S11 E4 | Building on Bitcoin w/Brittany Laughlin (Stacks Foundation)

Diana Chen welcomes Brittany Laughlin, Chairperson at Stacks Foundation, to the Rehash podcast, highlighting her extensive experience in the Bitcoin ecosystem. Brittany shares her long history in crypto, including early investments and participation in Ethereum events. She discusses the recent "Bitcoin Renaissance" in 2023, marked by developments like ordinals, NFTs, and DeFi, which reflect trends from Ethereum. Brittany emphasizes Bitcoin's unique landscape for experimentation and the evolving narratives within the Bitcoin community, noting a shift from skepticism to real developments.

Brittany's background as an entrepreneur and venture capitalist informs her perspective on the growth of Web2 companies and the potential for blockchain technology to enable small companies to compete with larger incumbents. She expresses excitement about blockchain as a platform for innovation and competition, recalling her involvement in the crypto movement during the ICO boom in 2017 and her advisory role with projects like Blockstack. Brittany highlights Stacks' commitment to regulatory compliance and ethical practices, advocating for democratizing access to technology in line with Bitcoin's ethos.

The conversation explores the evolution of the Bitcoin builder ecosystem, particularly following the 2021 upgrade that increased block data limits, enabling the creation of Ordinals. This upgrade has elicited mixed reactions within the community, with some viewing increased transaction fees positively for miner revenue, while others express concerns about congestion. Stacks operates as a Layer 2 solution on top of Bitcoin, allowing transactions to settle on the Bitcoin chain, and offers unique yield opportunities for holders.

Brittany discusses the dynamics within the Bitcoin community, including the presence of Bitcoin maximalists and a growing interest in improving Bitcoin's longevity through increased transaction volume. She notes excitement among long-term advocates regarding Bitcoin's potential for diverse applications, including lending and borrowing, with emerging projects facilitating DeFi activities. The Lightning Network is recognized as a key application for small payments, while new applications like Ordinals and Runes are gaining traction.

The conversation highlights Bitcoin's potential in borrowing and lending, suggesting it may surpass Ethereum in these areas. Brittany points out the growing institutional interest in Bitcoin as a hedge and future asset, while also noting the need for better tools and access for sophisticated Bitcoin holders. She raises concerns about user security and the challenge of maintaining self-custody of keys, questioning whether the Bitcoin community shares the same onboarding goals as the Ethereum community.

Brittany expresses a desire for better interoperability between ecosystems, identifying a lack of awareness about building on Bitcoin as a barrier to development. She emphasizes the potential of the Stacks network for faster and cheaper transactions and mentions the use of Clarity as a programming language for developers. Looking ahead, she predicts significant inflows of developers into Bitcoin, hoping to see Bitcoin builders rank higher in developer numbers.

The discussion also covers the challenges of launching projects and tokens, emphasizing the importance of proper planning to avoid common mistakes related to legal and compliance issues. Brittany shares insights into grants programs, highlighting the complexities involved in creating effective programs and the need for ongoing community support and marketing strategies. She clarifies misconceptions about Stacks, emphasizing its distinct nature from Bitcoin while showcasing improvements in transaction speed and fees.

Brittany expresses enthusiasm for the growing demand for Bitcoin and actionable steps for developers and users, including engagement with NFTs. She offers resources for those interested in Stacks and expresses her willingness to assist newcomers. The episode concludes with a call for engagement with the Rehash community.