Bitcoin Ordinals boom triggers questions

Ordinals bring a new type of utility to the Bitcoin network that has resonated with users. However, Ordinals have courted controversy after they led to an increase in transaction costs and network congestion.

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Research: Ordinals, BRC-20 drive financial boon for Bitcoin miners

The introduction of NFTs and BRC-20 tokens on the Bitcoin network through the Ordinals Protocol has sparked debate over its effects on transaction fees and chain bloat. Despite these concerns, Glassnode data analyzed by CryptoSlate reveals unexpected benefits for Bitcoin miners.

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Ordinals and meme coins cripple Bitcoin network, core developer claims

Bitcoin Core developer Luke Dashjr has voiced his discontent with the current state of the Bitcoin blockchain, which has been clogged up by the growing popularity of memecoins and ordinals.

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Bitcoin’s Surging Transaction Fees Viewed As “Direct Attack” By A Cross-Section Of The Community

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Ordinals inscriptions approach 4.8M, nearly doubling in just over a week

The BRC-20 token frenzy has seen the number of Ordinals inscriptions on the Bitcoin network soar 92% in just eight days.

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The Impact of Ordinals Protocol on Bitcoin’s Network & Transaction Fees

Explore the transformative impact of Bitcoin NFTs, understand how the Ordinals protocol has driven up transaction fees, and discover what this means for the future of Bitcoin. The post The Impact of Ordinals Protocol on Bitcoin’s Network & Transaction Fees appeared first on NFT News Today.

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Why is the crypto market down today?

The crypto market cap was down 3. 2% in the past 24 hours to $1. 2 trillion as Binance halted BTC withdrawals. The exchange’s action followed massive network congestion for Bitcoin amid increase in fees as tokens with inscriptions and ordinals pumped.

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First Mover Asia: Bitcoin at $28.6K Remains Unstirred by Binance Temporary Withdrawal Pause

PLUS: Bitcoin maximalists find Ordinals annoying. But they are a good thing for the network in the long run.

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Growing Bitcoin transactions highlight Lightning Network’s importance

The industry has always been aware that a time would come when an increase in fees would make Bitcoin transactions hugely impractical. While many assumed the growing cost of transactions would happen with mass adoption, it was the rise of the Ordinals that caused a drastic increase in fees.

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Bitcoin Ordinals Surge to 3M Inscriptions, but Most Are Just Text

Over $8 million in fees have been paid to the network by inscription creators since their inception.

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Over 225,000 bitcoin transactions are unconfirmed as Ordinals bloat mempool

There are over 225,000 unconfirmed transactions in the Bitcoin memory pool (mempool), pointing to increasing demand for the network

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Bitcoin Weekly Transactions Hit New High As Ordinals Mint Goes Past 2.5 Million, Sets New Record

Bitcoin (BTC) Ordinals, popularly referred to as Bitcoin non-fungible tokens (NFTs), are steering a new pathway for the growth of the Bitcoin network despite the harsh criticism from a section of the community in its development phase.

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Bitcoin Daily Transactions Reach New All-Time High, Thanks to Ordinals

Bitcoin has consolidated above $29,000, coinciding with increased Ordinals Inscriptions on the blockchain network. The post Bitcoin Daily Transactions Reach New All-Time High, Thanks to Ordinals appeared first on BeInCrypto.

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Magic Eden Unveils New Bitcoin NFT Ordinals Launchpad for Creators

Coinspeaker Magic Eden Unveils New Bitcoin NFT Ordinals Launchpad for Creators The launchpad will allow Magic Eden to seamlessly onboard creators to the ecosystem and thus easily facilitate the creation of tokens on the Bitcoin network.

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Technical discussions take center stage at Advancing Bitcoin conference in London

Here’s a look back on the highly technical conference in London, where ordinals, silent payments and the Lightning Network were studied and discussed.

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Yuga Labs Explores the Idea of an Existing NFT Collection From Fold 12

Yuga Labs, the company behind the Bored Ape Yacht Club, is exploring the idea of an already inscribed NFT collection fully hosted on the Bitcoin network and in the Ordinals protocol registry by Fold12.

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World’s Biggest NFT Company Yuga Labs Introduces First Bitcoin Ordinals Collection

The largest NFT creation firm will host their first Bitcoin Ordinals project, just as the network passes 200,000 inscriptions.

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Yuga Labs To Mint 300 NFTs On Bitcoin, Will It Be A Gamechanger?

Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) collection, will mint Ordinals inscriptions, similar to non-fungible tokens (NFTs), on the Bitcoin network. Yuga Labs To Mint TwelveFold NFTs On Bitcoin In an announcement on February 27, Yuga Labs said they will mint 300 limited edition generative pieces and inscribe them on Bitcoin’s satoshis.

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Цена токена Stacks прибавила почти 169% за месяц

Курс токена Stacks Network (STX) вырос на 169% за месяц, прошедший с запуска 21 января протокола Ordinals, позволяющего работать с NFT в сети биткоина. Стоимость криптовалюты за 30 дней поднялась с $0,27 до $0,72.

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Litecoin Network Gets Its First NFTs After Developer Forks Bitcoin Ordinals

A copy of the whitepaper of Litecoin’s mimblewimble upgrade was put on the Litecoin blockchain.

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Someone forked Bitcoin ordinals NFTs onto Litecoin network

A GitHub user by the name of ynohtna92 has forked the Bitcoin Ordinals protocol to support Litecoin. The post Someone forked Bitcoin ordinals NFTs onto Litecoin network appeared first on CryptoSlate.

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Bitcoin Layer 2 Stacks Network's STX Token Spikes 50% as 'Ordinals' Boom

Stack Network is a Bitcoin layer 2 for smart contracts aimed at unleashing the world's oldest blockchain's potential as a programmable platform.

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$45 Million in Ethereum (ETH) Gone Forever Since Merge, Here's How Price Reacts

Ethereum seeing surge in network activity following recovery of DeFi industry and even rise of Ordinals

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How the Ordinals movement will benefit the Bitcoin blockchain

The increasing popularity of Bitcoin NFTs, or Ordinals, will positively impact the Bitcoin network’s security and attract developers to the ecosystem, according to Ordinals proponent Udi Wertheimer.

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Record 44 Million Non-Zero BTC Addresses Thanks to Ordinals NFTs

Since the launch of Bitcoin NFTs, Ordinals, a new record of 44 million non-zero Bitcoin addresses has been set, according to the analytics platform Glassnode. After launching on January 21, it’s the first time the Bitcoin network has been used for non-monetary purposes.

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Bitcoin Transaction Fees Hit Highest Level Since November 2022 Amid Ordinals NFTs Craze

Bitcoin Ordinals NFTs have pushed transaction fees on the network to the highest levels since November 2022, shows on-chain data from IntoTheBlock. The post Bitcoin Transaction Fees Hit Highest Level Since November 2022 Amid Ordinals NFTs Craze appeared first on BeInCrypto.

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Bitcoin NFT Ordinals Boosts Taproot Adoption By 1,000% In Q1 2023

The rise of Bitcoin NFT Ordinals is one of the fascinating developments on the leading blockchain in 2023. This has correlated with an increase in the adoption of Taproot to process transactions.   Driving Taproot Adoption On The Bitcoin Network Data from Dune Analytics shows that Taproot adoption has gone from being used in less than 2% of all Bitcoin transactions to reaching a peak of 9.

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Decoding Ordinals NFT project on Bitcoin- Can it compete with ETH NFTs?

Bitcoin-native NFTs recorded a 25% growth in network fees. Bitcoin mining revenue rose sharply, powered by an increase in transactions.  The new Ordinals NFT platform on Bitcoin [BTC] recorThe post Decoding Ordinals NFT project on Bitcoin- Can it compete with ETH NFTs? appeared first on AMBCrypto.

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Bitcoin Activity Hits Highest Since May 2021 As NFTs Gain Steam

On-chain data shows that Bitcoin network activity is now at its highest level since May 2021 as Ordinals NFTs have been rapidly gaining popularity. CryptoQuant’s Bitcoin Network Activity Index Has Shot Up Recently As per data from the on-chain analytics firm CryptoQuant, the BTC network has seen a significant uptick in activity. The relevant indicator […]

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After CryptoPunk NFT Copies Are Minted as Bitcoin Ordinals, Will Bored Apes Follow Suit?

"Byte-perfect uploads" of the 10,000 CryptoPunk non-fungible tokens (NFTs) are on the Bitcoin network now. Will Bored Apes follow suit? The post After CryptoPunk NFT Copies Are Minted as Bitcoin Ordinals, Will Bored Apes Follow Suit? appeared first on BeInCrypto.

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Bitcoin Network Activity Spikes to Two-Year High Thanks to NFTs, CryptoQuant Says

Transactions are coming from the popularity of the recently deployed Ordinals protocol, which allows for NFT-like tokens to be stored on-chain.

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CryptoQuant: Bitcoin Network Activity Spikes to Two-Year High Thanks to NFTs

Transactions are coming from the popularity of the recently-deployed protocol Ordinals, which allows for NFT-like tokens to be stored on-chain.

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Data on Taproot Ordinals points to higher Bitcoin fees, chain bloat

A Taproot Wizard jpeg was mined into the Bitcoin blockchain on February 1, sparking debate on the appropriate use of network resources, particularly inefficiencies due to increased block size. The post Data on Taproot Ordinals points to higher Bitcoin fees, chain bloat appeared first on CryptoSlate.

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Concerning Ordinals.

An objective look at the technical concerns behind Ordinals and the implications on the Bitcoin network.

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Nifty News: Bitcoin NFTs cause spicy fees, Mastercard exec tokenizes resignation letter and more

Users are posting massive files to the Bitcoin network via the Ordinals protocol, taking up block space and paying high fees to do so.

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