Bitcoin 2024 wasn’t just about political debates and regulatory discussions. True to its roots, the event was a vibrant hub of innovation, demonstrating how the cryptocurrency and decentralized finance (DeFi) ecosystems continue to evolve. Amidst the political discourse and regulatory frameworks, the event spotlighted numerous advancements, setting new industry benchmarks. While the mainstream attention might have focused on high-profile speakers, these important developments are quietly paving the way for the future of Bitcoin and DeFi.
Historic SNARK Verification on Bitcoin with BitVMX
One of the most significant milestones at Bitcoin 2024 was the successful demonstration of SNARK proof verification on Bitcoin using BitVMX. This breakthrough was achieved without altering the Bitcoin protocol, marking a pivotal moment for cryptographic proofs on the Bitcoin network. The process involved compiling Citrea’s SNARK verifier to the RISC-V architecture and executing it on a virtual CPU, with results published on-chain. This development enhances the capabilities of the BitVMX proving system and opens the door for broader applications of SNARK proofs within Bitcoin. The team behind BitVMX is now focused on refining the technology and preparing it for an open-source release, which could have far-reaching implications for Bitcoin’s future.
Oobit Collaborates with Tether and TON Foundation
Oobit made headlines by announcing a strategic partnership with Tether and the TON Foundation, aimed at streamlining transactions using USDT and Tether Gold (XAUt) on The Open Network. This collaboration allows users to pay merchants in fiat currency while spending cryptocurrencies, demonstrating Oobit’s commitment to bridging the gap between traditional finance and the digital asset ecosystem. This partnership is particularly noteworthy given Oobit’s recent $25 million Series A funding round, underscoring the company’s growing influence in providing unbanked individuals with access to global payment solutions. Phillip Lord, President of Oobit, emphasized the potential of this partnership to transform digital payments, and his insights could offer a glimpse into the future of cryptocurrency transactions.
Core Foundation Introduces Bitcoin x CORE Dual Staking
The Core Foundation has taken a bold step in Bitcoin finance by introducing a Dual Staking model, combining Bitcoin with CORE tokens. This model builds upon Core’s successful launch of Non-Custodial Bitcoin Staking, allowing Bitcoin holders to earn yield while maintaining custody of their coins. The Dual Staking mechanism is designed to offer higher rewards for those who stake both Bitcoin and CORE tokens, with even greater incentives for long-term stakers. This initiative not only strengthens the relationship between Bitcoin and Core but also positions the CORE token as a central element in the evolving landscape of Bitcoin finance. Industry analysts have hailed this development as a significant enhancement of Bitcoin’s utility and security.
Casa Integrates YubiKeys for Enhanced Bitcoin Security
Casa, a leader in Bitcoin self-custody services, has enhanced its security offerings by integrating YubiKeys into its platform. This new feature provides Casa users with increased flexibility and convenience in securing their Bitcoin vaults. YubiKeys, known for their compact size and easy tap-to-use authentication, add an extra layer of security to the already robust self-custody services provided by Casa. Nick Neumann, CEO of Casa, emphasized the importance of this integration in offering users a more secure and user-friendly experience, reinforcing Casa’s position as a trusted provider in the Bitcoin security space.
Roxom Launches Bitcoin-Native Stock Exchange
In a groundbreaking move, Argentine entrepreneurs Borja Martel and Nick Damico have launched the world’s first fully Bitcoin-native stock, commodities, and futures exchange. With $4.3 million in backing from prominent investors like Draper Associates, Roxom aims to bring Bitcoin to the forefront of global finance by allowing companies to issue dividends and debt in Bitcoin. The platform also enables investors to earn returns directly in the cryptocurrency, representing a significant step forward in the integration of Bitcoin into traditional financial markets. Roxom’s launch at Bitcoin 2024 marks a new era for Bitcoin as it continues to establish itself as a global financial asset.
Conclusion: Building the Future of Bitcoin and DeFiRoxom Launches Bitcoin-Native Stock Exchange
Bitcoin 2024 has once again proven that the real innovation in the cryptocurrency space often happens beyond the headlines. These developments showcase how Bitcoin is evolving from a mere store of value into a multifaceted financial asset with applications that extend far beyond its original use case. As the industry continues to grow, these advancements highlight the ongoing efforts to build the infrastructure and tools that will shape the future of Bitcoin and decentralized finance. From groundbreaking cryptographic proofs to the launch of a Bitcoin-native stock exchange, these innovations are setting the stage for the next chapter in the Bitcoin story.
Kelly Ferraro is an events columnist at Grit Daily. She is the CEO and president of River North Communications, touting two decades of experience as a corporate communications and TradFi professional. She is also the chapter director for VNTR, and is a three-time mentor with Outlier Ventures. Having worked at Bank of America and Guggenheim Securities, she is well-equipped to design and implement media campaigns aligning with business objectives. Kelly began her career at a hedge fund, developing a love for numbers as they told a company’s true story. She is also passionate about the evolution of blockchain and believes transparency is the key to widespread adoption.
