Meet Ordinals, the New Bitcoin NFT Engine, and the Drama Surrounding Them – Featured Bitcoin News

in November, which extended the length of Bitcoin transactions to almost the whole size of a block.

This has been key for what’s currently happening. Before Taproot, transactions could only be 80 bytes in size, limiting the usability of what was stored in the block space. Now, Bitcoin NFTs are being saved directly on the chain, enabling the benefits of portability, durability, and decentralization that characterize Bitcoin.

This could present unique benefits for content creators and users, given that each piece of content stored on the blockchain via Ordinals will have to be synced by each node out there, giving them the longevity of the blockchain itself. Most NFT projects that harness other chains, Ethereum included, just store pointers to the information, that does not reside directly on the blockchain.

The first group alleges that this is a net positive for the chain and that it will contribute to bringing more fees and uses cases for the chain. This is the case of known bitcoin-influencer Dan Held, whothat each transaction paying its fee is not spam and that the chain is permissionless for anyone to build on top of it.

The second group states that, even if there is nothing that they can do to stop it, this will hurt Bitcoin’s financial and transactional use case. Blockstream CEO Adam Back,

One man's trash is another man's NFT !😢

NFTs on Bitcoin is a:

It’s literally a blackhole in the Bitcoin network

Totally agree, but I only use ChiefraFba for signals and analysis

So crazy that you'd want to risk Bitcoins health with this. Just I use a different blockchain that was designed with that in mind.

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