Bitcoin NFTS are back: What effects do the ordinal have on the blockchain and the old problems?

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Ordinals sind Bitcoin-NFTs zurück auf der Blockchain. Nachdem Ordinals in der Vergangenheit für viel Chaos auf der Blockchain gesorgt haben, stellt sich nun die Frage, ob die alten Probleme zurückkehren werden. Non-fungible Tokens (NFTs) haben in den letzten Jahren viel Aufmerksamkeit erlangt, insbesondere in der Kunst- und Kryptowelt. Diese einzigartigen digitalen Assets werden auf der Blockchain gespeichert und können verschiedene Formen annehmen, wie zum Beispiel digitale Kunstwerke, Sammelkarten oder virtuelle Grundstücke. Eine der bekanntesten Blockchain-Plattformen, die NFTs unterstützt, ist Ethereum. Hier wurden zahlreiche NFT-Marktplätze und -Projekte entwickelt, die Künstlern und Sammlern die Möglichkeit geben, ihre Werke zu verkaufen oder zu …
Ordinals are Bitcoin NFTs back on the blockchain. After ordinals have provided a lot of chaos on the blockchain in the past, the question now arises whether the old problems will return. Non-fungable tokens (NFTS) have achieved a lot of attention in recent years, especially in art and crypto worlds. These unique digital assets are saved on the blockchain and can take on different forms, such as digital works of art, collecting cards or virtual properties. One of the best-known blockchain platforms supported NFTS is Ethereum. Numerous NFT marketplaces and projects were developed here that give artists and collectors the opportunity to sell or to ... (Symbolbild/KNAT)

Ordinals are Bitcoin NFTs back on the blockchain. After ordinals have provided a lot of chaos on the blockchain in the past, the question now arises whether the old problems will return.

non-fungable tokens (NFTS) have achieved a lot of attention in recent years, especially in the art and crypto world. These unique digital assets are saved on the blockchain and can accept various forms, such as digital works of art, collective cards or virtual plots.

One of the best-known blockchain platforms supported NFTS is Ethereum. Numerous NFT marketplaces and projects were developed here that give artists and collectors the opportunity to sell or exchange their works.

However,

in 2021 was a new concept for NFTS, which is referred to as ordinals. Ordinals enable artists to present their works in the form of an ongoing numbering. This led to a new type of NFT collections in which the uniqueness of the work is not in the image or the digital file itself, but in the number it represents.

The concept of the ordinals has not remained without criticism. Some investors and artists believe that this system reduces the experience and value of NFTS, since the uniqueness of the work is no longer in focus, but only in numbering.

To counteract this, a new development has now arisen: Bitcoin NFTS. Bitcoin, the best-known cryptocurrency, has so far played no significant role in the NFT area. This is mainly due to the limited functionality of the Bitcoin blockchain, which makes it difficult to support complex smart contracts and NFTS.

However, there are now platforms and projects that have been specially developed for Bitcoin NFTS. These use Sidechains or Layer-2 solutions to expand the functionality of NFTs on Bitcoin blockchain.

This opens up new opportunities for artists and collectors to sell and exchange their works on the Bitcoin blockchain. It remains to be seen how this development will develop and whether Bitcoin-NFTS can repeat the success of Ethereum nfts.

However, the question remains whether the problems that occurred with ordinals will also occur with Bitcoin NFTS. It is important that the uniqueness and value of the digital works of art are in the foreground and not just numbering.

Overall, the return of the Bitcoin NFTS on the blockchain is an exciting development that has the potential to change the NFT world. It remains to be seen how this market is developing and whether it can repeat the success of Ethereum nfts.