- The standard will be called LTC-20
- The community conducted a test project “lite” on LTC ordinars
- For now, this is just an experiment.
Members of the Litecoin Community testing new NFT standard LTC-20. To this end, they created a test token. This standard is a fork of the BRC-20 and has been described as “just fun, experimental”
The statement also says:
“It should by no means be considered a standard for litecoin functionality with ordinaries. There are definitely better design options and optimization improvements. Therefore, it is an extremely dynamic experiment and it is not recommended to make any financial decisions based on its design.”
There are currently 8,046 BRC-20 tokens issued on BTC Ordinals, with a market value of $133 million and a transaction volume of $904,000 in the last 24 hours. You can read more about Bitcoin Ordinals in our material.
The Litecoin Punks company on its Twitter reported that the first LTC-20 was mined by about 20%. And each carrier received 4000 punks.
It’s not clear at this time if this will lead to massive changes, but the community is interested.
It’s unclear if this will lead to massive changes, but the community is still excited. In the official documentation for the LTC-20 experiment, the author urges not to make serious financial decisions about this. He added:
“I encourage the Litecoin community to work with the default design and settings until there is consensus on best practices.”
