Ethereum developers were present at the Bitcoin 2023 conference in Miami, which attracted a large number of cryptocurrency enthusiasts. The launch of the Bitcoin 2023 protocol earlier this year has led to an increase in innovation and experimentation, drawing many Web3 developers. At the conference, OrdinalSafe, a self-custodial bitcoin wallet with Ethereum roots, won second place in the infrastructure category of the "Pitch Day" event. The conference also featured a debate on whether ordinals, which have put pressure on bitcoin's network, could be considered an attack on bitcoin.
Bitcoin miners may turn to Maximum Extractable Value (MEV) to stay competitive and avoid centralization or censorship issues. MEV refers to the value that miners or validators can gain from changing the sequence of transactions in a block. While Ethereum developers have been addressing the negative aspects of MEV for years, this is a new challenge for Bitcoin. Developers with Ethereum backgrounds are using Ordinals, a new protocol, to gain a foothold in the Bitcoin community. Ordinals is still in its early stages, and its future is uncertain as more Web3 developers enter the Bitcoin space.