Gate.io Infras Solutions to Bolster BTC Ecosystem
Gate.io, a leading cryptocurrency exchange, has announced the release of infrastructure solutions aimed at strengthening the Bitcoin BRC20/Ordinals ecosystem. Based on the Bitcoin Ordinals protocol, the BRC20 token protocol has emerged as a significant industry disruptor, providing a unique storage method for information by directly inscribing onto the Bitcoin blockchain, eliminating the need for Layer 2 network support.
However, due to the Bitcoin network’s limited capacity, which can only handle an average of 7 Transactions Per Second (TPS), demand for BRC20 has skyrocketed, resulting in high transaction fees exceeding $20 per transaction and significant network congestion.
As a result, Gate.io, an industry leader known for its advanced technology and position as the largest BRC20 trading platform, has already saved its customers tens of millions of dollars in trading fees in just a few days. Gate.io is pleased to announce the introduction of innovative infrastructure solutions for the Bitcoin BRC20/Ordinals ecosystem, as part of its commitment to improving the BRC20 ecosystem experience and addressing high BRC20 fees and network congestion.
(With inputs from Shikha Singh)
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