The Collection of NFTs”Bitcoin punks” ended the coin process (creation) of 10,000 items on the main currency network, after the “Crypto Punks” collection, famous among the Ethereum community, was cloned.
The Bitcoin Punks’ coining process was open to the public and ended with multiple people consuming the items on the bitcoin network.
The new solution to bring the original Crypto Punks to Bitcoin Punks used the technology of ordinal numbers. Some bitcoin fans were excited about the news.
Collection of NFTs Bitcoin Punks completes the process of taking assets from the Ethereum network to become the first collection of 10,000 items on the largest blockchain in the world
According to the Bitcoin Punks Collection, it is the first solution to successfully bring NFTs from the Ethereum network to Bitcoin.
“Bitcoin Punks are the first byte-perfect uploads from the original Ethereum CryptoPunks to the Bitcoin Blockchain using Ordinals.”
After the coining process was completed, bitcoin-traded assets began to attract interest from NFT collectors. With some knowledge, item buyers can even trade their assets through OpenSea.
According to the platform on which the NFTs were created, Ordinals, no changes to the bitcoin network are required to receive the items. So in addition to NFTs, stablecoins and tokens, other Web 3.0 assets can reach the bitcoin ecosystem with the novelty.
Investor excited to spend 3.25 bitcoins on some aliens and apes
According to Twitter profile LeonidasNFT, who introduces himself as an NFT historian, he is excited about the Ordinals’ new technology.
In a post last Thursday (9), he claimed to have spent 3.25 BTC to buy 2 aliens and 6 additional monkeys from the NFT Bitcoin Punks collection. In this Friday’s market quote (10), the investor bought his assets for R$368 thousand in bitcoin.
1/ Why I just spent 3.25 BTC (45 ETH) to acquire these 2 alien and 6 monkey punks on Bitcoin.
(and why I’m excited about ordinal numbers)
— Leonidas.og (@LeonidasNFT) February 9, 2023
For the collector, by allowing a bitcoin satoshi to store information, using Ordinals technology scales the network.
Despite this, part of the bitcoin maximalist community does not like the use of technology to enable the storage of “non-important” assets on the blockchain itself. This is because the cost of transactions on the network increases significantly, in addition to the consumption of block space.
To some, it’s like the new bitcoin NFTs are another network attack, with some of the community signaling that it won’t support the collectibles news. For example, on February 2, 2023, the largest block in bitcoin history sparked controversy among developers.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
