#bitcoin #NFT #ordinals #BTC #nftcommunity
The number of NFT Ordinals of Bitcoin has multiplied tenfold in just a few weeks, reaching a total of 500,000. The growth of this new protocol continues to feed interest in the technology, despite criticism and fears from many members of the bitcoiner community.
NFT Ordinals are a new way to store files on the Bitcoin network, digital inscriptions that store information in the blockchain, thanks to the improvements provided by SegWit and Taproot protocols.
At the end of January, there were only just over 100 NFT Ordinals of Bitcoin. However, with the creation of new tools to facilitate the creation and management of inscriptions, the number has grown rapidly.
Initially, creating and managing NFT Ordinals of Bitcoin was only possible through the native wallet developed by Casey Rodarmor, the creator of this protocol. However, using this tool required managing a full Bitcoin node locally. Additionally, executing functions in it required using code, which was not the most user-friendly format for most technology users.
Over time, different companies and teams of programmers have worked to facilitate the adoption of this technology by creating new products or adapting existing ones. Wallets like XVerse, Hiro, and Sparrow now allow their users to manage NFT Ordinals of Bitcoin.
Recently, UniSat Wallet also opened up the possibility for its users to manage NFT Ordinals, but with the added ability to create inscriptions. This feature gives it an advantage over many of its competitors.
While the number of inscriptions on the Bitcoin network continues to grow and gain the attention of more and more people, many members of the bitcoiner community oppose this use of technology. Important developers, such as Luke Dashjr and Adam Back, have spoken out against this modality of NFT in Bitcoin.
Detractors of NFT Ordinals of Bitcoin argue that this system represents a threat to network security, privacy, and efficiency. They believe that storing data such as images, audios, and even video games on the Bitcoin blockchain is a waste of space and increases transaction fees.
As a result, the Bitcoin network has already suffered congestion caused by Ordinals inscriptions. At the time of this writing, there are more than 50,000 transactions waiting to be confirmed. One of the main consequences of the appearance of NFT Ordinals in Bitcoin has been the growing accumulation of transactions in the network's mempool.
The debate over NFT Ordinals of Bitcoin continues, but the growth of this new protocol suggests that it will continue to be an important topic for discussion in the cryptocurrency world.
