BRC-69 Standard Claims To Reduce Transaction Costs By 90%
A new proposal has been put forward that can supposedly reduce transaction costs for Bitcoin Ordinals by as much as 90%. The proposal, known as BRC-69, would allow recursive Ordinals to be created, which could enable existing on-chain data to be used for new inscriptions on the Bitcoin blockchain.
Bitcoin Ordinals are currently limited by the 4 megabyte block size constraint on the blockchain. This can lead to high transaction fees, as well as congestion on the network, whether for Ordinal transactions or transactions initiated for other purposes.
The BRC-69 proposal would address the block size limit because recursive Ordinals can allegedly reference the features of other tokens within an NFT collection. In other words, more complex Ordinals could be created without necessarily having to increase the size of each inscription.
The BRC-69 proposal is still in the early stages, but the group that proposed it believes that it has the potential to significantly improve the Bitcoin Ordinals protocol. If BRC-69 is adopted, it may help make Ordinals more accessible to a wider range of users. It may also directly improve the scalability of Ordinals and could resolve in part some recent capacity concerns on the Bitcoin blockchain.
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