Adam Back, CEO of Blockstream, emphasized the futility of prohibiting non-fungible tokens (NFTs) like "JPEGs" on Bitcoin, asserting that efforts to stop them would only lead to inferior methods. Central to Back's argument is the recent rise in transaction costs on Bitcoin's mainnet, which he believes will drive innovation and the adoption of layer-2 solutions like the Lightning Network. Back argues that the proliferation of JPEGs and BRC-20 tokens on Bitcoin, while increasing network congestion, will ultimately compel users to find efficient workarounds and adopt layer-2 solutions.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.