The newly launched divisive protocol allows non-perishable tokens (NFT) assets to be generated on the main bitcoin network by registering satoshis along with the content.
So far, the vignette has included content such as images, documents including a PDF of the bitcoin whitepaper and even a fully playable copy of the video game DOOM.
The 31.2KB DOOM clone (pictured) will be playable forever on Bitcoin. Image: ordinal
On February 2, independent developer Udi Wertheimer tweeted that he made the “biggest transaction in Bitcoin history” after using the Ordinals protocol to record a 3.94MB image of a bearded, sunglasses-wearing therapist praising “magical internet JPEGs”. ”
The data volume of these recorded transactions is much larger than those normally performed on a blockchain, and as a result, this has resulted in higher fees associated with processing them.
Typical Bitcoin transactions can cost a few cents to a few dollars, but Ordinals can cost dozens of dollars by comparison.
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Over the past seven days, figures from crypto mining data provider Hashrate show that fees as a percentage of the block reward have been rising, starting the week at around 1% before jumping to a weekly high on February 1 of 6.74%.
Mastercard NFT potential customer quits on bad terms, resignation letter sold as NFT
The former NFT product lead at payments giant Mastercard has left the company in spectacular fashion, publicly criticizing the company for its alleged mistreatment and displaying his resignation letter as NFT.
On February 2, Satvik Sethi alleged that MasterCard cut his salary by 40% when he moved from New York City to London, claiming he “had to work side jobs in the last year to make ends meet”.
