- The hype surrounding BRC-20 assets and Ordinals has led to unprecedented problems like network congestion for Bitcoin.
- Lightning Network has developed a solution that addresses Bitcoin’s scalability problems.
- Taproot Assets v0.2 looks to take BRC-20 assets and Ordinals off-chain.
The recent rise in popularity of BRC-20 assets and Ordinals has brought both challenges and opportunities for Bitcoin. Although these protocols have completely changed how people interact and use Bitcoin, the immense hype surrounding it has led to a formidable obstacle for the network to overcome – network congestion.
On the one hand, Bitcoin’s mempool is flooding with hundreds of thousands of unconfirmed transactions awaiting processing. On the other hand, Ordinals have skyrocketed, registering a whopping seven million total inscriptions. As Ordinals and BRC-20 tokens show no signs of slowing down, the network grapples…
