NFT
Wu reported that the BSV community has played an important role in the development of Bitcoin Ordinals and BRC 20. Unisat, the core wallet of BRC20, was created by the Chinese development team of the former BSV community, who also developed Sensible Contract, a smart contract solution on BSV. .
The BSV community has extensive participation in Bitcoin Ordinals and BRC 20. Behind Unisat, the core wallet of BRC20, is the Chinese development team of the previous BSV community, who developed Sensible Contract, a smart contract solution on BSV. By @TechFlowPost
— Wu Blockchain (@WuBlockchain) May 9, 2023
The team behind Ordswap, the first BRC20 trading platform, developed RelayX, the first decentralized trading platform on the BSV network. Twetch, a social application built on BSV, is behind the Ordinals Wallet. In addition, the founder of the Mempool mining pool is a core member of the BSV community.
These advancements have paved the way for Binance NFT Marketplace to announce its upcoming support for Bitcoin Ordinals. Bitcoin Ordinals are a way to create NFTs by linking data to individual satoshis on the blockchain. Each bitcoin consists of 100,000,000 satoshis and the protocol allows identifying and trading each satoshi with additional data attached. The additional data can include text, images, videos or other content and is added to each satoshi via inscription.
Taproot and SegWit’s upgrades to the Bitcoin protocol made this possible. As a result, ordinal inscriptions do not require a sidechain or separate token and real, immutable collections can be created on the Bitcoin blockchain. In the first three months since the launch of the Bitcoin Ordinals, more than one million subscriptions have been made, creating yet another use case for Bitcoin that goes beyond value transfer or storage.
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