The Off-Chain Bitcoin Bull Market – Bitcoin Magazine

The Off-Chain Bitcoin Bull Market – Bitcoin Magazine

  • Bitcoin
  • August 31, 2022
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This is an opinion editorial by Zack Voell, a bitcoin mining and markets researcher.

One of the more interesting and controversial developments in the Bitcoin ecosystem is off-chain use cases. Many of these applications are not technologically identical, but they all nonetheless expand the list of potential use cases apart from the Bitcoin base layer for a given bitcoin holder. And some of these products are completely outside the Bitcoin economy altogether.

This article takes no position on the unique merits of any particular off-chain use for Bitcoin, but it summarizes some growth trends and supply data showing growth and adoption across Layer 2 protocols, bitcoin-backed tokens and more. Using bitcoin in these ways is not suited for every investor, but anyone who cares about the broad scope of Bitcoin adopters should take note of these trends to better understand where and how bitcoin are moving.

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