Developers Plan to Add Support for BRC-20 Tokens to Lightning Network
Main page Technologies, Altcoins, Blockchain

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.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

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.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Twitter user Ignas has estimated the value of these 20 transactions at around $430.

Read also:
Please describe the error