What is the real ambition of Unisat from wallet to Bitcoin L2 to chain games

Author: Jessy Golden Finance

The market is bleak, and the relevant market performance of the Bitcoin ecosystem is not satisfactory. The sluggish currency price is a good time to rethink the current development status and future of Bitcoin ecosystem.

Recently, Inscription Sats tripled from its recent low point, which is a rare bright color in the sluggish market. The reason behind its counter-trend market is because of the empowerment of the Unisat team, which stated that it will use Sats as a gas fee for its Swap products.

Unisat is a difficult project in the Bitcoin niche. After the inscriptions became popular, it quickly launched a platform for inscription deployment, minting and trading, as well as a Bitcoin wallet, which simplified everyone's process of participating in the inscription ecology. Becoming famous in one battle also laid the foundation for Unisat to establish its position in the Bitcoin ecosystem.

In September, the second-tier Bitcoin Fractal made by Unisat will be launched on the main network. To this day, Unisat is no longer just a wallet company, or a Swap. Unisat has invested, done it himself or supported many Bitcoin ecological projects.

These projects include Bitcoin Layer 2 expansion solution, Bitcoin on-chain games, developer services, etc.

Today’s UniSat goes from an open source wallet to an etching service, to a protocol contributor, to a developer service, to infrastructure providers, to now the implementer of Bitcoin scaling solutions. Has he done enough? In the development of the Bitcoin ecosystem, can what he did become an industry template? And what is Unisat’s real ambition?

Supporters of Bitcoin’s large blocks: accumulate inscriptions and create a

lot of money in the BSV ecosystem

Data shows that since its launch, more than 50% of the inscriptions have been created by UniSat Inscribe and more than 80% of the BRC-20 are traded on the UniSat market.

Unisat was an open source wallet for Bitcoin. It is well-known because of the popularity of inscriptions. It is widely used by users as a wallet, plus tools such as minting and trading. At that time, it was not only the Unisat who were doing similar things, but Unisat won the battle.

The core point is that the team itself has a lot of experience in developing large-scale Bitcoin blocks. This allowed them to iterate their products continuously and quickly respond to market demand at that time.

By counting what Unisat did in the first spring of the inscription, you can see that the team is keeping up with the market demand. Wallet and Inscribe were launched in February 2023, search features were launched in March, and market and rune support for products were optimized in April...

It is understood that Unisat's team members are fans of the Bitcoin block. They participated in the Bitcoin fork back then and have been involved in the development of BSV since then.

In the industry, a product that is directly facing user needs needs to bear huge pressure on the product technical level. In the first spring of the inscription, Unisat was able to stand out quickly because of the help of relatively long-term accumulation of relevant development experience. Accumulate your strength and seize the opportunity. The right time, place and people are indispensable. From this point of view Unisat is lucky.

After standing in the Bitcoin ecosystem, what Unisat needs to think about is actually how to survive for a long time, and even how to make the cake of the Bitcoin ecosystem bigger so that it can enjoy the dividends of this track for a long time. While making a big cake, another very important point is how to stabilize the position of "big brother"?

After sorting out what Unisat has done over the past year, you will find that Unisat's main task is still optimizing its original products, and constantly following up with the needs of users in line with the development of the Bitcoin ecosystem.

Several more important time nodes are as follows:

In October 2023, UniSat Wallet successfully launched its BRC-20-swap main network, which is an AMM-based Dex. The difference from other Dex is that it only conducts transactions of BRC-20 tokens. The BRC-20 exchange mainnet enables users to seamlessly exchange BRC-20 tokens on Bitcoin, instead of only trading in order book mode on a centralized third-party platform.

The greatest significance of brc20-swap for the Bitcoin ecosystem is to inject liquidity, allowing more money to flow in and more convenient transactions.

Based on this success, UniSat then launched the UniSat developer service. They hope to use a series of developer tools to help developers develop in the Bitcoin ecosystem and jointly make the cake bigger.

Unisat's influence in the industry has indeed grown a little bit. A very significant performance, in January 2024, UniSat proposed the "Jubilee" update of the BRC-20 protocol fork. The goal of this fork is to make BRC-20 work properly by changing the rules of the Ordinals protocol.

Unisat's insistence on following the Ordinals upgrade was opposed and criticized by BRC20 founder Domo. The criticism and struggle between the two is actually a battle to control the BRC-20 protocol.

In this matter, everyone has their own persistence, and in the end, the camp represented by Domo won, and Unisat gave up its upgrade plan. However, this debate triggered in the Bitcoin ecosystem also indicates that Unisat has a heavyweight influence in the ecosystem.

At the Brc-20 swap step, you can basically position Unisat in the Bitcoin ecosystem as Uniswap on Ethereum. Later, more details and even actions are also showing Unisat's ambitions, not just to be a trading tool for the Bitcoin ecosystem.

Unisat's ultimate ideal in the game

Unisat actually has three main development lines at present.

One is to provide products and services for the transactions of the Bitcoin ecosystem. The wallets, inscription markets and even the subsequent BRC-20swap are all in this line. It is also the foundation of its industry. The second line is Bitcoin layer 2, and the third line is the game.

In terms of the second layer, Unisat has made a Fractal, which uses the Pow consensus mechanism, and more than 50% of the tokens are produced by mining. The main network will be launched in September.

The difference between it and other Bitcoin layer 2 is that Fractal is currently the only native Bitcoin expansion solution, using Bitcoin Core's code, which is highly consistent with Bitcoin. For users, the experience of using this feature is as follows: the address format is the same as the main network address, and the original wallet, tools, and mining machines are used. This creates a more convenient way to use it.

Fractal actually built the foundation and a highway for more Unisat wanted to do. Unisat founder Lorenzo said in an interview with the media that there are three categories of applications related to Fractal: the first category is bridge, which is the application that helps assets flow between the Bitcoin main network and the Fractal main network. The second category is transaction- related, such as native Swap, DEX, NFT Marketplace, etc. The third category is those that have been suppressed on the first layer of Bitcoin due to the limited block size, such as DID applications, credentials applications, voting governance applications, etc., which are used to frequently participate and interact with a large number of users.

The third main line of Unisat's development is actually in this third type of application, and it is more segmented, that is the game.

UniWorlds is a Bitcoin chain game infrastructure provider invested by Unisat. Not only investing in the infrastructure of chain games, Unisat has also invested in several specific Bitcoin chain games, including chain games OrdzGames, the world's first GameFi+DePIN gaming device Bitboy, etc.

Unisat does Bitcoin chain games, which sounds like it has nothing to do with its previous business, and it seems that it is because Unisat wants to build a universe of Bitcoin ecosystem. But the more fundamental reason is that the game is the ultimate dream of founder Lorenzo.

Awakening Capital, who invested in Unisat, commented on Lorenzo: a typical technical otaku who was born in the game background before. Lorenzo once told Awakening Capital that his ultimate ideal in life is to make a game that 8 billion people around the world can play online at the same time, and only the Bitcoin network can support this dream.

Lorenzo's ultimate goal is still the game, which can understand why Unisat invests and incubates games.

By analyzing Unisat's business direction, we can also find that Unisat is catering to market demands, and the first two are even more at the forefront of the trend. By the time Swap was born, the storm of the Bitcoin ecosystem had actually slowed down a lot. When it came to building the second floor and making games, Unisat was not only limited to building roads and bridges, but also wanted to introduce massive traffic into the Bitcoin ecosystem. In Unisat's view, chain games and Bitcoin ecosystems may achieve each other.

To this day, as a bystander, we can clearly see the development context of Unisat's ambitions in the Bitcoin ecosystem and even understand its future. For the people of the Unisat team, it is achieved by their years of practical accumulation and belief in the large blocks of Bitcoin. For this reason, he missed the last bull market and also gained a harvest in this bull market.

Now that the Bitcoin ecosystem is sluggish, it is also a good time to do things steadily.