Bitcoin-based meme coins created using the new BRC-20 standard have contributed to rising Bitcoin fees, as they require more data than a standard transaction. However, proposals by some members of the Bitcoin community to block Bitcoin NFT projects through a filtering mechanism may undermine Bitcoin's fundamental principles of openness and decentralization, warns Michael Casey, CoinDesk's Chief Content Officer. While Bitcoin's governance challenges are becoming more complex, balancing innovation with the core values of the community will remain a critical task for its future success.
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