Recent innovations like Bitcoin Virtual Machine (SatoshiVM), Spiderchain, and BitVM have emerged with the goal of enhancing Bitcoin's capabilities.

Bitcoin's potential for mass adoption hinges on tapping into the $57 billion decentralised finance (DeFi) domain, as argued by developers behind Bitcoin’s layer-2 networks.

Despite Bitcoin's current roles as a currency, digital gold, and a host for digital artifacts via Bitcoin Ordinals, developers believe it has untapped potential for more significant use cases beyond peer-to-peer (P2P) payments.

The pseudonymous founder of Bitcoin Virtual Machine (BVM), known as “punk3700,” emphasised the importance of not limiting developers, as it could hinder creative exploration and overlook valuable applications.