Paolo Ardoino said that if the future of Bitcoin ordinals will exist then surely crypto platforms will shift toward the Bitcoin lightning network.
Bitfinex subsidiary Tether is a stablecoin issuer firm and this company provides USDT stablecoin in the crypto market. Over several years, USDT has been standing in the crypto sector as a giant stablecoin token by market cap, obviously because of its first-mover advantage.
Recently Tether Chief Technology Officer (CTO) Paolo Ardoino talked about the new Crypto trend “Bitcoin ordinals & BRC-20”.
According to Tether CTO, if Bitcoin ordinals exist with strong use cases in the crypto sector then surely it will force all the crypto exchanges to adopt lightning network-enabled Bitcoin payments.
Last week, Binance also confirmed that network fees on Bitcoin blockchain is high & decided to bring lightning network BTC withdrawal.
Bitcoin ordinals & BRC-20
Bitcoin ordinals is a centralised system built parallel to the Bitcoin network and BRC-20 is a smart contract on Bitcoin ordinals.
People can create meme coins & mint Digital collectibles (NFTs) on the Bitcoin Ordinals. BRC-20 assigns the identity of each new token or NFT corresponding to 1 Satoshi. No one knows how much decentralised this technology is but people are rapidly using BRC-20 to mint huge numbers of useless meme tokens.
Just a few days ago, the Binance exchange confirmed that it will add support for Bitcoin ordinals. After that announcement, people’s activities surged rapidly across the Bitcoin ordinal protocols.
Read also: Cardano founder suggests using vote power against crypto haters politicians