Are Ordinals Are Ordinals boosting Bitcoin adoption, or 'breaking' the network? We talked about it in our latest interview with Excellion !
The latest hype around Bitcoin Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to JAN3 CEO Samson Mow.
“These guys are basically paying massive amounts of fees that go directly to Bitcoin miners, and there is no way this can be sustained," Mow said in an exclusive interview with Cointelegraph.Growing activity around Ordinals and BRC-20 – a crypto technology that allows users to mint fungible and non-fungible tokens on the Bitcoin blockchain – is the main cause provoking a spike in transaction fees, which resulted in the congestion of the Bitcoin network.
"These are just short-term money grabs similar to most things on competing chains like Ethereum and Solana," he pointed out. To Mow, mass adoption of Bitcoin will happen because of its use case as a saving technology and as a means of exchange, not because of “people minting JPEGs and sticking them in the chain.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Among Bitcoin Developers, Debate Is Raging Over Whether to Censor Ordinals BRC-20sBitcoin developers Ali Sherief and michaelfolkson have debated what to do about the BRC-20 minting madness started by domodata. FrederickMunawa reports.
Read more »
Bitcoin congestion: Are ordinals breaking BTC?Are ordinals breaking BTC? PigniGiovanni and Samson Mow (Excellion) discuss the latest bout of congestion on the Bitcoin network and the impact of ordinals and BRC-20 tokens on the blockchain. Full interview:
Read more »
Musk’s Milady Meme, Opening Up OrdinalsThis week, leading cryptocurrency exchange Binance announced that it would soon add support for Bitcoin NFTs in its marketplace. Meanwhile, Miladys saw some love from the Dogefather himself, ElonMusk. CoinDesk covers it all in this week's Airdrop:
Read more »
Is Elon Musk leaving Twitter? What we know'Excited to announce that I've hired a new CEO for X/Twitter,' the CEO tweeted.
Read more »
Bitcoin Developers Debate Block of BRC-20 Transactions | CoinMarketCapCryptoNews: Bitcoin Core developers are considering getting rid of BRC20 transactions, a type of smart contract that enables the creation and management of tokens on the Bitcoin network. 🧐
Read more »
Believe CEO Denies Company Is Trying to Grab Market Share in RussiaDenis Ladegaillerie says Believe is “not looking at building or growing” in Russia despite revenue from Russia and Ukraine rising 9.9% in 2022.
Read more »