The application of a token-generation model initially developed for Bitcoin, which inherently lacks token support, has been extended to additional blockchains that are compatible with tokens. This expansion has resulted in the emergence of BRC-20 tokens, such as the ORDI token, which has achieved a market capitalization of $1 billion. This method, referred to as inscriptions, is gaining traction across a variety of blockchains, igniting discussions about its effects on blockchain data and functionality. Despite some assertions of advantages, including reduced transaction fees and broader participation in token mining, its actual impact is under scrutiny. The trend's growing popularity may be attributed to its novelty and the speculative interest it generates, as some suggest.
https://www.theblock.co/post/266272/brc-20-style-tokens-are-spreading-to-chains-beyond-bitcoin-but-why
geeknik
npub1fk…gc5sk
2023-12-06 17:36:12
Author Public Key
npub1fk8rya2ra7lp8m60f8jrjg4yqfv2cc8dah8wqc49drccs3dqngzqtgc5skPublished at
2023-12-06 17:36:12Event JSON
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"content": "The application of a token-generation model initially developed for Bitcoin, which inherently lacks token support, has been extended to additional blockchains that are compatible with tokens. This expansion has resulted in the emergence of BRC-20 tokens, such as the ORDI token, which has achieved a market capitalization of $1 billion. This method, referred to as inscriptions, is gaining traction across a variety of blockchains, igniting discussions about its effects on blockchain data and functionality. Despite some assertions of advantages, including reduced transaction fees and broader participation in token mining, its actual impact is under scrutiny. The trend's growing popularity may be attributed to its novelty and the speculative interest it generates, as some suggest.\n\nhttps://www.theblock.co/post/266272/brc-20-style-tokens-are-spreading-to-chains-beyond-bitcoin-but-why",
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