NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Bitcoin Ordinals Achieve Milestone With Over 10M Inscriptions As Creator Rodarmor Departs

Eli Dambel
Eli Dambel
1 year ago
3 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A prominent non-fungible token (NFT) protocol based on the Bitcoin blockchain, “Ordinals,” surpassed an impressive benchmark in a significant turn of events.

The network’s transaction surged to 10 million a few days after the Ordinals creator, Rodarmor, announced stepping down from the project. 

Related Reading

Pepecoin

Pepecoin Eyes Rebound As It Finds Support In Strong Algorithm Data Score

2 years ago

Reaching over 10 million inscriptions suggests that many transactions have occurred on the protocol. Casey Rodarmor tweeted that he had stepped down as the lead maintainer of Ordinals. 

He claimed that he was not giving Ordinal full attention and handed over the role to a programmer, Raphjaph. He further emphasized that donations from the community will fund the coder’s work on the project.

Ordinals Protocol And Its Rapid Growth

Bitcoin Ordinals is a protocol that supports the transcription of a unique identifier to individual satoshis (SATs) to enable easy tracking during transactions.

After the launch of Ordinals in January, the protocol quickly gained popularity as a means to create new assets on the Bitcoin blockchain. Initially, Ordinals served to “inscribe” data on individual satoshis (the smallest divisible unit of BTC).

However, the rapid growth in the number of Ordinals inscriptions occurred when the BRC-20 token standard was introduced in early March.

Related Reading

Floki Inu

Floki Inu: Does Meme Coin Have What It Takes To Re-Enter Top 100 Spot?

2 years ago

This new token standard, established by the pseudonymous “Domo,” enabled users to mint new tokens on the Bitcoin blockchain. 

According to data from BRC-20.io, in the first week, the number of Bitcoin-based tokens jumped from a hundred to 25,000 at the time of writing.

The introduction of the BRC-20 token standard has expanded Bitcoin’s functionality. This increased utility has boosted the adoption and use of the Bitcoin blockchain for tokenization and asset creation.

Controversy Surrounding Bitcoin Ordinals – Efficiency And Speed Concern

The growth of Ordinals has not been without its share of controversy, as critics among the Bitcoin community have raised concerns about its method of “inscribing” assets on the network.

They argue this approach is “inefficient and wasteful,”, particularly regarding block space and transaction fees.

In response, alternative developers have been exploring using smart contracts to mint assets and non-fungible tokens (NFTs) on the Bitcoin blockchain. They aim to address the efficiency issues associated with Ordinals by leveraging smart contracts.

On the other hand, proponents of the initiative have praised Ordinals for its ability to attract new users to the broader Bitcoin ecosystem. 

Notably, even prominent anti-Bitcoin advocate Peter Schiff recently minted a small number of NFTs on Bitcoin using the Ordinals protocol.

Bitcoin Ordinals Achieve Milestone With Over 10M Inscriptions As Creator Rodarmor Departs
BTC trends sideways on the chart l BTCUSDT on TradingView.com

While the surge in Ordinals-related activity has increased BTC transaction fees, miners have greatly benefited from this heightened network engagement. 

According to data from Dune Analytics, miners have received over $44 million in fees related to Ordinals transactions.

Featured image from Pixabay and chart from TradingView

Tweet123Share196ShareSend
Eli Dambel
Eli Dambel

Eli Dambel

Eli brings an eclectic point of view to market analysis. Currently, he writes about various asset classes, including Crypto and Stocks. Eli has been writing crypto oriented content for almost 6 years now and he is a hard core believer in Blockchain and is confident that it can reform the traditional financial system. He also thinks Bitcoin will become universal currency in the near future.

Read more

You can follow Eli on Twitter: @EliDambel

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

solana-reserve-slowdown-funds-shift-to-emerging-crypto-stocks-tw

Solana儲備機構擴張遇冷:資金轉向新興低價加密股押注成市場新焦點

在加密市場多頭與機構化浪潮重疊的背景下,Solana作為一線公鏈的機構採用進程正加速推進。然而,儘管多家機構紛紛入場、大型資金部署不斷啟動,Solana相關財庫公司與幣價的表現卻未如預期,反映出整體生...

Peter Chow 3 hours ago
Bitcoin

If This Key Support Fails, Bitcoin Could Plummet To $90,000, Warns Leading Analyst

The recent downturn in Bitcoin prices has raised eyebrows among market analysts, with one prominent figure warning that the leading...

Ronaldo Marquez 4 hours ago

Bitcoin Delta Cap And Coinbase Premium Gap Signal Resilient Market Structure – Details

Bitcoin’s (BTC) recent volatility has unsettled investors, as the largest cryptocurrency by market cap slid by more than five percent...

Ash Tiwari 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum, ETH, Crypto

No Ethereum Rally Until Q4? Analyst Eyes Choppy September Before New Highs

Rubmar Garcia 2 hours ago
Bitcoin

Bitcoin Finds Support At Short-Term Holder Cost Basis, But For How Long?

Keshav Verma 3 hours ago
Bitcoin Price Stabilizes

Bitcoin Price Stabilizes – Is This the Start of a Comeback?

Aayush Jindal 3 hours ago

Premium Sponsors

Press Releases

  • LinkLogis Partners with XRP Ledger: DOT Miners Create Up to...

    7 hours ago
  • Arthur Hayes 3 altcoint fedez fel 100-szorosra 2028-ra

    Arthur Hayes 3 altcoint fedez fel 100-szorosra 2028-ra

    9 hours ago
  • Następny Meme Coin 100x w przedsprzedaży? PEPENODE może przyćmić Pepe w 2025 roku

    Następny Meme Coin 100x w przedsprzedaży? PEPENODE może...

    9 hours ago
  • Arthur Hayes odhaluje 3 altcoiny na 100× do roku 2028

    9 hours ago
  • Предварителна продажба на следващия 100× мемкойн? PEPENODE може да засенчи Pepe през 2025 г.

    Предварителна продажба на...

    9 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.