The team associated with the OmniBOLT project has just announced it intends to integrate BRC-20 tokens into the Lightning Network (LN) for faster and more efficient transactions.
Notably, OmniBOLT, which is developed by Synonym Software, is an LN protocol running on the Omni solution for Bitcoin.
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The hype around BRC-20 tokens in recent weeks has led to a surge in their market capitalization to $650 million and a jump in average fees on the BTC network to $7, July 2021 levels.
Researcher Eric Wall has explained the dynamics by the details of the BRC-20 token issuance. He has drawn attention to the fact that in order to access the leading UniSat market in the BRC-20 segment, 20 "registrations" must be released. According to Wall, these transactions are "polluting" the Bitcoin blockchain, driving up transaction fees.
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Twitter user Ignas has estimated the value of these 20 transactions at around $430.