins and other assets on the Lightning Network. The Taproot Assets Protocol (formerly TARO) enables developers to issue, send and receive Bitcoin-based assets. For many years, Lightning Labs has been proposing and working on ways to issue assets on the Lightning Network, and the release of this mainnet is an important milestone. Taproot Assets are created by entering arbitrary data into Tapscript. Tapscript is a scripting language used to enable various new transaction types during the Taproot upgrade process. Taproot assets use Taptree, a Merkle tree data structure, to store token data in Taproot outputs. All Taproot assets are issued on-chain through standard Taproot transactions at the base layer. Although Taproot assets are issued and settled on the Bitcoin base layer, Lightning Labs specifically designed Taproot assets to be compatible with the Lightning Network. The Taproot asset functions via a modified version of the Partially Signed Bitcoin Transaction (PSBT) that is also used to trade Ordinals and BRC-20, called the Virtual Partially Signed Bitcoin Transaction (vPSBT). The mechanism is a way to trade Taproot assets in a trustless peer-to-peer manner on the Lightning Network. Why it matters: Taproot Assets will provide an efficient way to create fungible tokens on Bitcoin. In April 2023, Ordinals developers created a new fungible token standard called BRC-20. The token standard uses inscription technology that allows users to attach arbitrary data to a single sat (the smallest unit of Bitcoin). The emergence of BRC-20 proves that there is demand for NFTs on Bitcoin, despite the notorious inefficiency of the BRC-20 standard.With the official launch of Taproot Assets on October 18, 2023, NFTs on Bitcoin have the opportunity to flourish on the Lightning Network. The benefits of owning NFTs on the Lightning Network include reducing network congestion on Bitcoin’s native chain. Overall, Taproot Assets is a promising solution for introducing NFTs on Bitcoin and allowing more users to join the Lightning Network. OP_CAT Proposal What is the OP_CAT proposal: Bitcoin researcher Ethan Heilman submitted a Bitcoin Improvement Proposal (BIP) to the Bitcoin-Dev mailing list, proposing to add the OP_CAT opcode to the Bitcoin scripting language. This opcode will enable developers to build and evaluate Merkle trees and other hash data structures in Tapscript, a native scripting language used to enable new transaction types during the Taproot upgrade process. OP_CAT is not a new idea. Bitcoin developers previously removed opcodes from Bitcoin scripts because it could build data-intensive scripts that taxed Bitcoin node computing resources. However, since the Taproot upgrade introduces a size limit for Taproot scripts (520 bytes), OP_CAT will be a useful tool for developers without incurring excessive computational overhead for node operators. Why it matters: Before the Taproot upgrade in November 2021, Bitcoin relied entirely on Bitcoin Script for programmability. However, the Taproot upgrade significantly expands Bitcoin’s transaction programmability capabilities. Enabling OP_CAT will further enhance Bitcoin’s programmability by removing previously imposed limitations, creating new opportunities for different use cases. OP_TXHASH Draft Proposal What is the Draft OP_TXHASH Proposal: Bitcoin Core developer Steven Roose proposed a BIP that focuses on the benefits of implementing two new opcodes for the Bitcoin scripting language, OP_TXHASH and OP_CHECKTXHASHVERIFY. The OP_TXHASH opcode would directly compete with BIP-118 and BIP-119, the two main contract proposals for Bitcoin today. Covenants are predetermined payout conditions imposed on Bitcoin transactions. For example, a user could create a contract that ensures that the recipient of a transaction can only spend BTC sent to their address after 200 blocks.Why it matters: Enabling contracts could be the impetus for Bitcoin’s next major upgrade. TXHASH is one of the leading BIPs that developers hope to activate within 1-2 years. TXHASH allows customizing transaction fields in Bitcoin transactions, providing a more adaptable way of expressing contracts. This flexibility enables users to adjust transaction fees, a key feature when dealing with uncertain and fluctuating rates, which is not supported by other compact proposals such as BIP-119. Additionally, OP_TXHASH has the potential to replicate the functionality of BIP-118 when combined with other BIPs such as OP_CAT, another leading contract proposal currently being evaluated by the Bitcoin community. Lightning Timeout Trees Proposal What is the Lightning Timeout Trees Proposal: The Lightning Network is Bitcoin’s primary layer 2 and has seen widespread adoption over the past few years. A key barrier to further adoption is that users need to initiate at least one on-chain Bitcoin transaction when using the Lightning Network in order to move funds off-chain. This restriction limits the number of users who can move assets off-chain, especially if on-chain transaction fees are high. One long-explored solution is a concept called "channel factories," which would allow multiple users to join the Lightning Network in a single Bitcoin transaction. The implementation of Channel Factories has the potential to significantly lower the barrier to entry for the Lightning Network by reducing the cost of opening Lightning channels between multiple users. Why it matters: Although Bitcoin has been theorized for years, its scripting limitations have made it difficult for anyone to come up with a convincing and secure solution to enable channel factories. However, John Law’s “Lightning Timeout Trees” proposal may have found a solution using contracts, i.e. spending conditions on BTC transaction outputs. The proposal introduces the concept of a coordinator (or Lightning Service Provider - LSP) that will oversee the opening and closing of user channels. By using contracts, coordinators will be restricted from spending a user’s BTC without proper authorization. While the proposal is not without limitations, it is the first channel factory architecture to leverage contracts, a powerful mechanism for adding spending conditions on BTC that is increasingly popular among Bitcoin developers and is suitable for applications including BTC Various use cases including hosting (see BIP 345).Updated Musig2 Proposal What is the MuSig2 proposal: MuSig2 is an upgraded version of MuSig1, a multi-signature scheme on Bitcoin that enables privacy and scalability. MuSig allows multiple parties to control a private key with their own keys. A shared private key does not look like an on-chain multi-signature transaction, thus leaving a minimal on-chain footprint. MuSig1 is an advancement based on Schnorr signatures that offers significant enhancements over Bitcoin's traditional multi-signature scheme that relies on ECDSA. MuSig2 (BIP-327) is an improved iteration of MuSig1 that provides superior security, efficiency, and privacy features by operating as a two-round multi-signature scheme, requiring only two rounds of communication between signers to generate valid signatures instead of Three rounds. In October, Bitcoin Core developer Andrew Chow proposed two new BIPs focused on MuSig2 development. The proposed BIPs are MuSig2-PSBT and MuSig2-Descriptor. Why it matters: MuSig2-PSBT is a standards-track BIP that will enable a private multi-signature scheme for partially signed Bitcoin transactions (PSBT). This advancement will benefit Ordinals and BRC-20 users and markets, which use PSBT to facilitate the sale of assets, in addition to other users. Integrating MuSig2 into PSBT will overall help hide these types of on-chain transactions by making multi-signature transactions look like single-signature transactions. The second BIP, MuSig2-descriptors, is an informational BIP that will help wallet providers implement MuSig2-PSBT by providing a way to describe transaction outputs controlled by MuSig2 wallets. It is worth noting that the BIP for MuSig2-PSBT is still under preliminary review and needs to be assigned a BIP number, so the BIP will not be ready for shipping in the short term (6-12 months). BIP-324 – V2 Transport What is BIP-324: BIP-324 is a privacy-oriented improvement to the Bitcoin P2P layer. This layer on Bitcoin facilitates the transfer of data between Bitcoin nodes. The Bitcoin P2P layer acts as a highway for data, although most of the data is clear text information and is vulnerable to many types of attacks. Potential attackers may employ passive methods, such as monitoring node activity to gather information about IP addresses and transaction origins, or active techniques, including tampering activities such as intercepting data transmitted by nodes and conducting censorship.These attacks are called MITM (man-in-the-middle) attacks. BIP-324, formerly known as BIP-151, advocates encrypting data on Bitcoin’s P2P layer to increase resistance to passive and active attacks on Bitcoin. Why it matters: The latest version of Bitcoin core (v0.26) adds support for version 2 encrypted P2P transfers specified in BIP-324. This feature is disabled by default, but allows anyone to turn it on and benefit from additional protection. This is a major step towards P2P-level privacy for Bitcoin and marks the first time BIP has been activated on Bitcoin since 2021 (although BIP-324 did not require a soft fork). #BRC20 #ATOM #sats #AVAX #BTC $BTC $ETH $BNB

Short-term Buying Suggestion
The current price is 0.0001388, and SATS Coin is at the starting point of 'I want to make a comeback'! It is recommended to buy in batches in the range of 0.0001370 - 0.0001395, keeping some firepower for future movements. Don't fear the sluggishness, only fear missing out; SATS Coin may renew your account!
Take Profit Target Level:
0.0001450 (small target, steady progress)
0.0001510 (medium target, initial taste of sweetness)
0.0001600 (big target, fame in one battle)
Stop Loss Suggestion
:
Set below

0.0001345

, protect your life and keep the green mountains.Analysis BodySATS Coin's Support and Resistance:Support Level: The support near the current price is obvious, especially around 0.0001370, like the market giving SATS a pair of supportive underpants, firmly protecting it from falling into the abyss.