Ordinals
Bitcoin Will Be Fine With Monkey JPEGs, Creator of NFT Protocol Says
- Casey Rodarmor first began working on the protocol a year ago
- Recently introduced Bitcoin NFTs, risks backlash from purists
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Some hard-core Bitcoiners are in an uproar over the prospect of ubiquitous internet memes such as pixelated cats and smoking monkeys clogging up the blockchain.
Casey Rodarmor, the creator of the recently introduced NFT protocol called Ordinals that is at the center of the angst, says not to worry. He sees inscriptions, or the newfangled nonfungible tokens, giving the oldest blockchain a fresh use case that can boost its utility. Detractors argue they’ll crowd out regular transactions with high fees due to the large amounts of data required to inscribe the digital images, GIFs and representations, undermining Bitcoin’s original mission as a peer-to-peer payment network.