After the introduction of Registrations in Bitcoin by Ordinals, Ethereum introduces “ Ethscriptions “. This technology allows the creation and sharing of digital objects on the network. The project is generating great interest in the community, but only time will tell if this is a lasting trend or a passing fad.
Ethscriptions: a project similar to Bitcoin Ordinals
The new protocol was developed by Tom Lehman, co-founder and former CEO of Genius.com. As its name suggests, the Ethscriptions allow non-financial and arbitrary data to be entered into the Ethereum blockchain. According to the developer, 30,000 Ethscriptions were created in less than 18 hours, which could follow the trend of Bitcoin registrations. These listings are based on calldata of Ethereum which are data provided as part of a call to a smart contract.
All users can register any type of file that is less than 96 kilobytes in size. For the moment, the protocol only allows registering images but this will change in the future. According to Lehman, this protocol is less expensive and more decentralized than contract storage. The term ” Ethscriptions » is a nod to « Registrations which is an Ordinals project deployed on the Bitcoin network.
A project well received by the community
As a reminder, the Ordinals project made it possible to register NFT-like images and other non-financial data included in the main chain’s ledger. Its launch drew some criticism from the maximalist community. However, this is far from the case of Ethscriptions which receives an apparent good reception from the Ethereum community. Indeed, this experimentation stimulates innovation and adoption, as Adam McBride, a specialist in NFT, points out.
The project is a great success with new users of the protocol. Mr. Lehman called for the famous collection of NFT Crypto Punks to be “ethscript”. This led to a listing of 10,000 images within hours. Additionally, Ethscriptions has already suffered several periods of downtime. According to Adam McBride, this technology has been around for years but this is the first time it has become widely known.
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