If there was any suggestion that the hype around Ordinals—a way of inscribing media onto the Bitcoin blockchain akin to NFTs—had died down, that idea was dashed today. The buzz is only getting bigger and wilder, especially now that someone figured out how to mint a form of “fungible tokens” using the Ordinals protocol.

Ordinal inscriptions surged to a new single-day peak of about 31,700 today, as of this writing, per a Dune dashboard that tracks public blockchain data. And it’s all because of the launch of “BRC-20,” an experimental way to use the tech to let people mint and transfer whatever tokens they please via the Bitcoin blockchain.

It’s the latest evolution in the Ordinals saga that has irritated some Bitcoin maximalists, yet also excited many creators and collectors about the expanding possibilities around the original blockchain network. Now the tech is being used in an analog to the ERC-20 token standard on Ethereum, but it’s still very early and experimental.

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Author: Jason Nelson

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