Bitcoin remains Web3's bedrock, its robust security and scarcity cementing its "digital gold" status. While its core function is sound money/store of value, innovation thrives on layers like Lightning Network for payments and emerging projects exploring DeFi and NFTs atop Bitcoin via protocols like Stacks and RSK, expanding its utility within the Web3 vision.
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Bitcoin ETFs (e.g., BlackRock’s IBIT) let investors gain exposure without direct ownership. Pros: Institutional adoption. Regulatory clarity. Cons: Defeats Bitcoin’s decentralization ethos. Fees and custodial risks.
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IPFS (InterPlanetary File System) replaces location-based addressing (HTTP) with content-based addressing—files stored across nodes, resistant to censorship. Filecoin incentivizes storage providers with crypto payments. Together, they underpin Web3’s data layer: NFT metadata, dApp frontends, and DAO documents. Alternatives include Arweave (permanent storage) and Storj. Centralized cloud storage (AWS) remains prevalent, but decentralization grows vital for resilience.
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