- Domo, the creator of BRC-20, and UniSat, a well-known wallet service, are at odds over proposed upgrades to the BRC-20 protocol.
- The proposed fork aims to split BRC-20 into two versions: one embracing the new Ordinals Jubilee update and the other remaining on version 0.9.
- Promised enhancements include Multisig, atomic swaps, smart contract capabilities, and increased scalability through the fork.
- Domo expresses concern, labeling the fork as "reckless," fearing potential harm to the BRC20 ecosystem due to a rushed implementation.
- BRC-20 indexers are set to cast their votes on the fork proposal from January 15th to 31st, 2024, and if approved, the Jubilee update is scheduled for February 1st, 2024.
The inception of Bitcoin Ordinals and its subsequent sub-protocols has ignited a continuous stream of debates. These debates traditionally pitched pro-Ordinal advocates against those who disparagingly labeled them as "blockchain spam" throughout 2023.
However, a recent development has introduced friction within the Ordinals community. A clash emerged on Twitter between the creator of BRC20 and Unisat, escalating tensions over the future trajectory of the Ordinals Protocol.
To understand the backdrop, BRC-20 tokens stand as a monumental innovation in Bitcoin’s evolution, fostering fresh applications and use cases. As of the latest data, the collective market cap of BRC20 tokens stands at $3.6 billion, according to CoinMarketCap.
The BRC-20 token standard, conceived by "Domo" on Twitter in March 2023, drew inspiration from Casey Rodarmor’s Ordinals protocol unveiled in January 2023. Domo is also the brain behind BRC20 Indexer, a service tracking and validating BRC-20 transactions on the Bitcoin blockchain.
On the opposing side, UniSat, a prominent wallet service, champions BRC20 tokens, facilitating their generation, storage, and transfer. Yet, a recent announcement by UniSat Wallet on January 2, 2024, has stirred the waters.
UniSat proposed a fork in the BRC20 protocol, aiming to bifurcate it into two identical halves. The newer standard would entail significant improvements, such as multisig, atomic swaps, and smart contracts, fostering scalability while aligning with the BRC-20 community’s mission.
This fork would grant users the option to choose between versions of the wallet, ensuring no disruption to current BRC20 holdings. Despite the apparent appeal of these upgrades, Domo, the progenitor of the BRC-20 token standard, expressed disapproval.
In a comprehensive rebuttal to UniSat, Domo labeled the fork proposal as "reckless and irresponsible." He voiced concerns about potential confusion, fragmentation, and security risks for the BRC-20 ecosystem, especially highlighting uncertainties surrounding the Ordinals Jubilee update's efficacy.
Domo stressed the necessity for a thorough and certified testing phase to ensure a secure transition to the new update, advocating for more planning time within the BRC-20 community.
Presently, the BRC-20 community stands divided, with factions supporting UniSat Wallet’s proposition while others align with Domo’s reservations. The fate of the proposed fork lies in the hands of BRC-20 indexers, set to vote on the modifications.
The voting window spans from January 15, 2024, to January 31, 2024. If the fork proposal gains approval, the Ordinals Jubilee update will be unleashed on February 1, 2024, heralding its implementation.
A disclaimer: While Voice of Crypto aims for precision and timeliness in its information, it cannot be held accountable for missing facts or inaccuracies. Given the high volatility of cryptocurrencies, prudent research is advised for making informed financial decisions.
#BRC20 #Unisat #Ordinals #Crypto2024 #BinanceSquare