Background

Bitcoin has the longest running time and highest consensus in the world, and $BTC is the most valuable token. However, the Bitcoin ecosystem is lacking. We aim to bring prosperity to the Bitcoin ecosystem by building a new consensus on Bitcoin. This represents a market worth over $1.3 trillion, and we believe that Relinx, with its innovative business models and leading technology, can capture significant value from this market.

Through data analysis, we have concluded that the loss of user asset control and limited application scenarios are the main obstacles to the development of the Bitcoin ecosystem.

Talking data

$BTC’s Requirement for Nativeness

From the data, it's clear that most current Bitcoin ecosystem projects are not trusted by $BTC holders, even though they are endorsed by funds, exchanges, and other entities. Consider the following:

• 98% of $BTC remains on the Bitcoin network.

• $WBTC only accounts for 0.8% of the total BTC circulation, and $BTCB accounts for 0.3%.

• $WBTC, which uses Ethereum—a platform with high consensus and various DApp and ecosystem support—has been running for many years, yet its total volume is still only 0.8% of $BTC.

• The circulation of $BTCB, endorsed by Binance, the world's largest exchange, is even lower than that of $WBTC. Endorsement alone cannot gain $BTC holders' trust.

It is evident that solutions requiring users to relinquish asset control (such as cross-chain or asset mapping) cannot leverage the immense value of $BTC. The Bitcoin ecosystem needs a safer, more native, and more trustworthy solution.

$BTC Diversity Application Requirements

Current Bitcoin ecosystem projects are limited in their ability to realize diverse application scenarios and cannot fully harness the value of $BTC.

• Transaction Throughput: $BTC achieves a 24-hour transaction volume of $23B, yet its transactions per second (TPS) are only 7. Clearly, whether it's $BTC or other assets on the Bitcoin network, they rely heavily on off-chain or alternative transaction methods.

• Security: The Bitcoin network has operated reliably for 15 years and has established itself as a secure platform. Other blockchain networks face challenges in gaining trust from $BTC holders in the short term. Therefore, applications must be native to Bitcoin and leverage Bitcoin's inherent security guarantees.

• Scalability: With a market value of $1.35T, $BTC's market value is 5.8 times that of the combined market value of Staking and DeFi ($231.9B). Applications like Staking and DeFi cannot accommodate the substantial value of $BTC, indicating a need for more diverse application scenarios.

The above data highlights Bitcoin's robust security despite its low transaction performance. $BTC holds immense value, and unlocking this potential requires real-time, native solutions that can scale effectively while integrating diverse on-chain and off-chain applications. This approach could unlock the vast $1.3T market potential of Bitcoin.