MicroStrategy co-founder and Executive Chairman Michael Saylor said the company isn’t just aware of Ordinals, it’s interested in how the protocol that’s set Bitcoin’s community abuzz could lead to software innovation.

In an interview at Bitcoin 2023 in Miami, Saylor exclusively told Decrypt that the software firm is looking at Ordinals and assessing its potential in terms of application development.

Often used to create NFT-like assets on top of Bitcoin, Ordinals launched in January, and the protocol—while not embraced entirely by the Bitcoin community—has created a new wave of experimentation with crypto’s oldest coin.

One recent innovation in the space leveraging Ordinals is an experimental framework for building tokens on top of Bitcoin. It was pioneered by the pseudonymous on-chain data enthusiast Domo in early March. And since then, thousands of other so-called BRC-20 tokens have been created.

All those transactions have been partly—or entirely, depending on who you ask—responsible for elevated transaction fees on Bitcoin. That’s been a boon for Bitcoin miners, who collect transaction fees for their role i

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Author: André Beganski

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