JAN3 CEO Samson Mow thinks the hype around Bitcoin’s NFT counterpart and BRC-20 tokens will subside in just a few months.
After the emergence of the Ordinals project and the launch of support for BRC-20 standard tokens, the load on the blockchain of the first cryptocurrency increased significantly, which led to an increase in transaction fees.
This will be the reason for the decline in popularity of such tokens, according to Mou.
“Users pay a huge amount of commissions directly to the miners and it can’t be solved. Ordinals and BRC-20 will be gone in a few months, we are not talking about years,” said the CEO of JAN3.
Many in the cryptocurrency community believe that the emergence of Ordinals could increase bitcoin adoption, but Samson Maw sees it as useless noise that only creates problems for the first cryptocurrency network.
“It’s a short-term hype, a way to make money, like most things in other blockchains like Etherium and Solana.
The adoption of bitcoin will happen because of its use as a means of savings and exchange, not because of creating pictures and putting them on a blockchain,” Mow believes.
Earlier it was reported that fees on the Bitcoin network reached record highs and in some cases exceeded $10,000 per transaction.