Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: coingabbarmarket on September 27, 2023, 02:22:46 PM
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Bitcoin Ordinals inventor to offer option of BRC-20 token
The inventors of Bitcoin Ordinals are proposing a new Bitcoin-based fungible token protocol as a possible alternative to the BRC-20 token standard. The BRC-20 standard was launched in March by Domo, an anonymous developer. BRC-20's market cap reached $1 Billion within 2 months of launch, with PEPE and ORDI being among the most creative BRC-20 tokens built on Bitcoin. Let us tell you that Bitcoin ordinals on BRC-20 enable the minting and transfer of token tokens through the protocol. But Rodarmor on BRC-20 makes his argument that the problem with BRC-20 tokens is that these tokens spam Bitcoin with Junk Unspent Transaction Output or UTXO. With the proposed option, Runes aims to address this issue by offering a UTXO based protocol. Which will help encourage responsible UTXO management while fitting naturally into Bitcoin. At the same time, it should be able to reduce losses compared to existing protocols.