The developers of the Bitcoin Ordinals protocol have released a new upgrade which is designed to fix more than 71,000 invalid or “cursed” inscriptions, thus making them able to be traded.
“Inscriptions that were created through incorrect use or deliberate misuse of opcodes were dubbed ‘Cursed Inscriptions’, resulting in them being invalid and unrecognized.”
On June 4th, a group of developers, among them Twitter user Raphjaph, announced that the Ordinals protocol had been upgraded to version 0.6.0, marking the first step towards indexing inscriptions that had gone unnoticed before.
In late April, Casey Rodarmor, creator of Ordinals, proposed a solution to the problem by recognizing the “cursed” inscriptions and transforming them into “blessed” ones.
The upgrade enabled the system to recognize a selection of previously invalid cursed inscriptions by establishing a block activation height, which allowed these inscriptions to be indexed as valid positive inscriptions.
LeonidasNFT, an influencer on Ordinals, declared that these items would be included in the catalogue of Ordinals that are tradable and indexed, saying:
He further stated that those possessing cursed inscriptions “should anticipate the negative inscription figures to be altered.”
Ordinals of Bitcoin are non-exchangeable items that allow for the inscription of data onto the smallest unit of Bitcoin, a satoshi.
In January, Casey Rodarmor initiated the protocol, and the following month witnessed a surge in demand for inscriptions, resulting in thousands of them being written onto the Bitcoin blockchain, resulting in traffic congestion and an increase in transaction fees.
Ordinals inscriptions have been seen as comparable to NFTs in terms of rarity and desirability. People are interested in a unique piece of information permanently imprinted on the Bitcoin blockchain, so these early or converted inscriptions on satoshis could become of great value in the future.
Supporters and opposers of Bitcoin are voicing their opinions on whether ordinals are beneficial or detrimental.
Dune Analytics reports that since the start of the year, 10.8 million ordinal inscriptions have yielded $45.5 million in transaction fees.
On May 28, Rodarmor declared his resignation and entrusted Raphjaph with the leadership.
Can we make Bitcoin better than Ethereum by using Ordinals, instead of worse?
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