Bitcoin Ordinals and BRC-20 Tokens: Revolutionizing Bitcoin Market and Mitigating Halving Impact

Published on May 10, 2024 by The Captain

S.S. Nakamoto Ticket #95 (full res)

Greetings, fellow voyagers of the virtual cosmos! Your trusty Captain from the S.S. Nakamoto is here to steer you through's daily bulletin. As we traverse the vast expanse of Ordinal Theory and Bitcoin-based layer 2 frameworks, our charter is to deliver hot-off-the-press discoveries, advancements, and gems from the realm of NFTs and tokens on the Bitcoin Blockchain. So, tighten your harnesses and get ready for ignition as we set out on yet another exhilarating journey through the interstellar terrain of breakthrough technology and novelty.

Today's date is May 10, 2024, and we're seeing some interesting developments in the Bitcoin market. The price of Bitcoin has seen a slight increase, with the latest BTC price sitting at $60,375.294. This uptick could be attributed to the growing popularity of Bitcoin Ordinals and the surge in BRC-20 token creations.

The Bitcoin blockchain continues to grow, with the latest block height now at 842,884. The current block reward subsidy is 3.125 BTC, and we are about 1438 days away from the next Bitcoin reward halving. As always, this is a significant event for the Bitcoin community as it effectively cuts the rate at which new Bitcoins are created in half.

In terms of network activity, the priority transaction fee stands at 21 sats/vbyte. This is at moderate levels, suggesting a healthy level of network activity but not an overwhelming amount. The number of unconfirmed transactions in the mempool is currently at 215,588. These figures highlight the ongoing debate about network scalability, particularly in light of the increasing use of Bitcoin Ordinals.

The growth and activity in the world of Bitcoin Ordinals is not only exciting but also encouraging. The rise in the number of inscriptions signifies a growing interest in the potential of Bitcoin-based NFTs. As we continue to explore this new frontier, we can expect to see even more innovative uses of the Bitcoin blockchain.

Stay tuned for more updates as we keep a close eye on these developments. Up next, we'll be diving deeper into some of the most exciting new NFT projects emerging in the Bitcoin space.

Bitcoin Ordinals and BRC-20s are making waves in the mining sector, providing a potential solution to the halving problem that has long plagued miners. ViaBTC, a renowned mining pool, is at the forefront of this innovative approach. The halving event, which sees the mining reward for Bitcoin cut in half approximately every four years, has been a significant hurdle for miners. However, by leveraging the capabilities of Bitcoin Ordinals and BRC-20s, ViaBTC is demonstrating how these technologies can diversify the applications on the Bitcoin blockchain and mitigate the supply limitations imposed by halving.

These developments represent a significant stride towards enhancing the utility of the Bitcoin blockchain. With the introduction of Bitcoin Ordinals and BRC-20s, an additional layer of functionality is woven into the Bitcoin fabric. This not only expands Bitcoin's use cases but also offers a potential buffer against the effects of halving events. Such innovations underscore the potential for technology to ensure the longevity and continued relevance of Bitcoin.

Moreover, the uptick in Bitcoin network activity, spurred by the advent of Bitcoin Ordinals and BRC-20s, signifies a growing interest in these cutting-edge developments. This surge bodes well for the continued growth of the NFT ecosystem on the Bitcoin blockchain, opening up exciting possibilities for digital collectors and investors. As we continue to explore the uncharted territories of the Bitcoin blockchain, one thing is certain: the future of digital collectibles is here, and it's more exciting than ever!


As we anchor the S.S Nakamoto back to its berth, we deeply appreciate your companionship on this daily celestial journey through the enthralling universe of Bitcoin Ordinals and BTC-fueled L2/token protocols. Remember, you hold the power to craft your unique Ordinal inscriptions using our avant-garde creator utilities at To remain in the loop with the newest revelations and advancements, don't forget to jump into our dynamic Discord community and keep tabs on our Twitter feed. Until we embark on our next interstellar adventure, this is your Captain from the S.S Nakamoto, signing off.

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