The End Of Bitcoin’s Ordinals And BRC-20 Tokens

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Bitcoin Core developer Luke Dashjr disclosed a critical vulnerability within Bitcoin Core that has been exploited by Inscriptions, potentially impacting the functionality of Bitcoin Ordinals and BRC-20 tokens. While addressing the community, Dashjr highlighted the imminent cessation of these entities due to the vulnerability fix.

Addressing Vulnerability: Impact on Bitcoin Ordinals and BRC-20 Tokens

In a recent public announcement, Dashjr flagged a vulnerability within Bitcoin Core that has affected its operability concerning inscriptions. This exploit involves bypassing a long-standing limitation allowing users to control additional data within transactions. Dashjr explained that Inscriptions found a way to disguise their data as program code, circumventing these constraints and raising significant security concerns.

The developer stated that this vulnerability was rectified in Bitcoin Knots version 25.1. However, despite the fix, Bitcoin Core remains susceptible in its upcoming v26 release. Dashjr expressed hopes for rectification before the subsequent v27 release in the upcoming year.

Impact on Ordinals and BRC-20 Tokens

Responding to community queries, Dashjr clarified that once the vulnerability is addressed, Bitcoin Ordinals and BRC-20 tokens will cease to exist. Emphasizing further, he dismissed the existence of Ordinals, labelling it as fraudulent. He attributed the exploit to a spam attack targeting Inscriptions.

However, amid the ensuing concerns, Dashjr iterated that despite the uncertainty generated, this development was ultimately beneficial for all stakeholders.

Technical Concerns and Implications

Developer Addresses Vulnerability and Its Ramifications

While primarily a technical concern pertaining to the blockchain’s efficiency and integrity, Dashjr pointed out that the vulnerability could indirectly impact the security and value of Bitcoin holdings. He underscored the potential impact on the security of holdings and the overarching implications for Bitcoin’s value, albeit indirectly.

Impact on Bitcoin Ordinals and BRC-20 Tokens

Dashjr’s disclosure brings attention to the criticality of security in the crypto space and emphasizes the need for prompt resolution to mitigate potential risks to the Bitcoin ecosystem.

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