As Bitcoin network fees increase and congestion builds, the rise of BRC-20 tokens and Ordinals NFTs has sparked a debate within the crypto community: should Bitcoin limit or even ban these new technologies? The direction this discussion takes could significantly impact the future of Bitcoin.
On March 9, 2023, Domo, an anonymous on-chain analyst, announced on Twitter a theoretical concept of BRC-20, ERC-20-like tokens on the Ordinals protocol.
Things remained cool until early April when the number of Ordinals inscriptions skyrocketed, and Bitcoin network fees began surging exponentially. In May, the fees soared to a high of $30. This made BRC-20 tokens and Ordinals major discussion topics in the Bitcoin community. In particular, how to deal with the new technologies.
Devs and maxis calling for BRC-20 and Ordinals censorship
The question is whether BTC should censor or ban those new technologies within its network. Some experts believe that the Bitcoin network should do away with BRC-20 altogether.
One of the specialists involved in the recent raging debate is Ali Sherief, a Bitcoin developer. Ali Sherief began a series of posts about the situation on Bitcoin in early May.
Sherief made bold cl
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Author: Wayne Jones