would offer a better use case for Ordinals as it offered an extension of the restricted minting limit. In addition, these Inscriptions help with extracting data from other Inscriptions by reviewing interlacing blocks.But Luminex pointed out that the use case could go beyond that. And the challenge with block clogging on the network due to the higher demand could be fixed with a new BRC-69 standard.
“In order to continue encouraging creators to launch their innovative ideas on the Bitcoin blockchain, we must optimize the current standard for launching Image Ordinals Collections.”token standard, the launchpad noted that BRC-69 would not deal with fungibility. Instead, BRC-69 would aim to achieve 90% block space optimization through four processes.
According to the proposal, the first step would involve inscriptions of the images on-chain. Then, the next process would be to deploy the BRC-69 collection. Thereafter, the token standard would be compiled. At this point, the Recursive Inscription would point back to the initial deployment to ultimately render the asset.
The final stage would be the mint operation where indexes of the traits would point back to the compilation while Recursive Inscriptions automatically inscribe the data on-chain while cost reduces.Meanwhile, daily transactions on the Bitcoin network have significantly reduced from the highs recorded in May. For BRC-20 tokens, the hype that led to a $1 billion market cap has retraced to an uninspiring $159.
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