Core

Wednesday

Bitcoin

ORDI

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<ul>
 <li>Luke Dashjr stated on Wednesday that ‘Inscriptions’ exploit a vulnerability in Bitcoin Core, sending spam to the blockchain and causing network congestion.</li>
 <li>Bitcoin core developer Luke Dashjr, on December 6, announced an attempt by developers to remove Bitcoin imprints before the v27 update next year, potentially putting an end to Ordinals and BRC-20.</li>
 <li>Decision to terminate Ordinals and BRC-20 faced criticism from the community due to concerns about miners losing income.</li>
</ul>
<p><strong>Bitcoin core developer Luke Dashjr discussed issues with the network, stating that BRC-20 and Ordinals might soon disappear.</strong></p>
<h2 id="strong-core-developer-discusses-brc-20-and-ordinals-strong"><strong>Core Developer Discusses BRC-20 and Ordinals</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126548" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-50.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>On Wednesday, Bitcoin core developer Luke Dashjr mentioned that ‘Inscriptions’ exploit a vulnerability in Bitcoin Core, causing network congestion by sending spam to the blockchain. If the vulnerability is fixed before the release of version v27 next year, Ordinals and BRC-20 will be eliminated. Users and miners of Ordinals and BRC-20 are criticizing Bitcoin developers for their decision. Traders reacted immediately, and the price of ORDI dropped by 15% within an hour.</p>
<p>Bitcoin core developer Luke Dashjr, on December 6, announced an attempt by developers to remove Bitcoin imprints before the v27 update next year. This means that Ordinals and BRC-20 will no longer exist.</p>
<p>Luke Dashjr explains that Bitcoin Core has allowed users to limit the additional data size in transactions through the ‘-datacarriersize’ setting since 2013. However, Imprints have managed to bypass this limitation by concealing their data as program code.</p>
<p>Dashjr added, “This bug was fixed recently in Bitcoin Knots v25.1. Due to a significant disruption in my workflow at the end of last year (v24 was completely skipped), it took longer than usual.”</p>
<p>Bitcoin Core is still vulnerable in the upcoming v26 release. A solution is hoped to be found before the release of v27 next year after an increase in pending transactions due to network congestion. Currently, there are over 250,000 pending transactions on the network.</p>
<h2 id="strong-crypto-community-reacts-strong"><strong>Crypto Community Reacts</strong></h2>
<p>The decision to end the existence of Ordinals and BRC-20 faced criticism from the community, mainly due to concerns about miners losing income. The introduction of Bitcoin ordinals and BRC-20 led to increased profits for miners.</p>
<p>Shenyu, co-founder of f2pool, said, “Bitcoin is not Ethereum, and developers don’t have absolute decision-making power.” Luke Dashjr stated that entities running Bitcoin nodes approve financial transactions. Many who are forced to approve inscriptions complained because it is considered spam. Data size usage affects the Bitcoin blockchain, despite various attempts by developers to solve this issue.</p>
<p>Upbit recently reported withdrawal delays for BTC on the exchange due to congestion on the Bitcoin network. Following the news, the price of ORDI dropped by 15%, trading at $51.89 from the 24-hour price of $65.19. The trading volume increased by 25% in the last 24 hours.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/bitcoin-core-developer-says-bitcoin-ordinals-and-brc-20-will-end/">Bitcoin Core Developer Says Bitcoin Ordinals and BRC-20 Will End!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Bitcoin Core Developer Says Bitcoin Ordinals and BRC-20 Will End!

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