First ecosystem-wide report on Bitcoin financial applications and infrastructure.

Had to close my eyes when reading this, but it helps to see how various bitcoin "layers" are operating outside the rails of bitcoin. Now, how each layer declare to plug into bitcoin is a mystery to me, I only know about Lightning, Something about Liquid, BitVM , Ark mentioned twice, and no trace of RGB. All the rest is like Egyptian hieroglyphs on a stone to my eyes.

The report bounce extremely, starting from a jump and dump between stacking and landing, passing by programmability, to end with stable"coins". Here some Programmability shots:

An broader-than-expected Bitcoin scaling solutions, falling into several distinct camps:

Lightning still being the only payment rail. Stacks maybe is catching up, but stlll much of it is in the gambling field. Behind it, people from Draper Associates, Stacks, Trust Machines, Fold and many more playing the VC game with a bitcoin flavor.