Vitalik Buterin Lauds Bitcoin Ordinals, Believes BRC-20 Standard Could Revive Stagnancy

Bitcoin maximalists have proved to be highly staunch supporters of the crypto asset. For more than a decade, they have stayed as a united front, but the advent of Ordinals shook up the long-standing narrative. 2023 will be known for many things, one of them being – the Bitcoin community’s split into two warring factions.

The first cohort are Ordinals skeptics and supporters of “staying true” to Bitcoin – using the asset purely to process transactions. The second cohort is Ordinals fans. Both groups have compelling arguments to back up their case, but Vitalik Buterin believes Bitcoin Ordinals’ booming popularity has helped revive the developers of the network.

The Ordinals protocol enabled NFTs on the Bitcoin network. Until then, Ethereum dominated the NFT scene. Hence, it can be said that Ordinals played a crucial role in changing the dynamic by bringing NFT creators from Ethereum to Bitcoin. This influx of new developers triggered the transaction fees on the network to soar.

Buterin, however, lauded the BRC-20 token standard and said its increasing prominence signals an outright abandonment of “stagnant” politics that he believes to be plaguing the Bitcoin ecosystem.

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