Bitcoin Ordinals Bifurcated into Litecoin: The Emergence of NFT technology

02/21/2023 09:11 • Metaverse & Beyond • 72 views

It is reported that the developer Anthony Gurrera bifurcated the code behind Bitcoin Ordinals into Liteoin and cast a copy of the white paper on the upgrade of Mimblewimble as the first NFT effective on Liteoin. The Ordinals protocol on Bitcoin was launched by the developer Casey Rodarmor on January 21, aiming to make it possible to cast NFT on the Bitcoin chain ecological main network.

Developers split the code behind Bitcoin Ordinals to Liteoin

Interpretation of the news:

Recently, it has been reported that developer, Anthony Gurrera, bifurcated the code behind Bitcoin Ordinals into Liteoin, and cast a copy of the white paper on the upgrade of Mimblewimble as the first NFT effective on Liteoin. Bitcoin Ordinals was launched by the developer, Casey Rodarmor, on January 21 with the ambitious aim to make it possible to cast NFT on the Bitcoin chain ecological main network.

The move comes in response to the recent explosive growth of NFTs and the great demand for a more efficient and eco-friendly way of utilizing blockchain. With Bitcoin being the most popular blockchain, Rodarmor aimed to create a protocol that would allow for the creation of NFTs on the Bitcoin main network.

However, despite the noble intentions of Bitcoin Ordinals, the emergence of Litecoin as another blockchain that bifurcated the technology behind it has brought a new twist to the game. The move by Gurrera to bifurcate the code into Litecoin appears to be a deliberate attempt to address some of the limitations of Bitcoin Ordinals and also tap into the growing NFT market.

Notably, the white paper on the upgrade of Mimblewimble is the first NFT to be effective on Liteoin. This upgrade was proposed by Andrew Poelstra, a mathematician at Blockstream, and is aimed at addressing the problems of scalability and privacy that are inherent in the Bitcoin blockchain.

One significant advantage that Litecoin has over Bitcoin is its ability to process transactions more quickly and efficiently. This makes it an ideal blockchain for the creation and trading of NFTs, which requires a high level of speed and efficiency.

In conclusion, the bifurcation of the code behind Bitcoin Ordinals into Liteoin and the subsequent casting of the white paper on the upgrade of Mimblewimble as the first NFT effective on Liteoin is a significant development in the blockchain and NFT market. It represents an ambitious move to create a more efficient way of utilizing blockchain, address the limitations of existing protocols, and tap into the expanding NFT market.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/2090.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.