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COINTURK NEWS > Bitcoin (BTC) > Bitcoin Ordinals Protocol Changing Code System: A Proposal from the Founder
Bitcoin (BTC)

Bitcoin Ordinals Protocol Changing Code System: A Proposal from the Founder

In Brief

  • Bitcoin Ordinals founder and lead coder Casey Rodarmor has made a new proposal through his X account. According to this recent proposal, Rodarmor suggests simplifying the code base of the protocol by introducing a numbering system. Although the change has sparked reactions among some users, Rodarmor and community members emphasize that the new numbering system […]
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Bitcoin Ordinals founder and lead coder Casey Rodarmor has made a new proposal through his X account. According to this recent proposal, Rodarmor suggests simplifying the code base of the protocol by introducing a numbering system. Although the change has sparked reactions among some users, Rodarmor and community members emphasize that the new numbering system is similar to the old system.

Contents
A Noteworthy Sharing from the Founder of OrdinalsWhat is the Ordinals Protocol?

A Noteworthy Sharing from the Founder of Ordinals

Ordinals assigns a unique serial number to each NFT generated by the coding system since the protocol’s inception. These codes serve a similar function to serial numbers and form the infrastructure of minted NFTs in the protocol.

However, according to Rodarmor, the continued use of these codes leads to a halt in the development of the protocol and makes the infrastructure systems look “ugly.” Due to these two reasons, the lead coder of Ordinals proposes to permanently destabilize the numbers. In other words, the aim is to remove this protocol applied to NFTs created on the Bitcoin network.

According to the founder of Ordinals, this move will simplify the code base of the protocol and enable easier protocol updates in the future. Rodarmor also mentioned that the serial codes will change, but these codes will continue to exist in the protocol. He added that the difference between the new code system and the old code system is only 1%.

What is the Ordinals Protocol?

While this move received support in comments made through X, some users expressed their reaction to the rearrangement of numbers as it would affect their codes, for which they paid significant amounts. Despite all this, a community member noted that serial code holders would be able to sort their collections based on timestamps, bringing reassurance to many users.

Bitcoin Ordinals emerged with the aim of writing code for the smallest unit of Bitcoin, a satoshi. The protocol was introduced in January 2023, and since then, thousands of NFTs and tokens have been minted on the BTC network. According to data released on August 21, the protocol accounted for 84.9% of all activities in the Bitcoin ecosystem.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 20 September, 2023 - 4:25 pm 20 September, 2023 - 4:25 pm
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