{"id":78508,"date":"2023-05-09T18:23:17","date_gmt":"2023-05-09T15:23:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78508"},"modified":"2025-09-11T05:35:35","modified_gmt":"2025-09-11T02:35:35","slug":"developers-to-add-support-for-brc-20-tokens-on-the-lightning-network","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/developers-to-add-support-for-brc-20-tokens-on-the-lightning-network\/","title":{"rendered":"Developers to add support for BRC-20 tokens on the Lightning Network"},"content":{"rendered":"<p>The team behind OmniBOLT announced work on integrating BRC-20 tokens into <a href=\"https:\/\/forklog.com\/en\/news\/lightning-network-faster-cheaper-bitcoin-transactions\">Lightning Network (LN)<\/a> \u201cfor faster and more efficient transactions.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? Big news! <a href=\"https:\/\/twitter.com\/hashtag\/OmniBOLT?src=hash&#038;ref_src=twsrc%5Etfw\">#OmniBOLT<\/a> plans to support the circulation of <a href=\"https:\/\/twitter.com\/hashtag\/BRC20?src=hash&#038;ref_src=twsrc%5Etfw\">#BRC20<\/a> tokens on the <a href=\"https:\/\/twitter.com\/hashtag\/LightningNetwork?src=hash&#038;ref_src=twsrc%5Etfw\">#LightningNetwork<\/a>! \u26a1\ufe0f? <\/p>\n<p>This will enable faster, more efficient transactions, and unleash new possibilities for BRC20 <a href=\"https:\/\/twitter.com\/hashtag\/Tokens?src=hash&#038;ref_src=twsrc%5Etfw\">#Tokens<\/a> <\/p>\n<p>? Keep an eye out for updates! <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BRC20?src=hash&#038;ref_src=twsrc%5Etfw\">#BRC20<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Layer2?src=hash&#038;ref_src=twsrc%5Etfw\">#Layer2<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/blockchain?src=hash&#038;ref_src=twsrc%5Etfw\">#blockchain<\/a> <a href=\"https:\/\/t.co\/KPlApA6CKO\">pic.twitter.com\/KPlApA6CKO<\/a><\/p>\n<p>\u2014 OmniBOLT (@omni_bolt) <a href=\"https:\/\/twitter.com\/omni_bolt\/status\/1655856938117382144?ref_src=twsrc%5Etfw\">May 9, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The OmniBOLT project is developing Synonym Software. <a href=\"https:\/\/forklog.com\/en\/news\/tether-unit-to-develop-bitcoin-services-on-the-lightning-network\">It was<\/a> founded by the issuer of the stablecoin Tether (USDT) \u2014 Tether Holdings Limited. The project is a launched LN protocol built on Omni&#8217;s solution for Bitcoin.<\/p>\n<p>The hype around BRC-20 tokens in recent weeks has driven their market capitalization <a href=\"https:\/\/forklog.com\/en\/news\/brc-20-token-market-cap-hits-650-million\">to $650 million<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/average-ethereum-transaction-fee-hits-may-2022-levels\">a jump in average fees<\/a> on the Bitcoin network to levels last seen in July 2021 ($7).<\/p>\n<p>Researcher Eric Wall attributed the dynamics to the specifics of BRC-20 token issuance. He noted that to access UniSat, the leading marketplace in the BRC20 segment, you need to issue 20 <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-nfts-how-the-ordinals-project-is-shaping-the-bitcoin-blockchain\">\u201cinscriptions\u201d<\/a>. According to Wall, these transactions \u201cclog\u201d the Bitcoin blockchain, triggering a rise in transaction fees.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">in order to buy 1 brc-20 with unisat wallet<\/p>\n<p>you first need to make 20 mints (inscriptions)<\/p>\n<p>these mints clog the chain, fill the charts with more ordinal % and make tx fees go up <\/p>\n<p>alerting more people into the phenomenon, making them each mint 20 more brc-20s to buy 1 brc-20<\/p>\n<p>\u2014 Eric Wall ?\u200d\u2642\ufe0f Taproot Wizard #2 (@ercwl) <a href=\"https:\/\/twitter.com\/ercwl\/status\/1654816505647775746?ref_src=twsrc%5Etfw\">May 6, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Twitter user Ignas estimated the cost of these 20 transactions \u2014 around $430.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThis is the price you pay to be an early adopter,\u201d he noted.<\/em><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">4\/7 So, it costs $430USD to make 20 mints on UniSat.<\/p>\n<p>That\u2019s the price you pay for being an early adopter.<\/p>\n<p>And it\u2019s indeed early: BRC-20s started as an experiment by <a href=\"https:\/\/twitter.com\/domodata?ref_src=twsrc%5Etfw\">@domodata<\/a> in March. <a href=\"https:\/\/t.co\/Uk7nMLvpPs\">pic.twitter.com\/Uk7nMLvpPs<\/a><\/p>\n<p>\u2014 Ignas | DeFi Research (@DefiIgnas) <a href=\"https:\/\/twitter.com\/DefiIgnas\/status\/1655442253647847427?ref_src=twsrc%5Etfw\">May 8, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In his words, users still join the game because prices of many coins are rising.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cIt\u2019s exciting to try and learn something new. The hype has increased miners\u2019 fees, boosting Bitcoin\u2019s security. However, the community is not of one mind on this count,\u201d<\/em> concluded Ignas.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">7\/7 Overall, it\u2019s exciting to try out &#038; learn something new.<\/p>\n<p>It also increases fees earned by Bitcoin miners, so it should make Bitcoin blockchain more secure.<\/p>\n<p>However, the Bitcoin community remains divided on this issue.<\/p>\n<p>\u2014 Ignas | DeFi Research (@DefiIgnas) <a href=\"https:\/\/twitter.com\/DefiIgnas\/status\/1655442273205878790?ref_src=twsrc%5Etfw\">May 8, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As reported in April, the PEPE token rose tenfold, <a href=\"https:\/\/forklog.com\/en\/news\/pepe-price-rally-turns-meme-token-holders-into-millionaires\">turning some holders of the coin into millionaires<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The team behind the OmniBOLT project announced work on integrating BRC-20 tokens into the Lightning Network (LN) for faster and more efficient transactions.<\/p>\n","protected":false},"author":1,"featured_media":78509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,325,1161],"class_list":["post-78508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-lightning-network","tag-memes"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78508"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78508\/revisions"}],"predecessor-version":[{"id":78510,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78508\/revisions\/78510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78509"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}