Bitcoin Core developers are considering getting rid of BRC-20 transactions, a type of smart contract that enables the creation and management of tokens on the Bitcoin network.
Bitcoin Developers Debate Block of BRC-20 Transactions
Bitcoin Core developers are considering getting rid of BRC-20 transactions, a type of smart contract that enables the creation and management of tokens on the Bitcoin network. The discussion around the elimination of BRC-20 transactions can be found on the Bitcoin Development Mailing List and comes as the Bitcoin network has been facing serious congestion issues related to the growing popularity of BRC-20 tokens and Ordinals Inscriptions more generally.
Some members of the Bitcoin community have expressed concern about the potential impact of eliminating BRC-20 transactions and others have questioned whether it would even be possible to implement in an appropriate manner. Critics of a potential ban argue that BRC-20 tokens could become an important part of the Bitcoin ecosystem, enabling gambling on meme tokens via the Bitcoin blockchain and improving long-term economics for miners. Moreover, BRC-20 tokens have gained popularity in a relatively short period of time, surpassing a collective market cap of $1 billion this week.
