Feud erupts over memecoins swarming bitcoin blockchain
maintain bitcoin’s blockchain are clashing over whether to stamp out the memecoins swarming the network.
“I do think the system is being abused,” said bitcoin developer Ali Sherief. “Bitcoin was never intended to serve as a base layer for meme tokens.” Developer Casey Rodarmor created Ordinals to enable users to inscribe digital content like videos, images and text on satoshis, the smallest unit of bitcoin. There are 100 million satoshis in one bitcoin.Rodarmor’s innovation took off this year and was seized on by pseudonymous blockchain analyst Domo to develop the Bitcoin Request for Comment — or BRC-20 — standard, which led to the explosion of memecoins.
As a result, viewing the memecoins as a denial-of-service attack is “like saying any form of auction is a denial of service, and whoever wins is denying all of the losers of the auction”, Lopp said. For veteran bitcoin developer Luke Dashjr, Ordinals transactions are like spam and should be kept off bitcoin’s blockchain. He’s even created a program, Ordisrespector, to enable computer nodes on the network to do that.
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Feud erupts over memecoins swarming bitcoin blockchain - TechCentralThe coders who maintain bitcoin’s blockchain are clashing over whether to stamp out the memecoins swarming the network.
Read more »