Bitcoin NFTs are driving an increase in block size and attention.
Ordinals keep making headlines as there are now more than 100,000 inscriptions carried out on Bitcoin’s network. This has had a notable effect on the network state itself and has sparked a massive debate within the community.
Inscriptions are Bitcoin’s version of a non-fungible token (NFT), and they have been making strides throughout the past couple of weeks.
Multiple high-end sales already took place within the range of the first 1,000 inscriptions, with Ordinal Punks currently holding the all-time high.
Today, a new milestone for this relatively nascent space took place as the protocol saw the 100,000th inscription take place.
Dune Analytics reports that there are currently around 106K of them, highlighting the speed at which people are inscribing.
It’s also worth noting that, at the time of this writing, inscribing requires the maintenance of a fully synchronized Bitcoin node, making this a highly technical process.
Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn