Bitcoin Ordinal Inscription Surge Past 100,000 Mark, Supporting Infrastructure Develops
If we talk about 9 days ago there were less than 10000 simple inscriptions present on bitcoin’s blockchain and since then inscriptions have seen 1434% copy, which has passed the one million mark and is hosted on a decentralized network at the time of writing. 109988 simple inscriptions made are present. As you can see the trend of inscriptions has seen a growth and that is why many organizations and individuals are building their infrastructure to promote it in more adoption. If we take for example, gamma.io and ordinalsbot.com have developed these kinds of tools that allow people to create simple inscriptions on-chain for an additional fee on top of network fees .
Similar devices have appeared in recent times and are allowing users who do not operate a full node to mint inscriptions. Bitcoin wallet Xverse has launched Ordinal support and people are discussing the two Ordinal marketplaces that allow users to buy and sell Ordinal as well as a clip from his recent tweet and Hell Money podcast. According to reports, a decentralized ordinal marketplace is coming and people have come up with a handy calculator that estimates the current cost of minting bitcoin and on the blockchain. Before the number of simple records reached 100,000, people were discussing how fast it was and how many volumes there were, and people had written their messages before reaching this 100,000 milestone had hoped to mark. Stack’s co-founder, Muneeb Ali, took to bitcoin for smart contracts and tweeted about the latest bitcoin web wallet that’s on the horizon, noting that it will support ordinals, NFTs, and bitcoin layer 2 solutions in addition to native bitcoin will do and regarding this the co-founder of Stack said, “The new bitcoin web wallet release is almost ready”.
As a result of the surge in ordinal inscriptions, the bitcoin network has recorded the largest increase in taproot usage in months and the highest number of transactions in 1 year, and in addition, block sizes above the 3MB range have become common on the bitcoin network.
