- The recursive inscriptions would allow increased storage and on-chain video games.
- Ordinals fees remained stagnant despite the increase in inscription count.
Bitcoin Ordinals have sought to break the conventional limitations of Inscriptions with one recent proposal. Leonidas.og, one of the pseudonymous developers of Ordinals said this in a tweet where he explained what the new artifacts termed “recursive inscriptions” aimed to achieve.
WTF are recursive inscriptions?
Here is everything you need to know:
Earlier this year the Ordinals Protocol introduced the ability for anyone to inscribe files fully on-chain onto Bitcoin. These inscriptions are self-contained and unaware of the other files that had been… pic.twitter.com/O3jt6lhaxT
— Leonidas.og (@LeonidasNFT) June 12, 2023
Realistic or not, here’s BTC’s market cap in ETH terms
More storage and the chance to…
Expanding on the proposition, the developer noted that the new approach would allow better customization and use cases for the Bitcoin Ordinals project. Currently, Ordinals allow Inscriptions with a bandwidth of under 4 MegaBytes (MB).
So, whether it’s text, audio, or video, packages of inscribed codes were not to exceed that limit. But with the recursive upgrade, Leonidas said,
“So now there is a huge repository of packages for developers to build on top of. This would unlock powerful use cases that could never be done in under 4 MB.”
Notably, the introduction of Ordinals set the grounds for the development of the BRC-20 token standard. This has further evolved into BRC-721.
Unlike BRC-20 which allows fungible token creation, BRC-721, and 721E turned Ethereum’s [ETH] ERC-721 NFTs into tradable assets on Bitcoin. More so, the recursive inscriptions idea is similar to the Bitcoin NFT standard.
Sidechains to transport Ethereum to Bitcoin
Interestingly, AMBCrypto had the opportunity to speak to Bob Bodily about the development. Bodily, who is the CEO of Toniq and leading the development of Ordinals marketplace Bioniq, said that,
“BRC-721E users meta protocol and smart contracts, which act as sidechains to ensure the seamless movement of Ethereum NFTs to Bitcoin.”
Leonidas further mentioned in his tweet that the final deployment of recursive inscriptions would make it possible to have 3D videos on the Bitcoin network. He pointed out,
“Now it becomes possible to put a complex 3D video game fully on-chain on Bitcoin. The sky is the limit. Bitcoin is essentially getting an internal internet where every file can request data from the other files on Bitcoin.”
A look at Ord.io revealed that some 3D games were already live. But from Dune Analytics’ dashboard, Bitcoin Ordinals’ growth has not yet replicated the rise it had earlier in the year.
How much are 1,10,100 BTCs worth today?
Although, the daily Inscription count rose to 174,677 on 11 June, the fees generated did not accompany it with a hike.
Source: Dune Analytics
At the time of writing, the total Inscriptions since inception reached 11.68 million. However, the total fees generate stood at 1702 BTC.
Meanwhile, Leonidas did not fail to highlight that the users would be able to access the recoveries inscriptions on other marketplaces like Ordinals alpha explorer.
