WhaleWire stated in a tweet that Bitcoin developers are having code discussions about Ordinals and BRC-20 tokens ahead of fears of a BTC crash as the May meme craze becomes too intense.

Ordinals’ place in the Bitcoin ecosystem still divides the Bitcoin community. Advocates like Dan Held propose that it offers more monetary use cases on Bitcoin. Others, on the other hand, contend that it is departing from Satoshi Nakamoto’s concept of Bitcoin as a peer-to-peer cash and payment system. However, for the time being, the expansion of this trend poses more threats than opportunities.

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Thanks to the Inscription mechanism and the Ordinals protocol, a token known as the BRC-20 (Bitcoin Request for Comment 20) was created on the Bitcoin blockchain. This procedure was made by an unknown Twitter investigator named @domodata on 8/3/2023. This BRC-20 token was made standard by combining the text in the JSON data format with the Ordinals mechanism.

They stuck the Bitcoin organization and pushed it to its functional cutoff points, testing how the world’s first and biggest blockchain can adapt to the quickly extending request. Some users and exchanges have begun to consider alternative options as the cost of depositing funds continues to rise and transactions take longer to complete. This includes the Lightning network, a “layer 2” scaling solution made to speed up and lower the cost of Bitcoin transactions.

When the Bitcoin network’s gas fees skyrocketed in response to an increase in transaction activity, many Bitcoiners became frustrated. The typical charge, which is set progressively under a cutthroat offering process, rose to a faltering $30.19 for a basic Bitcoin exchange on May 10, in the wake of floating around $2 for very nearly a long time from July 2021. The bidding fee can sometimes reach up to $500 USD.