Bitcoin’s Evolution: Embracing DeFi, GameFi, and the Future of Decentralized Applications
Bitcoin’s Operating Mechanism: Bitcoin operates as a decentralized digital currency without a central bank or single administrator. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The process of mining, involving complex computational problems, adds new transactions to the blockchain and rewards miners with bitcoins.
GameFi Situation on Bitcoin: In the Bitcoin ecosystem, GameFi (gaming combined with decentralized finance) is emerging but has yet to achieve significant breakthroughs compared to other blockchain platforms. More projects are appearing, exploring the potential of integrating gaming with Bitcoin’s secure and decentralized network. However, these projects face challenges in gaining traction and p...