Author: Ali Sherief 2023-05-07 17:22:23
Published on: 2023-05-07T17:22:23+00:00
The Bitcoin network is experiencing massive congestion due to high volumes of side projects such as BRC-20, which are pricing out real bitcoin transactions. This threatens the smooth and normal use of Bitcoin as a peer-to-peer digital currency. If the volume does not die down over the next few weeks, some suggest taking action, such as implementing BIPs and/or commits into the Bitcoin Core codebase to curtail the loophole in BIP 342 that has allowed these unintended consequences. Alternatively, enforcing "censorship" at the node level by introducing a run-time option to instantly prune all non-standard Taproot transactions could be implemented. Critics argue against limiting maximum freedom, but solutions must be found to ensure this kind of congestion never happens again using Taproot.
Updated on: 2023-06-16T18:15:37.108428+00:00