Tether CTO Comments on BRC-20 Meme Token Craze: Is He Hot?

Tether Responding to the BRC-20 and Ordinals stream, its CTO Paolo Ardoino said that if such a feature exists, users are entitled to use it and exchanges should speed up the implementation of the Lightning Network to avoid high transaction fees.

Tether CTO Says Exchanges Are Late for Lightning Integration in Bitcoin

Ardoino expressed his thoughts in his statement as follows:

“Actually, the concept of BRC and Ordinals does not affect security. Frankly, the problem we have these days is that fees are rising for all Bitcoin users: everyone who has to make ‘normal’ transactions and payments find themselves facing increased transaction costs. This is absolutely annoying if you have to make a payment.

But from my point of view, we cannot control the use of Bitcoin or be a guarantor of what is good and what is bad. If a feature exists, it is users’ right to use it.

Bitcoin will always remain secure – it is the most secure solution we have – and it is still scalable thanks to solutions like Lighting Network.

What’s happening these days shows that many exchanges have slept through four years not implementing scalability solutions. Because they did not do this, they had to temporarily close the ability to trade in BTC to cope with this staggering increase in transaction costs.”

Ardoino is also in Europe cryptocurrencies He said it is too early to talk about the positive or negative impact of this for MiCA, which is the law to oversee.

BRC-20 is an exchangeable token standard built specifically for the Bitcoin blockchain. These tokens can be linked to satoshis and then exchanged or converted, just like any other token.

*Not investment advice.