Bitcoin NFT Protocol Ordinals Sets New Record with 2.037 Million Inscriptions

04/28/2023 06:53 • Blockchain Buzz • 119 views

On April 28th, according to Dune data, the total number of inscriptions cast on the Bitcoin NFT protocol Ordinals based on software engineer Casey Rodarmor has reached a record high of 2.037 million, with a total cost of 194.9 BTCs to date.

The total number of Ordinals inscriptions cast in the Bitcoin NFT protocol has exceeded 2 million pieces

Bitcoin is no stranger to breaking records, and this time it’s the Bitcoin NFT protocol Ordinals making waves. According to Dune data, on April 28th, the total number of inscriptions cast on the protocol based on software engineer Casey Rodarmor’s work has reached a record high of 2.037 million. This impressive feat has cost a total of 194.9 BTCs to date.

The Bitcoin NFT Protocol Ordinals: An Overview

Ordinals is a protocol for creating and trading non-fungible tokens (NFTs) on the Bitcoin network. Unlike other NFT protocols, such as Ethereum’s ERC-721 standard, Ordinals uses the Bitcoin blockchain to store NFT data. This ensures that NFTs created on Ordinals are truly unique and immutable.
The protocol was created by software engineer Casey Rodarmor and makes use of the Bitcoin Script programming language. It allows developers to create custom smart contracts that define the rules for creating and trading NFTs.

The Record-Breaking Inscriptions

On April 28th, the number of inscriptions cast on the Ordinals protocol reached a new record high of 2.037 million. This is a significant milestone for the protocol, which has been steadily gaining traction in the NFT space. The inscriptions represent a variety of NFT creations, from digital art to collectible items and more.
This achievement is a testament to the growing interest in NFTs and the potential of using Bitcoin as a platform for creating and trading them. The Ordinals protocol offers a unique solution to the challenges faced by other NFT protocols, including scalability and network congestion.

The Cost of Inscriptions

To date, the total cost of inscribing on the Bitcoin NFT protocol Ordinals has been 194.9 BTCs. This highlights the value placed on the protocol by its users and the willingness to invest in the creation and trading of unique and valuable NFTs.

The Future of Bitcoin NFTs

The record-breaking inscriptions on the Bitcoin NFT protocol Ordinals are just the beginning. The increasing popularity of NFTs, coupled with the advantages of using the Bitcoin blockchain for NFT creation and trading, make for a promising future.
As more developers and artists adopt the Ordinals protocol, we can expect to see even more innovative NFT creations in the future. The Bitcoin NFT space is constantly evolving, and the Ordinals protocol is leading the way.

Conclusion

The Bitcoin NFT protocol Ordinals has set a new record with 2.037 million inscriptions, demonstrating the potential of Bitcoin as a platform for creating and trading NFTs. The protocol’s unique use of the Bitcoin blockchain, coupled with the increasing interest in NFTs, makes for a promising future.

FAQs

Q: What is Bitcoin NFT protocol Ordinals?
A: Ordinals is a protocol for creating and trading non-fungible tokens (NFTs) on the Bitcoin network, created by software engineer Casey Rodarmor.
Q: How many inscriptions have been cast on the Ordinals protocol?
A: As of April 28th, the total number of inscriptions cast on the Ordinals protocol has reached a record high of 2.037 million.
Q: What is the total cost of inscribing on the Bitcoin NFT protocol Ordinals?
A: To date, the total cost of inscribing on the Bitcoin NFT protocol Ordinals has been 194.9 BTCs.

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