The Tokenization of Everything: Three Theses for the Cryptocurrency Bull Market

Thesis One: Bitcoin Becomes a Network for Multi-Assets

In the world of cryptocurrency, the concept of tokenizing everything is gaining traction. This shift is set to guide three theses for the upcoming bull market. The Ordinals protocol, released by Casey Rodamor in January 2023, allows for the permanent insertion of any file type into the Bitcoin blockchain. This has sparked a culture and mindset where builders see Bitcoin as a canvas for creating other projects and applications.

Thesis Two: Layer-2 Blockchains Will Bring Crypto to the Masses

Layer-2 blockchains, designed to scale layer-1 blockchains, will play a crucial role in reaching mainstream adoption. In the last bull market, the market and infrastructure were not mature enough to fully utilize layer-2 solutions. However, with lessons learned and a more mature mindset, layer-2 blockchains are poised to shine. The implementation of EIP-4844 on the Ethereum network will further reduce transaction costs and make layer-2 networks more invisible and robust.

Thesis Three: Abstraction Solutions Will Simplify User Experience

With the tokenization of everything, simplifying the user experience is essential. Abstraction solutions will bridge the gap between the technical nature of the crypto universe and everyday users. By abstracting complex processes and eliminating concerns about gas fees, these solutions will make it easier for users and traditional companies to join the world of Web3. The goal is not to end decentralization, but to provide an option for those who prefer a simpler experience without sacrificing the benefits of blockchain technology.

Overall, major blockchains will be viewed as platforms for multi-asset consensus in the next market cycle. Scalability will be a key focus, making blockchain layers more invisible and less complex for users and businesses. This marks a new phase for Ethereum and Bitcoin, as they continue to revolutionize the cryptocurrency landscape.