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Open Ordex Launches Main and Test Network for Bitcoin NFT Trading

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On February 23, it was reported that the Bitcoin NFT market Open Ordex has launched the main network and test network. The seller can create a partially signed…

Open Ordex Launches Main and Test Network for Bitcoin NFT Trading

On February 23, it was reported that the Bitcoin NFT market Open Ordex has launched the main network and test network. The seller can create a partially signed Bitcoin transaction (PSBT) to specify the price of the serial number, and then the seller can sign the PSBT and broadcast it to the network.

Bitcoin NFT market Open Ordex has launched the main network and test network

Interpretation of the news:


The Open Ordex platform has recently announced the launch of its main network and test network for trading Bitcoin NFTs. This development is set to bring positive changes to the trading of NFTs on the blockchain network.

According to reports on February 23, the platform has designed new features to ensure seamless trading activities. These new features will allow sellers to create a partially signed Bitcoin transaction (PSBT), which specifies the price of the serial number of the NFT. After this, the seller can then sign the PSBT and broadcast it to the network.

This move is significant for the NFT market, which has experienced a tremendous surge in recent times. NFTs are unique digital assets that are stored on the blockchain network. They range from artwork to music, videos, and sports-related items and demand has seen prices skyrocket in recent years.

Open Ordex’s introduction of the PSBT feature allows sellers to specify a price for their NFTs on the blockchain, which will enable buyers to make purchases smoothly. The process will be transparent, and if for any reason the transaction fails to go through, the PSBT will be invalidated and cannot be used again.

Furthermore, the platform is also set to introduce a transaction-free mechanism that will allow users to trade NFTs at zero cost. This feature is aimed at reducing the expensive nature of blockchain transactions and making it accessible to everyone.

Open Ordex’s new features are coming at a time when NFT trading is at an all-time high. The platform has provided an innovative solution that will help buyers and sellers navigate the space conveniently. Experts predict that the adoption of blockchain technology will continue to grow, particularly in the financial sector as more investors and traders look towards digital currencies like Bitcoin.

In conclusion, the launch of the main network and test network by Open Ordex is a welcome development in the NFT market. The PSBT feature will enable seamless trading while the transaction-free mechanism will help cut down trading costs. It’s a positive development that will bring about more innovation in the NFT and broader blockchain space.

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