Bitcoin NFT Protocol, Ordinals, Sets New Record with Over 300,000 Inscriptions on a Single Day

05/01/2023 04:50 • Metaverse Matters • 133 views

On May 1st, according to Dune Analytics data, the Bitcoin NFT protocol Ordinals, launched by software engineer Casey Rodarmor, had a record high of over 300000 inscriptions cast on a single day on April 30th. Among them, textual inscriptions account for 99.9%. The total number of inscriptions cast based on the Bitcoin NFT protocol, Ordinals, has reached nearly 2.76 million, with a total cost of 229 to date.

Bitcoin NFT protocol Ordinals has cast over 300000 inscriptions yesterday, setting a new record high

Bitcoin NFT protocol, Ordinals, has achieved a new milestone in the world of non-fungible tokens. According to data from Dune Analytics, the platform had a record high of over 300,000 inscriptions cast on a single day, May 1st. This achievement is credited to software engineer Casey Rodarmor, who created the protocol.

What is Ordinals?

Before we delve into the recent record by Ordinals, let’s first understand what this platform is all about. Ordinals is a Bitcoin NFT protocol that is designed to enable users to create NFTs on the Bitcoin blockchain. The platform is unique in that it allows for the creation of non-fungible tokens that are based on textual inscriptions, which is a new innovation in the world of NFTs.

The Record High

On April 30th, Ordinals set a new record by having over 300,000 inscriptions cast in a single day. This is a huge milestone for the platform and its creator, Casey Rodarmor. The inscriptions were mostly textual, accounting for 99.9% of all inscriptions cast on the platform. The total number of inscriptions cast based on the Bitcoin NFT protocol, Ordinals, has also reached nearly 2.76 million, with a total cost of 229 to date.

The Significance of the Record

The record high by Ordinals is significant for several reasons. For one, it showcases the growing interest in NFTs and their potential as a new way to collect and invest in digital assets. It also highlights the innovative potential of developers like Casey Rodarmor who are pushing the boundaries of what is possible with blockchain technology.
Another significant aspect of Ordinals is the focus on textual inscriptions, which opens up new possibilities for NFTs beyond just digital art. Textual inscriptions allow for the creation of unique and collectible digital items that have their own value and appeal.

The Future of Ordinals

With its recent record high, Ordinals has cemented its place as a leading Bitcoin NFT protocol. The platform has already attracted a significant number of users who are interested in creating and collecting unique digital assets. As NFTs continue to gain popularity, it’s likely that Ordinals will continue to grow and evolve.

Conclusion

In conclusion, the recent record high by Bitcoin NFT protocol, Ordinals, is a significant milestone that highlights the potential of NFTs and blockchain technology. The innovative approach of the platform’s creator, Casey Rodarmor, has opened up new possibilities for creating and collecting digital assets. As the popularity of NFTs continues to grow, it’s likely that we’ll see more developments from platforms like Ordinals that push the boundaries of what is possible.

FAQ

Q: What is Ordinals?
A: Ordinals is a Bitcoin NFT protocol that allows for the creation of non-fungible tokens that are based on textual inscriptions.
Q: What is the significance of the record high by Ordinals?
A: The record high showcases the growing interest in NFTs and their potential as a new way to collect and invest in digital assets. It also highlights the innovative potential of developers who are pushing the boundaries of what is possible with blockchain technology.
Q: What is the future of Ordinals?
A: With its recent record high, Ordinals has cemented its place as a leading Bitcoin NFT protocol. As NFTs continue to gain popularity, it’s likely that Ordinals will continue to grow and evolve.

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