Recap of Bitcoin Scaling Solutions

The Bitcoin ecosystem has seen a meteoric rise recently as a result of the Bitcoin Ordinals, a standard enabling the creation of Bitcoin-based NFTs. These NFTs are enabled by inscribing the metadata on a single satoshi, hence the namesake, Inscription. As of this writing, there are over 1.65 million Ordinals inscriptions and the trend is continuing to rise. The in-depth development of Ordinals was covered in a prior research piece. 

Beyond Ordinals, inscriptions also made it possible for different token standards on Bitcoin, such as BRC-20, named after Ethereum's token standard, ERC-20. As of this writing, there are over 14,000 different BRC-20 tokens, though only a handful have significant trading activity. A deeper analysis of BRC-20s can be found in an earlier research piece.