S.S. Nakamoto Ticket #31 (full res)
Greetings, companions of the crypto cosmos! As the skipper of the S.S. Nakamoto, I extend a warm welcome to you all on Ordinal-Drop.com's daily dispatch. Our voyage across the vast expanse of Ordinal Theory and BTC-centric layer 2 protocols is guided by our commitment to deliver the newest breakthroughs, updates, and hidden gems in the realm of NFTs and tokens on the Bitcoin Blockchain. So, secure your harnesses and brace for an exhilarating journey as we traverse the infinite expanse of avant-garde technology and innovation.
Today's date is January 10, 2024. Bitcoin is currently trading at $46,465.675, with the latest block height at 825172. Miners are still reaping a block reward subsidy of 6.25 BTC, although with an estimated 103 days until the next reward halving, this will soon change.
The network is buzzing with activity, with high priority transaction fees at 41 sats/vbyte. This high fee level indicates a surge in demand, possibly driven by the growing interest in Bitcoin Ordinals and the BRC-20 token standard.
The mempool, where all the valid transactions wait to be confirmed by the Bitcoin network, is currently filled with 261332 unconfirmed transactions. This is likely due to the increasing popularity of Bitcoin Ordinals, which has significantly expanded the NFT ecosystem.
The number of Ordinal Inscriptions created has been on a steady rise, reaching over 1M in April 2023. This explosive growth has driven up Bitcoin network fees and sparked renewed discussions about scaling solutions.
As the world of Bitcoin Ordinals continues to evolve, we can expect to see more innovation and utility in the blockchain and cryptocurrency industry. From unique art projects to initiatives aimed at increasing mass adoption, the future of BTC looks brighter than ever. Stay tuned for more updates as we navigate this exciting journey aboard our spaceship, the S.S. Nakamoto.
Bitcoin Ordinals' volume surges to $210M: DappRadar The latest report from DappRadar reveals that the volume of Bitcoin Ordinals surged to an impressive $210 million in Q2 2023. This surge is a clear indication of the growing interest in the potential of Bitcoin Ordinals, as well as the increasing acceptance of the Bitcoin blockchain as an effective platform for NFTs. The report also highlighted that over one million unique inscriptions have been created, further emphasizing the popularity of this innovative protocol. However, this burgeoning popularity brings with it the challenges of scalability and transaction fees - issues that the Bitcoin community will need to address. Despite these potential hurdles, the report paints a promising picture for the future of Bitcoin Ordinals in the burgeoning NFT market.
Vitalik Buterin praises Bitcoin Ordinals, sees potential for 'multi-chain' future In a recent discussion, Ethereum creator Vitalik Buterin has lauded the development of Bitcoin Ordinals, despite the protocol's current scalability issues. Buterin acknowledged the potential of Bitcoin Ordinals to breathe new life into the Bitcoin blockchain, which has seen relative inactivity compared to the bustling DeFi and NFT markets on Ethereum. He also outlined a potential future where Bitcoin Ordinals and Ethereum could work synergistically, suggesting a 'multi-chain' future. This is an exciting prospect, as it could pave the way for broader adoption and collaboration across different blockchains. Bitcoin Ordinals and the BRC-20 standard could potentially create a whole new ecosystem of digital collectibles on the Bitcoin blockchain, sparking renewed interest and activity.
Bitcoin Ordinals immortalize Gensler's ETF tweet on the blockchain In a fascinating turn of events, a tweet by SEC Chairman Gary Gensler discussing the SEC's approach to cryptocurrencies has been immortalized on the Bitcoin blockchain using Bitcoin Ordinals. An anonymous user utilized the protocol to inscribe the tweet onto a single satoshi, effectively creating a unique NFT of Gensler's tweet. This marks a significant milestone, as it is the first time a tweet has been immortalized via Bitcoin Ordinals. This development highlights the potential of Bitcoin Ordinals to create unique and historically significant NFTs, opening up possibilities for artists, historians, and collectors. It also has the potential to generate more interest and adoption in Bitcoin Ordinals, demonstrating the innovative capabilities of this new protocol.
Vitalik Buterin applauds Bitcoin Ordinals for reviving builder culture on Bitcoin In a recent interview, Ethereum creator Vitalik Buterin praised Bitcoin Ordinals for reinvigorating the builder culture within the Bitcoin community. Buterin highlighted the importance of building on existing technologies to innovate and create, and expressed admiration for the way Bitcoin Ordinals has introduced NFTs to Bitcoin. This endorsement from Buterin has brought increased attention and interest to Bitcoin Ordinals, and holds promise for the further expansion of the NFT ecosystem on Bitcoin. It's refreshing to see such cross-chain appreciation and unity in the blockchain space, as it's this collaborative spirit that will truly revolutionize the industry.
Bitcoin Ordinals used to preserve Nintendo games In an innovative twist, Bitcoin developers have begun encoding Nintendo games within Bitcoin Ordinals. Thanks to the expanded data capabilities provided by the SegWit and Taproot updates, these developers have inscribed game data onto individual satoshis, effectively turning them into playable games. This is a groundbreaking development in the world of NFTs, and it showcases the versatility of Bitcoin. By embedding Nintendo games within Bitcoin Ordinals, the developers have transformed the static nature of most NFTs into dynamic experiences, potentially attracting a new demographic of users to the Bitcoin blockchain and contributing to the overall health of the ecosystem. This is a perfect example of how blockchain technology is pushing the boundaries of digital innovation.
Sources:
- https://blockchain.info
- https://mempool.space
- https://www.ordinalhub.com/
- https://brc-20.io/
- Bitcoin developers to preserve Nintendo games on Ordinals
- Less Than 15,000 Blocks to Halving: ETF Hopes and Ordinal Inscriptions Serve as Life Preserver for Bitcoin Miners
- Gensler's Compromised Bitcoin ETF Tweet Inscribed as an Ordinals NFT
- Gensler's 'SEC Twitter Account Was Compromised' Tweet Is Now An Ordinal 'Immortalized On Bitcoin Forever'
- Bitcoin Ordinals immortalize Genslers ETF tweet on blockchain
- Bitcoin Ordinals gets Vitalik's acclaim despite this 'con'
- Vitalik Buterin Applauds Ordinals for Reviving Builder Culture on Bitcoin
- Vitalik Buterin Lauds Bitcoin Ordinals, Believes BRC-20 Standard Could Revive Stagnancy
- Vitalik Buterin says Ordinals have revived builder culture on Bitcoin
- Bitcoin Ordinals volume hits $210M in Q2 DappRadar
As we bring the S.S. Nakamoto back to the spaceport, we want to extend our gratitude for accompanying us on this daily odyssey through the intriguing universe of Ordinal Theory and Bitcoin-rooted L2/token standards. Remember, you have the power to craft your own unique Ordinal inscriptions using our advanced builder tools available at Ordinal-Drop.com. To keep in the loop with all the fresh news and advancements, we encourage you to join our dynamic Discord assembly and follow our updates on Twitter. Until we embark on our next interstellar expedition, this is the Captain of the S.S. Nakamoto, signing off.
Tonight's Portside view