SegWit discount<\/a>, which translates into a fourfold cost to mint.<\/p>\nThis means, says Mike, that Bitcoin Stamp transactions pay the market rate for block inclusion and are voluntarily included in blocks by miners.<\/p>\n
At a time when the Bitcoin security budget \u2013 consistently under fire for a diminishing block subsidy and, at least until the appearance of Ordinals, waning transaction fees \u2013 has been called into question, Stamps are also pushing for a more robust fee market.<\/p>\n
Community Reaction<\/h2>\n
Stamps, in contrast to Ordinals, have enjoyed less attention from the Bitcoin maximalist community.<\/p>\n
That said, voices \u2013 especially in the monetary maximalist camp \u2013 have expressed opposition. For them, Bitcoin\u2019s sole purpose is to provide neutral money for the world, and its blockchain shouldn\u2019t be used to store arbitrary data.<\/p>\n
Mike acknowledged that even some Bitcoin core developers are \u201canti-Stamps,\u201d but pointed out that SRC-20s are a formalization of the Counterparty protocol, which has existed for nearly a decade, and that these types of tokens constitute valid Bitcoin transactions.<\/p>\n
\u201cThose opposed to Bitcoin Stamps should do a better job of out-competing this use case, for block inclusion, if they don’t like it,\u201d he said, adding that the blockchain \u201cis meant to be used, and we are paying for that privilege with Stamps.\u201d<\/p>\n
Bitcoin Innovation<\/h2>\n
For years the Bitcoin blockchain has been attacked for being slow, expensive, and incapable of innovation. That\u2019s slowly changing.<\/p>\n
Stamps, along with Ordinals, are pushing the boundaries of what\u2019s been possible on the oldest network in the market, fostering a budding environment for developers, artists, and enthusiasts.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
While being four times more expensive to mint than Ordinals, SRC-20 tokens live on Bitcoin\u2019s UTXO set, making them unprunable. Move over Ordinals, a new token standard is in town. Born out of the decade-old Counterparty Protocol, known for Rare Pepes and other on-chain art, Bitcoin Stamps, also called SRC-20 tokens, are a new type […]<\/p>\n","protected":false},"author":2,"featured_media":240473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-240472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/240472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=240472"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/240472\/revisions"}],"predecessor-version":[{"id":240475,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/240472\/revisions\/240475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/240473"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=240472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=240472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=240472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}