Bitcoin developers divided on meme coin explosion.

Bitcoin’s new “Ordinals” protocol has led to the development of many new applications, but some developers maintaining the network’s source code are concerned. Critics argue that the new types of transactions are clogging up the blockchain and making it difficult for people to use it for its intended purpose. Ali Sherief, a developer, believes that the system is being “abused” and has recommended an upgrade to delete all transactions related to the new protocol. Others, like Luke Dashjr, think that regular transactions should be prioritized and that “spam” transactions should be ignored. However, some argue that the innovation should be celebrated and that it is unethical for developers to discount transactions they subjectively disapprove of. Michael Saylor, a Bitcoin billionaire and advocate, welcomes the advent of Ordinals and the potential applications it could bring, such as tokenizing stocks and ETFs. Stably has already launched Bitcoin’s first native US dollar stablecoin using the BRC-20 standard.