The Bitcoin BRC-69 standard by the Luminex launchpad claims to be the revolutionary standard for creating recursive Ordinals. Can it reduce the cost of Bitcoin non-fungible tokens (NFTs) by 90%?

This year the Bitcoin Ordinals took the market by storm. In the simplest terms, it enables NFTs on the Bitcoin blockchain by inscribing data on the smallest unit of Bitcoin, i.e., Satoshis. But there were certain challenges of scalability and transaction fees on Bitcoin NFTs.

BRC-69, a New Standard For Recursive Ordinals

On Monday, the Bitcoin Ordinals launchpad, Luminex, introduced a new standard, BRC-69, that would allow the creation of recursive Ordinals. The recursive Ordinals enable the utilization of the existing on-chain data on the Bitcoin network for new inscriptions.

While inscriptions cannot communicate with the data on other sats, recursive inscriptions can request the content of other inscriptions and leverage it to render new NFTs. This feature would allow Bitcoin to overcome its 4 megabytes (MB) block size constraint.

A Twitter user, Leonidas, explained:

“Rather than inscribing 10,000 JPEG files for a PFP collection individually which would be quite expensive, you could inscribe the 200 traits from the collection and then make 10,000 more inscriptions that each use a small amount of code to request traits and programmatically render the image. The result is the same. The art is just stored on-chain in a much more efficient way which could have saved over a million dollars in transaction fees.”

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Author: Harsh Notariya

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