The Monero community criticized Ordinal concept use on the Monero blockchain network.
The Ordinals concept was first introduced in Jan of this year by a developer. This new concept was introduced to easily issue tokens & NFTs on the Bitcoin network. Bitcoin ordinals grabbed huge popularity in the crypto sector over the last 30 days and a bad outcome of this concept can be easily seen in the high increment in the average Bitcoin network transaction fees.
Recently few developers tried to bring Ordindals on the privacy focussed blockchain network Monero, called Mordinals.
However, few people admired this concept introduction on the Monero blockchain network, as another new use case of Monero coin but the majority of the Monero supporters slammed this idea and said that it may bring a threat to the privacy of the network users.
According to Monero supporters, Ordinals is totally a centralized concept and also if Ordinals will come to the Monero blockchain at a high level then it may further bring a threat to the privacy of other people, who want remain anonymous with the Monero network.
Bitcoin, Ordinals, & Opportunity
So far no better use case of Ordinals came to this crypto but recently Bitcoin bullish firm Microstrategy’s former CEO Michael Saylor said that his firm is exploring the potential use case of the Bitcoin Ordinals to bring the new application ideas to the highly secured decentralized network of Bitcoin.
However, Ordinals are available on Dogecoin & Bitcoin both but still, Bitcoin ordinals is only getting popularity in the crypto sector. But the main problem that arose because of this tech concept is high network fees.
Around a week ago, the average Bitcoin network fee was more than $20.
Binance crypto exchange noted that on-chain Bitcoin transactions will surge more in the future and it will be better to use Bitcoin lightning network-enabled services.
Read also: Swiss lender Acredius will deploy service on Cardano Blockchain
Credit: Source link
