Bitcoin is making a comeback – Since the beginning of the year, the network Bitcoin experienced renewed interest thanks to Ordinals. Thus, more and more projects are exploiting this technology to offer new applications.
Ordinals and BRC-20s: A new breath of fresh air for Bitcoin
THE Ordinals are a protocol that evolves on the Bitcoin network. This allows to score satoshis to create unique digital artifacts. The process of marking satoshis is called ” Registration“.
Since the beginning of the year, the number of Ordinals registrations has exploded, reaching a new record on April 2 with 72,000 registrations in a single day.
At first, Ordinals were mainly used to issue collections of NFTs on Bitcoin. So much so that studios such as the giant Yuga Labs have taken part in this trend by creating the Twelvefold collection .
Subsequently, the Ordinals allowed the emergence of BRC-20or Bitcoin Request for Comment, a token standard similar to Ethereum’s ERC-20s.
Initially, Ordinals were mainly used for the creation of NFTs, but the introduction of BRC-20 paved the way for the deployment of tokens on Bitcoin. Thus, the network can now accommodate other tokens than BTC, like Ethereum and its ERC-20.
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UniSat: an all-in-one wallet for Ordinals and BRC-20
Faced with the democratization of Ordinals and BRC-20, more and more applications are emerging. Indeed, in the early days, the creation of inscriptions was reserved for scholars.
In addition, sales of NFT Ordinals took place OTC (Over The Counter) creatingreal problems of decentralization and trust .
UniSatis a wallet in the form of open-source Chrome extension that makes it easier to use Ordinals and BRC-20s. It allows you to create, store and transfer NFT Ordinals, without having to run a full node.
“UniSat Wallet is a browser wallet extension. The wallet allows you to receive, store and send NFTs like any classic Bitcoin transaction. With UniSat Wallet, you can enjoy a seamless and hassle-free experience. »
More recently, since version 1.1.15, UniSat supports BRC-20 forwarding.
Finally, UniSat also offers a marketplace for buying or selling BRC-20 tokens, in a decentralized way. However, this marketplace is still in an experimental form. Thus, it should be used with caution.
It is crucial however to remain vigilant before investing in a BRC-20, as most of them can be considered as shitcoins which have a limited value. It is therefore essential to be careful and never invest a large sum. Additionally, UniSat is still in an experimental phase, which means it may be subject to bugs and malicious attacks. It is therefore recommended to exercise great vigilance and not to invest more than you can afford to lose.
Nevertheless, thisnew trend does not only have positive effects on the Bitcoin network. Indeed, the interest in Ordinals and BRC-20 has led to an increase in the number of daily Bitcoin transactions. Unsurprisingly, this increase caused a situation of congestion on the network.
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