Bitcoin ETF provider Franklin Templeton has high hopes for Bitcoin, Ethereum, and Solana

Expressing expectations for BTC, ETH, and SOL

On the 18th, the digital asset analysis team at Franklin Templeton, a major US asset management company, posted a series of posts about crypto assets (virtual currencies) on X.

He has expressed his views on Ordinals, also known as Solana (SOL), Ethereum (ETH), and Bitcoin (BTC) versions of NFTs (non-fungible tokens). First, he stated the following.

Ordinals & Layer 2 solutions on Bitcoin shouldn’t be ignored

These are vital to solving Bitcoin’s economic security problem and increasing BTC’s utility as a SoV

— Franklin Templeton (@FTI_US) January 17, 2024

Last December, the long-established auction house Sotheby’s held its first auction of Ordinals’ artwork. The community has praised Ordinals as an innovation that will increase interest in Bitcoin and create a new revenue stream for miners.

On the other hand, discussions have arisen among Bitcoin developers, including the need to set rules for Ordinals transactions.

connection: Proposal to limit the function of Bitcoin version of NFT “Ordinals”, discussion is confusing

Bitcoin’s Layer 2 is known as the Lightning Network, which expands transaction processing capacity and speeds up transactions.

In addition, Bitfinity, which enables the introduction of smart contracts that are not included in Bitcoin Layer 1, has raised a total of $7 million (1 billion yen) and plans to launch its mainnet at the end of this month or early February. scheduled.

connection: “Bitfinity” with EVM compatibility on Bitcoin Layer 2 raises $7 million

“A tailwind for Ethereum”

Franklin Templeton pointed out that Ethereum has tailwinds that are revitalizing the ecosystem, such as “EIP-4844”, “Alt DA”, and “Restaking”.

EIP-4844 is an improvement proposal also known as “proto-dunk sharding” that is said to be able to reduce transaction fees at Layer 2 such as Optimism (OP) and Arbitrum (ARB) by up to 100 times.

The next upgrade “Dencun” that implements this EIP-4844 has just started testing on the testnet.

connection: Ethereum begins testing next upgrade “Dencun”

Modular data availability (alt-DA) projects generally involve proving outside the unified L1 that data exists on the blockchain and is available when needed, potentially reducing network congestion. be. For example, Celestia and Avail are working on this.

connection: Modular BC construction “Celestia” encourages early participation through airdrop targeting 580,000 addresses

connection: Polygon’s modular blockchain Avail becomes independent

“Restaking” is a technology that makes it possible to operate and restake LST (Liquid Staking Token) derived from ETH used for Ethereum staking.

connection:
EigenLayer-based Ethereum “restaking” Renzo raises $3.2 million

About Solana

Franklin Templeton pointed out that Solana is a strong use case for decentralized blockchain to reduce information asymmetry due to the vision of Anatoly, who leads Solana Labs.

In addition, the activities seen in the fourth quarter of 2023 (October to December), such as DePIN, DeFi (decentralized finance), meme coins, NFTs (non-fungible tokens), and the validator client “Fire Dancer”, were also impressive. It goes on to say that it was.

connection:
Why is Solana’s “Fire Dancer” expected to be a game changer?

connection:
Solana’s breakthrough, market influence of blockchain technology driving 500% annual growth

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