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UniSat Wallet embraces Ordinals Jubilee upgrade as BRC-20 token community faces strategic split.
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
UniSat Wallet recently confirmed its alignment with the upcoming Ordinals Jubilee upgrade amid a broader discussion about the evolution and governance of the BRC-20 token standard, which operates on the Ordinals Protocol.
UniSat Wallet, known for its role in the Ordinals marketplace, announced plans to adhere to the Ordinals Jubilee upgrade, ensuring that the BRC-20 tokens remain integrated within the Ordinals system. This move aligns with the broader strategy of maintaining protocol consistency without diverging into an isolated framework.
UniSat also teased the release of a significant whitepaper slated for Jan. 31, 2024, promising substantial advancements for BRC-20, Ordinals, Bitcoin, and its community. Jubilee will take place at block height 824,544. As of press time, Bitcoin is 362 blocks behind at block 824,182, meaning the block height should be reached this week.
In contrast, Domo, the pseudonymous creator of the BRC-20 token standard, expressed concerns over these updates’ haste and potential repercussions. Domo highlighted the complexities and risks of integrating new updates into the BRC-20 standard, referencing the challenges faced during versions 0.8 and 0.9. Emphasizing the need for robust testing and coordination, Domo cautioned against the rush to implement protocol enhancements, suggesting they might not be safe without a comprehensive validation infrastructure.
Domo’s apprehensions extend to the broader strategic implications of UniSat’s actions, hinting at an alleged ongoing effort to gain control over the protocol. This perspective is reportedly shared by Layer 1 Foundation, a non-profit foundation committed to keeping the BRC-20 standard free from centralized corporate influence.
Layer 1 Foundation maintains an indexer focused on safeguarding funds within BRC-20 assets. The foundation and Domo urge the BRC-20 community to reject Unisat’s proposed fork and support a non-profit, safety-oriented approach to the protocol’s maintenance.
It is important to note that The Jubilee is not necessarily considered a ‘fork’ by all parties but rather a “split.” This distinction is important because a fork typically implies a divergence in the blockchain, creating two separate chains that do not interact with each other.
In contrast, a split, as described in the context of the Jubilee upgrade, refers to different sets of rules coexisting on the same blockchain. In this case, one set of rules would be for BRC-20 tokens that remain at version 0.9, and the other set would follow the Ordinals Jubilee upgrade. Both sets would still reside on the same physical blockchain, intertwined with each other.
The Jubilee proposed update to the Ordinals protocol is integral to transferring and issuing inscriptions or tokens on small Bitcoin denominations. It aims to address the issue of “cursed inscriptions.”
These are inscriptions unrecognized by the protocol’s first version. The Jubilee seeks to reclassify these inscriptions, assigning them positive numbers and setting a precedent for protocol development and governance. However, the upgrade has sparked debate within the Bitcoin developer community, especially around its impact on the BRC-20 standard.
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