Summary
TLDR: In the bull market, Bitcoin Season 2 released new products, including Mezo and Alpen Labs receiving funding, the L2O Consortium launching, and new protocol announcements. However, many of these new gadgets lack a solid trust model or product. The Taproot Wizards criticized BitVM, causing controversy in the Layer 2 community. Runes, a protocol for fungible tokens, is highly anticipated. The industry is buzzing, but some developments may be more about performance art than legitimate engineering.
Key Points
1. Bitcoin Season 2 released part of its Spring/Summer collection last week, featuring new developments such as Mezo and Alpen Labs securing significant fundraising rounds.
2. The launch of the L2O Consortium by blockchain designers, including Starkware, aims to set standards for trustless applications and Layer 2s, sparking excitement and capital investment in the industry.
3. Despite the buzz and excitement surrounding new Bitcoin-native protocols and token contraptions, some skepticism remains regarding the legitimacy and practicality of these developments, with concerns about performance and trust models.