"Bitcoin is evolving into a multi-asset blockchain network"
For more than a decade, the main topic around Bitcoin has always been peer-to-peer digital cash or a store of value.
However, the emergence of the Ordinals protocol has created more possibilities for the use of Bitcoin, causing Bitcoin’s transaction fees to surpass Ethereum on November 20.
"Where did Ordinals come from?"
In January 2023, developer Casey Rodamor revealed to the world Ordinals, a protocol that allows you to permanently write any file to the Bitcoin blockchain.
Since October 24, 2023, more than 6 million Ordinal assets have been created, with total transaction fees exceeding 800 BTC in fees (worth approximately $30 million).
Although this is not the first method of writing file data to the blockchain, the Ordinals protocol still attracts a huge number of users and even creates a trend; irreversibly transferring your NFT collection, music, etc. Creations, game live videos, news articles, and even WikiLeaks records are stored permanently on the world's largest decentralized network.
"The Ordinals protocol was launched less than a year ago, but it has grown significantly!"
One of the noteworthy features of the Ordinals protocol is recursive inscription technology, which allows users to circumvent the storage limit of 4 megabytes per block, allowing users to store larger data on the Bitcoin blockchain.
Ordinals community developer Leonidas provided a clearer explanation of the recursive inscription technology on Twitter:
What if many people uploaded large packages of code to the Bitcoin blockchain? As a result, there is now a vast repository of software packages for developers to build on. This will unlock powerful use cases that could never fit under 4 MB. After all, the most complex software is just a bunch of code compiled together. It is now possible to fully chain complex 3D video games onto Bitcoin.
With such technology, what will the blockchain world look like? Welcome to leave your opinions in the message box!
