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Bitcoin BRC-20 standard faces debate over UniSat Wallet’s proposed split

Bitcoin

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TL;DR

  • Domo opposes UniSat’s BRC-20 split due to rushed updates.
  • UniSat plans to split BRC-20 assets but stay on the same blockchain.
  • BRC-20 tokens are popular, and a debate on their future continues.

On January 2nd, prominent X (formerly Twitter) user Domo, the creator of the Bitcoin BRC-20 token standard, expressed strong opposition to an upcoming fork proposed by UniSat Wallet. This move has ignited a debate within the cryptocurrency community, with Domo raising concerns about the rushed updates to the BRC-20 standard and their potential impact on users.

In a statement on social media, Domo voiced his reservations about the proposed changes to the BRC-20 standard. He characterized the updates as reckless and criticized the lack of consideration for peer indexers. Domo’s primary concern revolves around the potential harm these updates could pose to the broader community of BRC-20 users.

Additionally, Domo pointed out recent bugs related to the Ordinals 0.8 and 0.9 updates, highlighting the growing complexity of integrating new features into the BRC-20 standard. He argued that these changes should not be implemented without robust testing, coordination, and validation infrastructure.

Moreover, Domo made a striking allegation, suggesting that UniSat’s fork proposal might be part of an ongoing strategy to gain control of the BRC-20 protocol.

UniSat Wallet clarifies its proposal

In response to Domo’s criticism, UniSat Wallet clarified that its proposed action was not a fork but a split. The split aims to separate BRC-20 version 0.9 assets from the upcoming Ordinals Jubilee upgrade, creating two sets of assets with different rules while still residing on the same physical blockchain.

UniSat developers assured the community that they would follow the Ordinals Jubilee upgrade closely to confirm that BRC-20 remained on Ordinals without splitting into an isolated protocol. Furthermore, they teased the release of a new white paper detailing protocol enhancements on January 31st, shedding light on their plans for the future.

The significance of BRC-20 tokens and Bitcoin Ordinals

BRC-20 tokens have garnered immense popularity as a groundbreaking technological development within the Bitcoin ecosystem. The foundation of this innovation lies in the Bitcoin Ordinals system, which assigns a unique number to each satoshi, the smallest unit of Bitcoin. This numbering system enables precise tracking and transfer of assets on the Bitcoin blockchain.

Coupled with the inscription process, which adds a data layer to each satoshi, users can create unique digital assets on the Bitcoin blockchain. This novel approach has opened up new possibilities in cryptocurrency, attracting considerable attention from investors and developers alike.

It’s important to note that developer Casey Rodarmor introduced the Bitcoin Ordinals system in January 2023. This system served as the inspiration for the subsequent creation of the BRC-20 token standard by Domo in March 2023. BRC-20 tokens collectively boast a remarkable market capitalization of $1.76 billion.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Ibrahim Abdulaziz

A fervent advocate, Ibrahim shares his wealth of knowledge on crypto and blockchain technology in an engaging and informative style. He frequents places where influencers gather for his next scoop. His vision is that the decentralized nature, security features, and potential for financial inclusion will drive widespread massive crypto adoption.

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