Original Title: "Sora Summit | Coinbase Founder Talks DeSci! Why Science Will Move Towards Decentralization? / Sora Summit | Bitcoin OGs Gather! Discussing L2 Development, Predicting Bitcoin Market Value to Reach 4 Trillion?"

Source: Chain News

On the 6th day of Taipei Blockchain Week, the Sora Summit, hosted by Sora Ventures, continued to provide high-quality speeches for attendees, following the main activities of the previous two days. The Sora Summit focused on Bitcoin, Decentralized Science (DeSci), and NFTs, and invited Coinbase CEO Brian Armstrong to speak on "Why the Future of Science is Decentralized?" to share his thoughts on the future development of science.

In the afternoon, the event reached a new climax. The founders of Ordinals, OnChainMonkey, Bitcoin Magazine, and BRC20 gathered together to discuss "The Implications for the Future of Bitcoin", exploring the development of the Bitcoin ecosystem in the past year and its possible prospects for the future.

「Why the Future of Science is Decentralized?」

Is the threshold for scientific research too high? How can ordinary people participate in DeSci?

For people without any academic background in deep learning, the scientific research process may seem too difficult to understand. How can the general public join the DeSci community and make contributions?

Regarding this, Armstrong used Satoshi Nakamoto as an example, stating that when publishing the Bitcoin whitepaper, it was not done in a "journal" format, but rather published online. Based on the Bitcoin whitepaper, a large industry has developed and has had an impact on the financial market.

Armstrong believes that many groundbreaking scientific ideas are initially overlooked, just like when Galileo proposed the heliocentric theory, it was not recognized by people. However, in the course of scientific development, ideas come from everywhere, not just limited to scholars with high education. Even ordinary people who may not have the ability to publish papers can contribute to the scientific research process, such as helping to collect information, reviewing literature, and writing articles.

DeSci is currently at which stage?

Regarding the development of DeSci, Armstrong believes that it is similar to product development, requiring continuous investment of effort to create products that are more convenient and efficient for users.

Although DeSci is still in its early stages, many people have joined this field in the past year. As long as it continues to develop and create products, more people will be attracted to it.

Current Problems in the Scientific Field

Aside from sharing his thoughts on DeSci, Armstrong also discussed issues in the scientific field. Many people who have obtained a PhD choose to enter the finance industry for better salaries. However, in this zero-sum game industry, it cannot bring value to social progress.

However, for those who make continuous contributions and invent things that change society in the scientific field, what they do cannot make them rich because IP is owned by academic institutions, and 99% of papers are not commercialized and are not read by people outside the academic community.

The continued development of DeSci can bring wealth to scientists, not because they want more money, but because they have truly changed society and can continue to conduct other scientific research with the money.

Make scientists cool again！

Finally, Armstrong talked about if you ask today's children, "What is the first profession in your heart?" Many people will say they want to become a Social Media Influencer, which is a popular term for internet celebrities. Currently, the most tracked accounts on social platforms are also mostly singers or athletes.

Although there is a need for certain entertainment activities in society, scientists are also important as they can better change the world.

Through the development of DeSci, Armstrong hopes to "Make scientists cool again!"

「The Implications for the Future of Bitcoin」

How was the Ordinals protocol born?

At the beginning of the speech, the host bluntly asked Casey Rodarmor, the founder of Ordinals: "What was your motivation for starting Ordinals?"

Casey said that he had created many generative digital art works in the past. When he first learned about NFT in 2017, he thought it was a cool thing. However, after the price of Art Blocks began to skyrocket in the NFT generative art market, Casey found some technical issues with Ethereum NFTs, such as excessive verification, off-chain image storage, and insecurity.

For various reasons, Casey had the idea of bringing NFTs to Bitcoin. In addition to improving these issues, the goal is to make transaction activity on the Bitcoin chain more active and attract more users.

Inscriptions trading is hot! Is Bitcoin L2 the best solution?

During the meeting, Domo, the creator of BRC20, shared the frenzy phenomenon of inscriptions in the past year. He stated that there are currently about 50 million inscriptions, which have generated about 3500BTC in transaction fees, equivalent to approximately 150 million US dollars.

Regarding the increasingly thriving Bitcoin transactions, Casey hopes that the Lightning Network can continue to develop into a more practical Bitcoin L2, in order to reduce the current problem of high transaction fees.

Bitcoin Magazine CEO David Bailey sees Ethereum's past as a glimpse into the future of the Bitcoin ecosystem. He believes that when Ethereum's transaction fees surpass $100 and Bitcoin's transaction fees become even more expensive with lower block efficiency and more restrictions, they will inevitably become even more expensive.

However, when people can't bear it, they will naturally switch to cheaper L2 for transactions. At the same time, the trading of homogeneous tokens on Bitcoin will also become more active because the fees are relatively low.

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