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Bitcoin Ordinals Daily Inscriptions Surge Due to ‘BRC-20 Tokens’

Bitcoin Ordinals have reached a new daily all-time high of 58,179 inscriptions, due to the recent creation of "Bitcoin Request for Comment" (BRC-20) tokens on the Ordinals protocol by a pseudonymous on-chain analyst named Domo in early March. The surge is believed to be driven by the recent creation of BRC-20 tokens, which utilize Ordinal inscriptions to deploy token contracts, mint tokens, and transfer tokens, similar to Ethereum’s ERC-20 token standard. The arrival of Ordinals and BRC-20 tokens on Bitcoin were enabled by the Taproot soft fork, which took effect on Nov. 14, 2021. Members of the Bitcoin community are still split on whether Ordinals is a good fit for the Bitcoin ecosystem. (cointelegraph)

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