Bitcoin NFT Protocol Ordinals Hits Record High in Inscriptions
On March 10, according to data from Dune Analytics, the number of inscriptions cast on the Bitcoin NFT protocol Ordinals launched by Casey Rodarmor, a software
On March 10, according to data from Dune Analytics, the number of inscriptions cast on the Bitcoin NFT protocol Ordinals launched by Casey Rodarmor, a software engineer, exceeded 30000 on March 9, a record high. The number of “text” type inscriptions is close to 27000, accounting for 85%. It is reported that Twitter user @ domodata launched an innovative experiment “BRC-20” based on the Ordinals protocol yesterday, aiming to achieve the effect of issuing ERC-20 Token on the Bitcoin network like on the Ethereum network through the Ordinals protocol.
Data: Bitcoin NFT protocol Ordinals cast more than 30000 inscriptions yesterday
Analysis based on this information:
The Ordinals protocol, a Bitcoin NFT platform created by Casey Rodarmor, saw a record high in the number of inscriptions cast on March 9, with over 30,000 inscriptions. The majority of the inscriptions were of the “text” type, accounting for 85% of the total. This remarkable achievement highlights the growing demand for Bitcoin-based NFTs.
It is noteworthy that a Twitter user named @domodata launched an innovative experiment named “BRC-20” which aims to allow the creation of ERC-20 tokens on the Bitcoin network, similar to that on the Ethereum network. The experiment is based on the Ordinals protocol, which makes it easier to create tokens on the Bitcoin network. The success of this experiment can usher in a new dawn of possibility for Bitcoin NFTs.
This milestone in the Bitcoin NFT world is both exciting and revolutionary. It highlights the potential of the Ordinals protocol to create more use cases for Bitcoin, beyond its use as a store of value. The platform offers an easier and faster option for creating NFTs on Bitcoin, and its success shows a growing interest in the platform.
Moreover, the opportunity to create ERC-20 tokens on the Bitcoin network can help to bridge the gap between the two popular blockchain networks. It could potentially open up new possibilities for creating cross-chain NFTs and could provide a more significant push for Bitcoin’s adoption in the long run.
In conclusion, the Ordinals protocol’s recent achievement in reaching a 30,000 inscription milestone is a big step towards the realization of Bitcoin’s broader utility as a platform for creating NFT’s. This exciting milestone could serve as a catalyst for further innovations in the Bitcoin NFT world, with the potential to expand the use cases of blockchain technology.
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