The community is divided on whether “digital artifacts” like non-fungible tokens are a good fit for the Bitcoin space.
The recent launch of the Non-Fungible Token (NFT) protocol on Bitcoin’s mainnet has divided the cryptocurrency community on whether it is a good fit for the Bitcoin ecosystem.
This protocol, called “Ordinals”, was created by software developer Casey Rodarmor. He officially launched the program on the Bitcoin mainnet following a blog post on January 21st.
This protocol essentially enables Bitcoin versions of his NFTs called “digital artifacts” on the Bitcoin network.
However, some argue that the adoption of the protocol will divide the Bitcoin community and offer Bitcoin more financial use cases, while others say it departs from Satoshi Nakamoto’s vision of Bitcoin as a peer-to-peer cash system. increase.
Bitcoin bull Dan Held is one of those who have been involved in the development of the block. pointed out that the
Some have pointed out that these NFT-like structures are occupying block space in the Bitcoin network, which could lead to higher transaction fees.
Among them is the Twitter user “Bitcoin is Saving.” On Jan. 29, in front of his 237,600 followers, he said, “Wealthy white people” who want to use JPEG as a status symbol are marginalized. They argued that it could prevent people from participating in the Bitcoin network.
Cryptocurrency researcher Eric Wall disagreed, saying that the block size limit built into Bitcoin prevents transaction fees from rising.
Blockstream CEO and Bitcoin Core developer Adam Back, among others, are unhappy about meme culture being brought into his Bitcoin, suggesting developers should take their “stupidity” elsewhere.
But Ethereum bull Anthony Sassano, host of The Daily Gwei, wanted to censor “undesirable” transactions that many believed were against the spirit of Bitcoin, so Blockstream’s CEO shot