SNEAK PEEK
- Supporters of Bitcoin Ordinals are considering a hard fork to create a separate blockchain, reminiscent of past splits like Bitcoin Cash and Bitcoin SV.
- Bitcoin Core developers have announced plans to block new Ordinals, sparking a debate in the Bitcoin community.
- The tension between Bitcoin’s original principles and new technological advancements, posing a critical choice for the community’s future direction.
In the evolving landscape of cryptocurrency, a significant development has emerged within the Bitcoin community. The core developers of Bitcoin have announced plans for the Bitcoin Core v27 update, which aims to prevent the addition of new Ordinals to the Bitcoin blockchain. This decision marks a pivotal moment, as Ordinals, essentially nonfungible tokens (NFTs) on the Bitcoin blockchain, have sparked intense debate since their inception in 2023.
Supporters of Bitcoin Ordinals are now facing a crucial decision. With the core team’s move to exclude future Ordinals, these enthusiasts are contemplating a hard fork of Bitcoin. This proposed fork would create a separate blockchain, maintaining the ability to add new Ordinals. This scenario mirrors past events such as the creation of Bitcoin Cash and Bitcoin SV, where disagreements within the community led to the formation of new chains.
The heart of the debate lies in the contrasting views of Bitcoin maximalists and Ordinal proponents. Maximalists view Ordinals as detrimental to Bitcoin’s primary functions as digital gold and electronic currency. They argue that Ordinals could be considered a bug or even an attack on the Bitcoin protocol. On the other hand, Ordinal supporters see this innovation as a natural progression, enabled by previous Bitcoin protocol upgrades like Segregated Witness (SegWit) and Taproot.
This disagreement has intensified recently, with key figures like Max Keiser and developer Luke Leighton vocalizing their opposition to Ordinals. This growing rift highlights the evolving nature of Bitcoin and the challenges it faces in maintaining its original principles in the face of new technological developments.
The impending Bitcoin Core v27 update brings this issue to the forefront. While existing Ordinals would remain unaffected, the update would halt the creation of new ones. This highlights the significant influence that developers and nodes hold over the Bitcoin protocol, a point of contention for those who bought into Ordinals and miners who benefited from increased transaction fees in 2023 due to their proliferation.
In light of these developments, proponents of Bitcoin Ordinals are considering the establishment of a dedicated Bitcoin Ordinals chain. This move would allow them to continue their vision without the risk of core developers nullifying their efforts. The Bitcoin community, at a critical point in its history, now faces a choice.
