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Smart Bitcoin Ignites Tech Innovation, BTCDomain Pioneers Industry’s Future

3 mins
Updated by Petar Jovanovic
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At this year’s Miami Bitcoin Conference, BTCDomain founder Jay Lee and his team showcased their technological innovations.

They led the industry trends at several significant events, such as the Bitcoin Builders Conference 2023, Ordinals 2023, Smart Bitcoin 2023, and Bitcoin 2023 Conference.

They introduced BTCDomain, the first intelligent application based on the Ordinals protocol and zero-knowledge proof.

Smart Bitcoin Labs, the incubator of BTCDomain, joined forces with two prominent Bitcoin accelerators, BTC STARTUP LAB and Bitcoin Frontier Fund, to co-host a professional networking event named “Only Bitcoin Founders & Investors Mixer.” Founders and related investors from various accelerators gathered at this event. As a co-host, Smart Bitcoin Labs invited BTCDomain, its first incubated project, to participate.

Representing BTCDomain, Jay Lee demonstrated to investors and industry leaders how to achieve the vision of Smart Bitcoin by using the Bitcoin mainnet as a trustworthy data availability layer and leveraging zero-knowledge proof as a trusted computation method.

Specifically, BTCDomain uses Ordinals technology to embed all metadata about the domain name, such as “name,” “first_owner,” “expireDate,” “sig,” etc., into the Bitcoin chain. As long as Bitcoin exists, the Bitcoin domain can be permanently searched and used.

Moreover, to prevent BTC losses that malicious domain resolution may cause, BTCDomain has introduced Zero-Knowledge (ZK) proof technology. BTCDomain plans to open-source its domain resolution program, and run it every time domain resolution services are provided, generating the resolution result and corresponding ZK proof.

Users need only verify the ZK proof to ensure the actual execution of the resolution program is consistent with the open-source version. This way, users can obtain trustless domain resolution results without setting up a Bitcoin full node.

Furthermore, Smart Bitcoin Labs held Smart Bitcoin 2023 for the first time, which will serve as a permanent side-event to the annual Bitcoin Conference. It invites developers and investors dedicated to the intelligence of Bitcoin chains for themed discussions.

At this conference, Smart Bitcoin Labs announced its mission to transform Bitcoin into the most flexible smart public chain and set a goal to become the largest startup incubator in the Bitcoin ecosystem.

At the conference, BTCDomain founder Jay Lee, Ordz Games founder z3th, AstroX founder Bruce, and Ordzaar co-founder U-Zyn were invited guests for the Founders Panel. Moreover, guests for the Financial Institutions Panel included Bitrise Capital co-founder Kevin Shao, Chain Capital founder Simon Li, Virgo Group CEO Adam, Bitmart’s CBO Kaimin, and NoRamp founder Daniel.

During the conference, Jay Lee shared his views on Bitcoin smart applications: “BTCDomain has implemented smart applications on the BTC network, and the entire ecosystem is developing faster than imagined. Most people in the United States know Ordinals, but only a few know BRC20. The emergence of Ordinals is a coincidence, but because of this coincidence, the intelligent Bitcoin has become a focus of the times.”

Meanwhile, William Xu, co-founder of Smart Bitcoin Labs, put forward a super-brain theory: “Bitcoin is like a brain that has only developed 2%. Further development of Bitcoin through Ordinals technology or other technologies, even just increasing the development level from 2% to 3%, could trigger explosive growth in Bitcoin applications.”

At the end of the conference, Smart Bitcoin Labs, as a co-founding member of Ordinals Vision DAO, jointly announced the initiative declaration of Ordinals Vision DAO with Bitcoin senior investor Kevin Shao.

BTCDomain’s innovative technology leads the future development of the Bitcoin ecosystem. Their outstanding performance at Bitcoin 2023 has been widely recognized. With the rise of Smart Bitcoin, we can anticipate more technological innovations and breakthroughs.

BTCDomain, as a leader in this field, shows us how much Smart Bitcoin can really do. It’s like opening up a whole new world of possibilities for everyone involved. Bitcoin’s future is just starting to take shape, and we’re eager to see where this journey takes us next. 

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