{"id":545353,"date":"2023-01-30T09:30:00","date_gmt":"2023-01-30T06:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ordinals-protocol-sparks-debate-over-nfts-place-in-the-bitcoin-ecosystem\/"},"modified":"2023-01-30T09:30:00","modified_gmt":"2023-01-30T06:30:00","slug":"ordinals-protocol-sparks-debate-over-nfts-place-in-the-bitcoin-ecosystem","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ordinals-protocol-sparks-debate-over-nfts-place-in-the-bitcoin-ecosystem\/","title":{"rendered":"# Ordinals protocol sparks debate over NFT&#8217;s place in the Bitcoin ecosystem"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a417560e133f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a417560e133f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ordinals-protocol-sparks-debate-over-nfts-place-in-the-bitcoin-ecosystem\/#%E2%80%9D_Ordinals_protocol_sparks_debate_over_NFTs_place_in_the_Bitcoin_ecosystem_%E2%80%9C\" >&#8221; Ordinals protocol sparks debate over NFT&#8217;s place in the Bitcoin ecosystem &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ordinals_protocol_sparks_debate_over_NFTs_place_in_the_Bitcoin_ecosystem_%E2%80%9C\"><\/span>&#8221; Ordinals protocol sparks debate over NFT&#8217;s place in the Bitcoin ecosystem &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>The recent launch of a nonfungible token (NFT) protocol on the Bitcoin mainnet has the crypto community divided over whether it\u2019ll be good for the Bitcoin ecosystem.\u00a0<\/p>\n<p>The protocol, referred to as \u201cOrdinals,\u201d was created by software engineer Casey Rodarmor, who officially launched the program on the Bitcoin mainnet following a Jan. 21 blog <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/rodarmor.com\/blog\/inscribing-mainnet\/\">post.<\/a><\/p>\n<p>The protocol essentially allows for the Bitcoin version of NFTs \u2014 described as \u201cdigital artifacts\u201d on the Bitcoin network. <\/p>\n<p>These \u201cdigital artificats\u201d can comprise of JPEG-like images, PDFs, video and audio formats. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/84f76ca1-fbef-4efd-adda-448bcfce56a4.jpg\"><figcaption style=\"text-align: center;\"><em>Meme-inspired, NFT-like \u201cdigital artifacts\u201d are now being in<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">script<\/a>ed on the Bitcoin network. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ordinals.com\/inscriptions\"><em>Ordinals.<\/em><\/a><\/figcaption><\/figure>\n<p>The introduction of the protocol has the Bitcoin community divided however, with some arguing that it would offer more financial use cases for Bitcoin, while others say its straying away from Satoshi Nakamoto\u2019s vision of Bitcoin as a peer-to-peer cash system. <\/p>\n<p>Bitcoin bull Dan Held was one of those on board with the development, noting that it would drive demand for block space, and thus fees, while bringing more use cases to Bitcoin. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Why it&#8217;s good: <br \/>&#8211; Brings more financial use cases to Bitcoin<br \/>&#8211; Drives more demand for block space (aka fees)<\/p>\n<p>My take: <br \/>&#8211; If you pay a tx fee, it&#8217;s not spam. <br \/>&#8211; Bitcoin is permissionless. Can&#8217;t stop anyone from building it anyway.<\/p>\n<p>\u2014 Dan Held (@danheld) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/danheld\/status\/1619763083425230848?ref_src=twsrc%5Etfw\">January 29, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Some have <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bitcoinnewscom\/status\/161981128005505843\">pointed<\/a> out that these NFT-like structures have taken up block space on the Bitcoin network, which could drive up transaction fees.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING:  NFTs ON <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw\">#BITCOIN<\/a><\/p>\n<p>Ordinals are taking up most of the BLOCKSPACE  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Gxwq4vV8MI\">pic.twitter.com\/Gxwq4vV8MI<\/a><\/p>\n<p>\u2014 Bitcoin <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> \u26a1 (@BitcoinNewsCom) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BitcoinNewsCom\/status\/1619811280055058439?ref_src=twsrc%5Etfw\">January 29, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Among those include \u201cBitcoin is Saving\u201d on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ercwl\/status\/1619867407941783553\">suggesting<\/a> to its 237,600 followers on Jan. 29 that \u201cprivileged wealthy white\u201d people\u2019s desire to put JPEGs as status symbols may exclude marginalized people from participating in the Bitcoin network.<\/p>\n<p>Cryptocurrency researcher Eric Wall <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ercwl\/status\/1619867407941783553\">disagreed<\/a>\u00a0with the\u00a0opinion that the in-built block size limit will prevent a rise in transaction fees.<\/p>\n<p>Others, such as Blockstream CEO and Bitcoin core developer Adam Back wasn\u2019t happy with meme culture being brought to Bitcoin, who suggested the developers to take the \u201cstupidity\u201d elsewhere:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">&#8220;you can&#8217;t stop them&#8221; well ofc! bitcoin is designed to be censor resistant. doesn&#8217;t stop us mildly commenting on the sheer waste and stupidity of an encoding. at least do something efficient. otherwise it&#8217;s another proof of consumption of block-space thingy.<\/p>\n<p>\u2014 Adam Back (@adam3us) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/adam3us\/status\/1619824591580598272?ref_src=twsrc%5Etfw\">January 29, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, Ethereum bull and host of The Daily Gwei Anthony Sassano took a shot at the Blockstream CEO for wanting \u201cundesirable\u201d transactions to be censored \u2014 which many believe goes against the ethos of Bitcoin:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Adam Back and Luke Dashjr are both Bitcoin core developers who have encouraged censorship over the last 48 hours of these &#8220;undesirable&#8221; transactions<\/p>\n<p>So no, it isn&#8217;t just Bitcoin maximalists &#8211; it&#8217;s actual Bitcoin core developers<\/p>\n<p>\u2014 sassal.eth  (@sassal0x) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/sassal0x\/status\/1619888007515107330?ref_src=twsrc%5Etfw\">January 30, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Stacks ecosystem becomes #1 Web3 project on Bitcoin<\/em><\/strong><\/p>\n<p>In a blog post, Rodarmor explained that the NFT-like structures are created by inscribing satoshis \u2014 the native currency of the Bitcoin network \u2014 with arbitrary content.<\/p>\n<p>These inscribed satoshis \u2014 which are cryptographically represented by a string of numbers \u2014 can then be secured or transferred to other Bitcoin addresses, according to notes in Ordinal\u2019s technical documentation:<\/p>\n<blockquote><p>\u201cInscribing is done by sending the satoshi to be inscribed in a transaction that reveals the inscription content on-chain. This content is then inextricably linked to that satoshi, turning it into an immutable digital artifact that can be tracked, transferred, hoarded, bought, sold, lost, and rediscovered.\u201d<\/p><\/blockquote>\n<p>The inscriptions take place on the Bitcoin mainnet, no sidechain or separate token is needed, the document states.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Inscriptions are finally ready for Bitcoin mainnet.<\/p>\n<p>Inscriptions are like NFTs, but are true digital artifacts: decentralized, immutable, always on-chain, and native to Bitcoin. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/a4dK7zdITS\">https:\/\/t.co\/a4dK7zdITS<\/a><\/p>\n<p>\u2014 Casey Rodarmor (@rodarmor) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rodarmor\/status\/1616567899719860230?ref_src=twsrc%5Etfw\">January 20, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>It appears that only 277 digital artifacts have been inscripted thus far, according to the Ordinals website.<\/p>\n<p>Interestingly, Rodarmor \u2014 admitted in an Aug. 25 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=rSS0O2KQpsI\">interview<\/a> on Hell Money Podcast that Ordinals was created to bring memes to life on Bitcoin:<\/p>\n<blockquote><p>\u201cThis is 100% a meme-driven development.\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ordinals-protocol-sparks-debate-over-nft-s-place-in-the-bitcoin-ecosystem\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ordinals protocol sparks debate over NFT&#8217;s place in the Bitcoin ecosystem &#8220; The recent launch of a nonfungible token (NFT) protocol on the Bitcoin mainnet has the crypto community divided over whether it\u2019ll be good for the Bitcoin ecosystem.\u00a0 The protocol, referred to as \u201cOrdinals,\u201d was created by software engineer Casey Rodarmor, who officially&#8230;<\/p>\n","protected":false},"author":1,"featured_media":545354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/d00adbff-035c-446f-9872-73f55411d9b7.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,81260,74894,95118,74355,116,117],"class_list":["post-545353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-community","tag-blockchain","tag-nft","tag-adoption","tag-art","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/545353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=545353"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/545353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/545354"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=545353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=545353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=545353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}