The team behind Ordinals said on Tuesday that it has created a nonprofit organization to support the development of its protocol for “inscribing” NFT-like assets to the Bitcoin blockchain—right as the total topped 21 million inscriptions to date.

Launched by developer Casey Rodarmor earlier this year, Ordinals quickly established itself as a hotbed for innovation around crypto’s oldest coin. The protocol lets people assign data to an individual satoshi—equal to 1/100,000,000 of a whole Bitcoin—whether that’s art, profile pictures, or even playable games.

The California-based nonprofit, dubbed the Open Ordinals Institute, will back the protocol’s development by funding its core group of developers, including the project’s pseudonymous lead maintainer, Raph.

“It’s very great to scale this up and make a long-term effort,” Raph told Decrypt. “Nonprofits […] can accept donations and can allocate capital to people contributing in a very neutral way, without there being a profit incentive.”

Go to Source to See Full Article
Author: André Beganski

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details