The Result of this Discovery?
Since BRC-20 was discovered, it has brought in a lot of users who want to use it to create crypto meme tokens. The growth of the BRC-20 is just like that of Bitcoin mining, with many people trying it out.
Within the past 24 hours, more than 23,926 BRC-20 ordinal inscriptions have happened, and more is yet to come. Leonidas.og (@LeonidasNFT), while speaking on Twitter, said, "It only took 6 weeks for people to figure out how to use ordinals to make fungible meme coins. At this point, nothing surprises me."
Since the discovery of Bitcoin Request for Comment (BRC-20), many users have created their own tokens. Domo was the first to create a crypto meme token with the tech, and he named it Domo Ordi. Since the creation of Domo Ordi, there have been subsequent creations of other crypto meme tokens such as Doge, Pepe, and even the word Meme itself.
According to Dune, most inscriptions since the implementation of BRC-20 were mostly text-based. Over 385,000 total inscriptions have been made via Ordinals to date, but a vast majority of them were made just within the past six weeks. Pseudonymous NFT historian Leonidas said text-based inscriptions were more popular because they come in smaller file sizes.
"This fits into a larger trend of text-based inscriptions becoming more popular due to their small file sizes, which can be as low as a few bytes. Because you pay fees proportionate to the file size being inscribed, it costs significantly less in fees to inscribe JSON [code] or text," Leonidas said while speaking to Decrypt.
