Bitcoin coders feud over whether to crush $1bn frenzy for memecoins
'Bitcoin was never intended to serve as a base layer for meme tokens.'
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'Bitcoin was never intended to serve as a base layer for meme tokens.'
A torrent of speculative coins led to a record number of transactions and an 11-fold spike in processing fees on the blockchain in May, creating a logjam and forcing the Binance exchange to temporarily halt Bitcoin withdrawals.
The coders who maintain bitcoin’s blockchain are clashing over whether to stamp out the memecoins swarming the network.
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Ordinals have triggered a frenzy in memecoins and NFTs on the Bitcoin network, with mining revenue riding high.