The Issues With BRC-20 Tokens.
After carefully analyzing the BRC20 Tokens and its factors surrounding it, I decided to put together the problems that stands to hinder its growth and sustainability.
As a matter of fact, most of the BRC20 Tokens are meme coins and it hit 1 Billion dollars market capital surprisingly due to its hype.
Below are the problems:👇
1. High Cost.
Due to the stacked nature of the user interfaces being built, most transactions require the gas token for the exchange or BTC to pay the minting app, and a second payment in BTC for the network fees.
2. Network Pollution.
There are so many unconfirmed transactions/backlogs in the blockchain & this has lead to the network taking longer time for a transaction to be confirmed... 390K unconfirmed transactions.
3. Rise of Scam/Rug Tokens/projects.
