Tether CTO Paolo Ardoino responded to the BRC-20 and Ordinals stream, saying that if such a feature exists, users are entitled to use it and exchanges should speed up the implementation of the Lightning Network to avoid high transaction fees.
Tether CTO Says Exchanges Are Late for Lightning Integration in Bitcoin
Ardoino expressed his thoughts in his statement as follows:
“Actually, the concept of BRC and Ordinals does not affect security. Frankly, the problem we're having these days is that fees are rising for all Bitcoin users: anyone who has to make 'normal' transactions and payments find themselves facing increased transaction costs. This is absolutely annoying if you have to make a payment.
But from my point of view, we cannot control the use of Bitcoin or be a guarantor of what is good and what is bad. If a feature exists, it is users' right to use it.
Bitcoin will always remain secure – it's the most secure solution we have – and it's still scalable thanks to solutions like the Lighting Network.
What's happening these days shows that many exchanges have slept through four years not implementing scalability solutions. Because they did not do this, they had to temporarily shut down the ability to trade in BTC to cope with this staggering increase in transaction costs.”
Ardoino also said that it is too early to talk about the positive or negative impact of this for MiCA, the law that will regulate cryptocurrencies in Europe.
BRC-20 is an exchangeable token standard built specifically for the Bitcoin blockchain. These tokens can be linked to satoshis and then exchanged or converted, just like any other token.
*Not investment advice.
