🎊Bitcoin Commerce Top 5 for 2023
Welcome to the Bitcoin Commerce Roundup!
Could 2023 mark the end of the seemingly endless crypto winter? While debacles like FTX have continued making headlines, the BTC price, Bitcoin tech and Bitcoin Commerce have made some huge advances!
What better way to start the year than with a roundup of the biggest stories in Bitcoin Commerce in 2023?
Here’s our Top 5:
5. NOSTR explosion
While 2023 did not see the birth of the NOSTR (Notes and Other Stuff Transmitted by Relays) protocol, it definitely witnessed a huge explosion. The protocol is designed to be super simple and developer friendly.
The first, and most popular use to date, is for replacement of centralized social media platforms like X and Facebook.
This combination of dev-friendliness and a market full of latent demand have caused a seemingly endless wave of innovation and growth in 2023.
Yes, it's early days, and the tech might have some room to mature. But the prospects for Bitcoin Commerce are huge and we are excited for what the coming year has in store.
https://bitcoinmagazine.com/culture/nostr-and-bitcoin-can-change-social-media
4. The rise of Lightning Service Providers
In 2023, the rise of Lightning Service Providers was groundbreaking. These providers are enabling non-custodial Bitcoin Lightning Network Applications, and will play a pivotal role in the future scaling of the Bitcoin Network.
Platforms like the Breez SDK, Voltage Flow, Amboss Hydro, and C= have emerged are driving the progress of this technology. They're making it possible for Bitcoin and Lightning to reach a broader array of applications and users.
Hybrid platforms like Alby and WebLN add versatility by offering both easy custodial connections and non-custodial options for advanced users.
This tech is opening doors to a world of possibilities for Bitcoin and Lightning Commerce.
3. Bitcoin AIs come online
AI has been pushing the boundaries of what is possible all year, including on the Bitcoin Network.
The development of tools like LangChain Bitcoin have made it possible for AI agents to natively manage digital money. The tech is new, rapidly developing, and as far as we know, yet to see any real world commercial application.
But it feels like the Internet of Money is right around the corner, and if so, we think 2023 will mark the year where it really first came online.
https://www.youtube.com/watch?v=6u1G8QIDuNU&t=1s
2. Bitcoin NFTs, tokens and Ordinals market madness
There’s no doubt that 2023 has been a year of “hold onto your hats” for Bitcoin Commerce and the overall Network.
Bitcoin NFTs, Tokens and Ordinals are causing an explosion of new activity in the Bitcoin markets, with all the good, bad and ugly that goes along with it.
We are seeing huge spikes in network traffic, new platforms, apps and marketplaces springing up everywhere and a niche industry that, love it or hate it, presents lots of opportunities for Bitcoin Commerce.
https://velascommerce.com/the-evolution-of-bitcoin-from-block-wars-to-the-great-ordinal-debate/
1. Sustained growth of Bitcoin circular economies
The Bitcoin circular economy is on fire! Inspired by Plan B in Lugano, Switzerland, and the legendary Bitcoin Beach in El Salvador, this innovative economic model is spreading fast and took no heed of the cold crypto winter.
More success stories are gaining traction worldwide, including in Peru, Brazil, Guatemala, and South Africa, where communities are embracing the idea of Bitcoin circular economies.
Spreading Bitcoin adoption through circular economies has even caught on in web and mobile applications, where users are sending micropayments in the form of zaps, boosts and value-for-value payments to people all around the world.
It's a global movement that seems to have found the secret sauce for user adoption, and the future is looking bright.
And our Bitcoin Commerce meme of the week.............🥁🥁🥁🥁🥁🥁
🧭 Navigate Bitcoin’s Lightning Network in a New High Fee Era
The recent spike in Bitcoin prices and network traffic have made a unique combination of headaches and opportunities. It’s also generated a lot of thinking on the future of scaling Bitcoin. Check out our deep dive here.
⚡Tapping into Taproot Assets
Lightning Labs is working on a series of short demo videos walking through using the Taproot Assets Daemon, tapd, from install to mint to transfer to burn! Find the playlist on YouTube here.
🌐 Our redesigned website is up!
We've been working hard on a website rebuild. Next we're working on adding some feature projects. Check it out here and let us know what you think.