Wed. Sep 27th, 2023

In an increasingly digital world, Bitcoin continues to be a key reference in the field of cryptocurrencies. In this context, luminex, a launch pad for Bitcoin Ordinals, has recently introduced a modified version of the BRC-20 token standard, known as BRC-69. This new implementation promises a significant reduction in minting costs and has aroused great interest in the crypto community. In this article, we will explore in detail the BRC-69 tokenstheir role and how they can benefit users.

What are BRC-69 Tokens?

The BRC-69 tokens they are an improved version of the BRC-20 token standard, designed specifically for the Bitcoin Ordinals network. These tokens offer an innovative solution to reduce minting costs associated with Bitcoin transactions.

Benefits and features

The main advantage of BRC-69 tokens lies in its ability to reduce minting costs by 90%. This is achieved through the use of recursive inscriptions, which allows only one line of text to be inscribed on the blockchain instead of an entire image. Doing so creates substantial fee savings for minters, which becomes especially relevant at a time when transaction fees are constantly rising. In addition, the BRC-69 standard offers new functionalities. For example, it allows the launch of collections without revealing tokens beforehand, giving more flexibility to token creators. It also makes it easier to schedule on-chain disclosures, giving you greater control over the distribution and exposure of digital assets.

The Rise of Ordinals and BRC-69 Tokens

The launch of the BRC-69 tokens It comes at a time when Bitcoin-based Ordinals have experienced significant growth. Ordinals are digital assets that use an enrollment method similar to NFTs (Non-Fungible Tokens), which has allowed the creation of fungible BRC-20 tokens and led to the trading of memecoins on the Bitcoin network. According to CoinGecko, BRC-20 tokens currently represent a market capitalization of $262 million, demonstrating the interest and trust that investors have placed in this ecosystem. Although this number is down from its peak of nearly $1 billion in May, the sector still generates $20.7 million in daily trades, indicating its relevance in the market.

Prospects and future

With the implementation of the BRC-69 tokens, Luminex hopes to further encourage the growth of Ordinals on the Bitcoin network. Reducing minting costs will allow users to maintain and increase their participation in this ever-expanding ecosystem. By optimizing the resources in the blockchain, the BRC-69 tokens they offer an efficient and profitable solution for the creation and transaction of digital assets in Bitcoin. The launch of the BRC-69 Tokens has generated positive expectations within the crypto community. Their ability to reduce minting costs, combined with the new functionality they offer, makes them an attractive option for Bitcoin users.

By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.