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Ethereum users have been given another way to create nonfungible tokens (NFTs) and other digital assets on the blockchain with the launch of a new protocol.<\/p>\n
Launched on June 17, the protocol, dubbed \u201cEthscriptions,\u201d is a nod to the Bitcoin (BTC<\/a>) Ordinals protocol<\/a> \u2014 where assets are known as \u201cinscriptions.\u201d<\/p>\n Ethscriptions was developed by music website Genius.com co-founder Tom Lehman, who uses the pseudonym Middlemarch<\/a> on Twitter. Lehman declared the project a \u201chuge success\u201d in a series of tweets on June 17 and noted nearly 30,000 Ethscriptions had been created within the first 18 hours of the protocol going live. <\/p>\n With almost 30k Ethscriptions in I am on Ethscriptions 24\/7, but I need your help!<\/p>\n DM @proroketh<\/a> to join our protocol Twitter chat. Ideas, bug reports, NO alpha, NO trading, NERDS ONLY! pic.twitter.com\/udKdsVT0L8<\/a><\/p>\n \u2014 Middlemarch (@dumbnamenumbers) June 17, 2023<\/a><\/p><\/blockquote>\n According to Lehman, Ethscriptions assets utilize<\/a> Ethereum \u201ccalldata\u201d \u2014 the data within a smart contract \u2014 to allow for a \u201ccheaper\u201d and \u201cmore decentralized\u201d minting process compared to conventional smart contract-based methods. <\/p>\n Users are currently limited to image-only inscriptions, but Lehman says the protocol will allow for different file types to be uploaded in the future. Currently, users are able to \u201cethscribe\u201d any image as long as it\u2019s less than 96 kilobytes in size. <\/p>\n Lehman\u2019s debut project on the Ethscriptions protocol, dubbed \u201cEthereum Punks,\u201d witnessed a considerably positive response from the community, with all 10,000 assets being claimed near-instantaneously. <\/p>\n Introducing Ethscriptions: a new way of creating and sharing digital artifacts on Ethereum using transaction calldata.https:\/\/t.co\/XfQ7RdtblD<\/a><\/p>\n ALSO: Introducing Ethereum Punks. Because why should all non-contract Punk collecting happen on Bitcoin?https:\/\/t.co\/d3Ycwbdc2Z<\/a>\u2026<\/p>\n \u2014 Middlemarch (@dumbnamenumbers) June 16, 2023<\/a><\/p><\/blockquote>\n Lehman added<\/a> the project\u2019s launch garnered so much user activity that the API interface for the official Ethscriptions website temporarily crashed.<\/p>\n Related: <\/em><\/strong>Bitcoin Ordinals to bridge Ethereum NFTs with the launch of BRC-721E<\/em><\/strong><\/a><\/p>\n Due to pre-existing infrastructure that allows for the creation of NFTs and other digital assets on the Ethereum network, it\u2019s unclear if Ethscriptions will witness the same level of popularity as Bitcoin Ordinals has. <\/p>\n In less than six months, the total number of Ordinals inscribed on Bitcoin surged from zero to 10 million<\/a>. The enormous surge in activity was driven in large part by users embracing the novelty of being able to mint assets, which later included entirely new tokens \u2014 by way of the BRC-20 token standard<\/a> \u2014 on the Bitcoin network. <\/p>\n NFT Creator: <\/em><\/strong>\u2018Holy shit, I\u2019ve seen that!\u2019 \u2014 Coldie\u2019s Snoop Dogg, Vitalik and McAfee NFTs<\/em><\/strong><\/a><\/p>\n<\/div>\n\n
Thank you for seeing the massive potential here!<\/p>\n\n