Bitcoin ordinal inscriptions rise above 100,000 marks, driving development of supporting infrastructure –
According to the latest statistics, the Bitcoin–Blockchain added more than 100,000 ordinal enrollments since the trend began. Amid the growing popularity, people have introduced supportive marketplaces and tools that allow individuals to sign up without a full knot. Additionally, a decentralized ordinal exchange is reportedly in the works.
100,000 enrollments and counting: Increased ordinal enrollments lead to record bitcoin metrics
About nine days ago, there were fewer than 10,000 ordinal inscriptions on the Bitcoin (BTC) blockchain. Since then, enrollments have increased by 1,434% and surpassed the 100,000 mark. At the time of writing there are approx 109,988 Ordinal inscriptions hosted on the decentralized network.
Since the inscription trend has swelled, a number of individuals and organizations have built infrastructure to encourage greater adoption. For example, gamma.io and ordinalsbot.com have developed tools that allow people to mint ordinal inscriptions onchain for an additional fee on top of the network fee.
Tools like these have appeared more recently, allowing users who don’t run a full knot to emboss inscriptions. The BitcoinWallet Xverse has started Ordinary support, and people have been argue two ordinal marketplaces where users can buy and sell inscriptions.
The decentralized ordinals marketplace is coming 👀 pic.twitter.com/AiMVNMZNdO
— Hell Money (@hellmoneypod) February 6, 2023
In addition, according to a recently published study, a decentralized ordinal marketplace is to come tweet and a clip from the Hell Money Podcast. People have even built a handy calculator that estimates the current cost of joining the Bitcoin blockchain. Before the number of ordinal inscriptions reached 100,000, people debated how early they were and how many Minters hoped to write their messages before reaching the 100,000 milestone.
Muneeb Ali, the co-founder of Stacks, a bitcoin smart contract layer, tweeted about a new bitcoin web wallet looming on the horizon, noting that there are ordinals, NFTs and will support Bitcoin Layer 2 solutions on top of native Bitcoin. “New bitcoin web wallet release almost ready,” said the Stacks co-founder.
Since the rise in ordinal inscriptions, the Bitcoin network has seen the largest increase in Taproot– Months of usage and highest transaction fees in over a year. Additionally, block sizes above the 3MB range have become commonplace on the Bitcoin network.
What do you think the future holds for the development of the ordinal inscription trend on the bitcoin network? Let us know what you think about this topic in the comment section below.
photo credit: Shutterstock, Pixabay, WikiCommons
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Source: Crypto News Deutsch
