- The new upgrade would make “cursed inscriptions” blessed and tradable.
- The increase in the number of registrations is mild.
Bitcoin [BTC] Ordinals developers have implemented the “first steps” to overcome the challenges associated with “cursed inscriptions” on the network. The name Cursed Inscriptions erroneously refers to the unrecognized assets made due to the misuse of opcodes to subscribe assets to satoshis.
A solution can be worked on
According to the version 0.6.0 update, the rollout would provide for the authentication of a Bitcoin username and password. In addition, the upgrade would allow zero-sat transactions to be disconnected from Enrollments.
In April, the creator of Ordinals Casey Rodarmor suggested making the cursed assets tradable. But Rodarmor has since stepped down. And the released upgrade added that Raphjaph, one of the developers, has been promoted to lead maintainer.
Leonidas.og, the builder of the ord.io project on Bitcoin Ordinals, as well as a BRC-20 token, also shared some insights about the development.
Version 0.6.0 of the Ordinals Protocol has just gone live!
Here’s everything you need to know about this major update:
Many previously unrecognized inscriptions are now indexed by the Ordinals Protocol as “Cursed Inscriptions”. This is important because over 70,000 exist, but… pic.twitter.com/Mh1pArg2p9
— Leonidas.og (@LeonidasNFT) June 4, 2023
According to the creator, the transformation of the more than 70,000 cursed inscriptions into blessed inscriptions would lead to positive inscription numbers. He pointed out:
“If a new edge case is found and a new type of cursed inscription is added, the existing cursed inscriptions are re-indexed and the new cursed inscriptions are inserted that shift around the negative inscription numbers. Anyone who owns cursed inscriptions should expect the negative inscription numbers to be shifted.
In recent months, the emergence of Bitcoin Ordinals has taken the crypto community by storm. Recently, the number of registrations crossed the 10 million market. This confirmed the increasing interest in the digital artifacts created on the Bitcoin network.
Weakening momentum
However, information from Dune analysis showed that Enrollment growth has been relatively stunted since the 10 million mark.
While the total number of subscriptions rose to 10.91 million, the crypto query data platforms showed that the number of subscriptions only increased by 133,000 on June 4. An explanation of this data points to reluctance to increase asset minting on the network.
Source: Dune analysis
Launched in January, the creation of Bitcoin Ordinals sparked controversy in the crypto space. For some, there was no need to add features that were inconsistent with blockchain fundamentals.
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However, others thought it wasn’t a bad idea to experiment on the network. The result of the test, including BRC20, has now ended positive, and vice versa.
At one point, the rapid increase in Ordinals transactions caused delays in transactions on the network. On the other hand, miners could use a increase in fees and income.