The Popularity of Bitcoin NFT Protocol Ordinals is Soaring

04/24/2023 09:13 • Tech Trends • 75 views

On April 24th, according to Dune Analytics data, the Bitcoin NFT protocol Ordinals, launched by software engineer Casey Rodarmor, had a record high of over 190000 inscriptions cast on a single day on April 23rd. The number of textual inscriptions is 190202, accounting for 98.5%. The total number of inscriptions cast based on the Bitcoin NFT protocol, Ordinals, has reached 1.58 million, and the total cost incurred so far has reached 181 BTCs.

Data: Bitcoin NFT protocol Ordinals has cast over 190000 inscriptions yesterday, setting a new record high

Bitcoin NFT protocol Ordinals has been on the rise since it was launched by software engineer Casey Rodarmor. According to Dune Analytics data, April 24th saw a record high of over 190,000 inscriptions cast using the protocol. This sudden surge in users underscores the growing popularity of this innovative NFT protocol.

What is Bitcoin NFT Protocol Ordinals?

Ordinals is a new and innovative NFT protocol that enables users to create personalized and exclusive digital content. This protocol works on the Bitcoin blockchain and allows creators to mint their personalized NFTs with ease. Once the digital asset is created, the owner can transfer or sell it to others in the decentralized market. The protocol also ensures that the authenticity of the digital asset is maintained and its value is guaranteed.

Features of Bitcoin NFT Protocol Ordinals

Bitcoin NFT Protocol Ordinals has several features that have contributed to its growing popularity. These include:

1. Low-Cost Minting

Ordinals protocol has a very low gas fee making it accessible to everyone. This is one of the reasons why it has become widely popular among users across the world.

2. High Authenticity

Ordinals protocol ensures high authenticity of the digital asset by maintaining the immutable record of ownership in the blockchain.

3. Decentralized Market

Once the digital asset is minted, the owner can transfer or sell it in the decentralized market. The value of the asset is determined by the market demand.

The Record Day

April 24th saw an unprecedented surge in the use of Ordinals protocol. The Bitcoin NFT protocol had a record high of over 190,000 inscriptions cast on that single day. The number of textual inscriptions was a staggering 190,202, accounting for 98.5% of all inscriptions.

The Growing Popularity of Bitcoin NFT Protocol Ordinals

The soaring popularity of Ordinals protocol is evident from the total number of inscriptions cast. The NFT protocol has now reached a total of 1.58 million inscriptions, indicating that more and more creators are utilizing this protocol to mint their personalized digital assets. The total cost incurred was also significant with 181 BTCs paid so far.

Conclusion

Bitcoin NFT Protocol Ordinals has become extremely popular among creators and users. Its innovative features, low cost, high authenticity, and decentralized market have contributed to its success. The surge in usage on April 24th only underscores the growing popularity of this NFT protocol.

FAQs

1. Can anyone mint their NFT on Bitcoin NFT Protocol Ordinals?

Yes, anyone can mint their NFT on Bitcoin NFT Protocol Ordinals. It has a very low gas fee that makes it accessible to everyone.

2. How do you maintain the authenticity of the digital asset in Ordinals protocol?

The Ordinals protocol ensures high authenticity by maintaining the immutable record of ownership in the Bitcoin blockchain.

3. How do I transfer or sell my digital asset created on Ordinals protocol?

Once you have minted your digital asset on Ordinals protocol, you can transfer or sell it on the decentralized market. The value of the asset is determined by the market demand.

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