BRC-69
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#Bitcoin Ordinals plan to take the cost burden off with this new standard
Recursive Inscriptions' launch of #BRC-69 might lower the price of Bitcoin Ordinals.
As the number of Inscriptions coined approaches 15 million, the market cap of #BRC-20 keeps decreasing.
According to Luminex's #GitHub page, the proposal to lower the cost of producing Bitcoin Ordinals Inscriptions may soon succeed. Recursive Inscriptions, according to Luminex, may be essential to attaining this objective as a launchpad for Bitcoin #Ordinals.
Recursive Inscriptions' launch of #BRC-69 might lower the price of Bitcoin Ordinals.
As the number of Inscriptions coined approaches 15 million, the market cap of #BRC-20 keeps decreasing.
According to Luminex's #GitHub page, the proposal to lower the cost of producing Bitcoin Ordinals Inscriptions may soon succeed. Recursive Inscriptions, according to Luminex, may be essential to attaining this objective as a launchpad for Bitcoin #Ordinals.
BRC-69 may become the new hot spot for BTC
#BTC Ordinals is a method of generating non-fungible tokens (NFTs) through a process called inscription, which first appeared in January, bringing NFT and smart contract narratives to the Bitcoin blockchain.
And it has sparked investors' interest in tokens such as #STX , the native token of the Bitcoin layer 2 Stacks network.
Since Luminex launched the Ordinals activation board and announced the #BRC-69 token standard on July 3, daily counts have soared by more than 250%. A modified version of the BRC-20 standard has been released to reduce Ordinals' inscription costs by over 90%.
"With BRC-69, we can reduce the inscription cost of the Ordinals collection by more than 90%. This reduction is achieved through a four-step process: (1) inscription features, (2) deployment of collections, (3) compilation of collections, and (4) casting assets," Luminex tweeted.
"The advantage of BRC-69 is its simplicity. The minter only needs to write one line of text instead of a complete image. This text allows the final image to be automatically rendered at all #Ordinals fronts using only on-chain resources, thanks to recursive inscription," Luminex added.
So far, BRC-69 seems to have delivered on its promises.
And it has sparked investors' interest in tokens such as #STX , the native token of the Bitcoin layer 2 Stacks network.
Since Luminex launched the Ordinals activation board and announced the #BRC-69 token standard on July 3, daily counts have soared by more than 250%. A modified version of the BRC-20 standard has been released to reduce Ordinals' inscription costs by over 90%.
"With BRC-69, we can reduce the inscription cost of the Ordinals collection by more than 90%. This reduction is achieved through a four-step process: (1) inscription features, (2) deployment of collections, (3) compilation of collections, and (4) casting assets," Luminex tweeted.
"The advantage of BRC-69 is its simplicity. The minter only needs to write one line of text instead of a complete image. This text allows the final image to be automatically rendered at all #Ordinals fronts using only on-chain resources, thanks to recursive inscription," Luminex added.
So far, BRC-69 seems to have delivered on its promises.
A modified version of the #BRC-20 token standard has been made available by Luminex, a platform for #Bitcoin Ordinals, with the claim of a 90% reduction in minting costs.
As transaction costs rise, Luminex believes that lowering minting costs will support the further growth of #Ordinals on the network. According to #Luminex, their new recursive #BRC-69 token standard just requires a single line of text to be scribed to the blockchain, as opposed to an entire image, which results in significant fee savings for minters.
As transaction costs rise, Luminex believes that lowering minting costs will support the further growth of #Ordinals on the network. According to #Luminex, their new recursive #BRC-69 token standard just requires a single line of text to be scribed to the blockchain, as opposed to an entire image, which results in significant fee savings for minters.
