Wed. Jul 17th, 2024

• Bitcoin Core Developer Luke Dashjr has called for an end to the Ordinals and BRC20 meme coin craze.
• The transactions congest the network, with a current average medium-priority fee of $13.46.
• Dashjr believes that Bitcoin NFTs and tokens are a spam attack and suggests bug fixing as a solution.

Bitcoin Core Developer Calls for End to Ordinals

One of the core developers of Bitcoin, Luke Dashjr has sent out a call to action to put an end to the Ordinals and BRC20 meme coin craze. Dashjr is one of the world’s most prolific Bitcoin developers and has been involved in the development of Bitcoin Core since 2011 (over 12 years) and probably one of the biggest critics of Ordinals.

Congested Network

Today, the Bitcoin blockchain continues to be congested. There are currently 414,000 transactions in the mempool waiting to be added to a block, with the average medium-priority transaction fee being $13.46. As Bitcoinist reported, Ordinals and BRC20 are the main reason for the state of the network, in part because they were coded extremely ineffectively.

Spam Attack

Dashjr considers the Bitcoin NFTs and tokens a spam attack. According to him, measures should have been taken “months ago,” as he writes in an email. He argues that “spam filtering has been a standard part of Bitcoin Core since day 1.” In addition, he says, a mistake was made in the software because existing filters were not extended to Taproot transactions which allowed NFTs/tokens on BTC blockchain via script without any limits or restrictions implemented on it as both updates increased data capacity within blocks on chain .

Bug Fix Solution?

But according to core developer Luke Dashjr , this issue can be fixed with bug fix . “We can address that , or try more narrow approach like OP_RETURN (i . e what “Ordirespector” does ) .” Since this is bug fix , it doesn’t really even need major release ,” says Dashjr who added “We already have pruning . It’s not alternative to spam filtering .”

Mixed Reactions

The email is currently being shared extensively in crypto community , with mixed reactions . Ethereum proponent Ryan argued against introducing any new features while some other believed that such features would be useful when appropriate countermeasures are taken against potential spam attacks .

By admin