After three years of pioneering on-chain experimentation (Ordinals, BRC20, Runes, meme-coins), it's time to acknowledge that, despite intense R&D, we still lack a final fully functional protocol solution; progress without product. Ordinals ignited the ecosystem, enabling on-chain immutable art via satoshi inscription, but struggled under prohibitive inscription costs. Early innovation like BRC69 optimizations swiftly reduced per-token cost, granting high-quality trait inscriptions in Year 1. BRC20 then attempted fungible tokens on Bitcoin. It brought hype but caused UTXO proliferation, mempool congestion, and relied heavily on off-chain indexing and fragile two-tx mint/transfer logic. Runes emerged as a cleaner UTXO-based model, far less on-chain bloat, better Lightning and UX compatibility, and is gaining on-chain traction. Yet network-level scalability limits remain and market confidence ebbs and flows. ICP tokens like Odin Dog (Odin Fun or others) represent an experimental layer...
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