Degen on Bitcoin – Difficult to miss the phenomenon Ordinals in the community Bitcoin (BTC). Even those who would like to ignore it are obliged to watch transaction fees explode on the blockchain network, following the appearance of this new protocol. In addition to non-fungible tokens (NFT), here comes a plethora of shitcoin tokens also arrives on the network created by Satoshi Nakamoto.
Already 124 million dollars worth of BRC20 tokens
The emergence of the digital token standard ERC20 on the blockchain network Ethereum (ETH) led to the appearance of tens of thousands of tokens as diverse as they are varied, the vast majority of which turn out to be totally useless.
If the Ordinals protocol facilitated the creation of NFT on the network Bitcoin as a first step, a new token standard has also appeared there: the BRC20. And these tokens know a certain hype. As we can see more precisely on ordspace.org, it would already exist in the 11,650 BRC20 tokens at the time of this writing.
Much more surprising, these tokens built using Ordinals would have already managed to gain some value. There total recovery of these digital tokens would already be $124 million. This wave of creation of NFTs/tokens on Bitcoin causes a delay of more than 220,000 unconfirmed transactions in the mempool of the network.
>> You don’t trust the platforms to keep your cryptos? Ledger has the solution (commercial link) <<
With Ordinals, creating tokens on Bitcoin becomes (too?) easy
As it seems the logos of the most valued BRC20 tokens, we have the clear impression that the majority of them are projects that bet everything on… their logoexactly – or on a even.
And if these tokens are so numerous to land on Bitcoin, it is because they are very easy to create if we manage to write a few lines of code. The Twitter user under the pseudonym of Grittoshi thus created, by way of example, the very serious (no, not really) BRC20 version of the Moulacoinwith a total of “210 million Moula” (MLCN). All this, moreover, for barely more than BTC transaction fees “of a classic transaction”.
Since arriving in the small world of Bitcoin, the Ordinals protocol has caused mixed reactions within the community. But if some are very circumspect in the face of all this, a real buzz seems to have been created on the theme: why Ethereum would be the only network with NFT / tokens degen ?
To keep your cryptos, nothing beats a Ledger wallet. The Nano S and Nano X provide security and ease of use. Indeed, they are compatible with the vast majority of cryptos and networks. They are an absolutely essential alternative to all exchanges that offer to hold your assets for you. Remember, “Not your keys, not your coins” (commercial link)!