Bitcoin Close to Surpassing Ethereum DeFi with One Upgrade

Bitcoin has the potential to shake up the DeFi space and give Ethereum a run for its money thanks to a small piece of code called OP_CAT that’s been dormant for a while. This code could introduce a whole new level of functionality to Bitcoin, making it a serious contender in the DeFi world.

Originally introduced by Bitcoin’s mysterious creator, Satoshi Nakamoto, OP_CAT was removed from the system in 2010 due to concerns about security risks. But now, after being resurrected by cryptographer Ethan Heilman and Botanix Labs lead engineer Armin Sabouri, OP_CAT is gaining popularity in the development community.

The upgrade could bring a host of new features to the Bitcoin network, including rollups and smart contract-like functionalities. This has caught the attention of industry veterans like StarkWare CEO Eli Ben-Sasson, who sees OP_CAT as the key to scaling Bitcoin to handle thousands of transactions per second.

Despite some skeptics who argue that Bitcoin’s sidechains are already doing a good job of scaling the network, others like Labrys founder Lachlan Feeney believe that OP_CAT is essential for Bitcoin’s growth. He sees sidechains as only temporary solutions and thinks that OP_CAT could pave the way for massive growth in Bitcoin DeFi.

But the road ahead may not be easy, as Feeney points out that it could take time for Bitcoin maximalists to embrace the changes brought on by OP_CAT. However, he believes that in the long run, OP_CAT will offer real utility and security to the Bitcoin network at its core.

So, while there may be some debate about the necessity of OP_CAT for Bitcoin’s future, one thing is clear: this small piece of code has the potential to revolutionize the world of DeFi and position Bitcoin as a serious competitor to Ethereum.