Trends & Signals
By: Matt Allen
Explore the latest insights, thought leadership, and research from FCAT®
Bitcoin Renaissance: Exploring Layer 2s
November 1, 2024
In January 2023, Bitcoin developer Casey Rodamor combined two previous upgrades to Bitcoin Core’s protocol to launch Ordinals and Inscriptions. The project jumpstarted Bitcoin and Layer 2 development as projects previously deemed impossible on Bitcoin were reconsidered with newfound enthusiasm. This movement has been dubbed the “Bitcoin Renaissance”. This paper is the first in a three-part series providing an overview of what L2s are, how they function, and what sorts of applications they enable on Bitcoin.