The Ordinals fever in Bitcoin is moving to Ethereum with Ethscriptions.
Tom Lehman, co-founder of Genius, has introduced a new protocol for inscribing data on the Ethereum blockchain. It’s called “Ethscriptions” and, as the developer explained, it works in a similar way to Ordinals, which was deployed on the Bitcoin blockchain earlier this year.
Ethscriptions is a protocol that uses call data or “calldata” from transactions to create or “register” any type of file on the Ethereum blockchain.
The goal of this new protocol is to leverage technology to reduce the cost and increase decentralization in the process of minting virtual objects on Ethereum, compared to the smart contract-based technology used by Ethereum and other blockchains such as Solana.
Lehman said that Ethereum should be appreciated as a data store. The launch of Ethscriptions It has been a complete success, surpassing the 30.000 Ethereum signups in just 18 hours. Cryptopunks, one of the most popular and valued NFT collections in the crypto industry, was the first to sign up on Ethereum via Ethscriptions.
The Ethscriptions can be used to upload files to the network. However, at the moment this protocol only allows for the upload of images, Lehman said. In the future, the developer said it will add more features to offer a more complete and secure experience to its users.
Until now, the Ordinals, a project that has inspired the creation of Ethscriptions, have sparked great interest in the crypto community. So far this year, ordinal registrations exceed the 12,7 million registrations, attracting big players like Peter Schiff, who used this technology to launch a project with the pseudonymous artist “Market Price”.
Continue reading: Peter Schiff launches Ordinals-based project on the Bitcoin blockchain
