The use of troot increases in the middle of the increasing interest in order numbers at Bitcoin
The use of troot increases in the middle of the increasing interest in order numbers at Bitcoin
Ordinals-A new and controversial Bitcoin-based protocol-according to the blockchain data provider Glassnode with a record number of taproot-related transactions, makes a name in the chain.
Nevertheless, it is still hotly discussed within the Bitcoin community whether the technology should be celebrated or cursed.
The popularization of ordinal numbers
Ordinance figures were designed by Casey Rodarmor, an employee of Bitcoin Core, to identify individual Satoshis in the network. Satoshis are the smallest unit of a Bitcoin (a hundred millionth of a Bitcoin), named after Bitcin Creator Satoshi Nakamoto.
This Satoshis can contain unique inscribed data such as videos and images-a process that is known as an enrollment. This means that transactions contain NFT-like content in a Satoshi and can be stored in the transaction signature after completing the transmission. The technology is made possible by piling root -a Bitcoin softfork upgrade that was activated in 2021 and brings more data protection and intelligent contracts to the network.
"With the recent interest in inscriptions and orders on #bitcoin, the proportion of the expenses associated with tapotot has increased dramatically," explained the company.
This increase has massively increased the taproot acceptance metric of glassnod to an all-time high of 7.47 % and the tapotot use metric to 2.84 %. In the meantime, logged The largest number of one-day NFT stamps takes place on Sunday, whereby the number has only a clear upward trend.
Many Bitcoin developers are against the increasing use of the Bitcoin block space for this purpose, including Adam Back, the called It is "pure waste and stupidity of coding".
Lightning use increases
The Lightning network from Bitcoin recently has recently been an increased activity with network capacity Woend on an all-time high of 5.354 BTC on Monday. At current prices, this is $ 123 million that are included in the Layer 2 network-which improves the speed and cost efficiency of Bitcoin transactions without bloating the blockchain.
The number of Lightning network nodes recently rose to over 16,000, while the number of open channels is 76,554.
Lightning Labs currently creates a protocol called Taro in hope, tokenized assets-such as NFTS and stable coins-in the Lightning network from Bitcoin.
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