- Ordinals protocol’s NFTs created by Casey Rodarmor are taking over blockspace on the Bitcoin blockchain encouraging conversations on “censorship.”
- Bitcoin core developers Adam Back and Luke Dashjr recently spoke in favor of censoring undesirable transactions using the new NFTs.
- BTC developers and believers weighed in on ‘inscriptions’, including 277 digital artifacts, and urged miners to censor transactions.
Bitcoin core developers have critiqued “Ordinals protocol”, a type of NFT launched on the Ethereum mainnet, which recently spread to Bitcoin. BTC maximalists, who believe Bitcoin is a superior digital asset when compared to other cryptocurrencies, have recommended “censorship” of the new NFTs, known as ‘inscriptions´, on the Bitcoin blockchain.
While Ethereum developers are working on making the ETH blockchain censorship-resistant, the BTC community, influencers and core developers are urging miners to censor “undesirable transactions” in inscriptions.
Also read: Here’s what to expect from AAVE V3 launch on the Ethereum mainnet
Bitcoin censorship debate ensues after Ordinals protocols brings meme NFTs to the mainnet
Ordinals protocol, an NFT project launched on the Bitcoin mainnet on January 21 has sparked a debate in the crypto community as to whether NFT-like “digital artifacts” are an appropriate fit for the Bitcoin blockchain.
The development has divided the community. Casey Rodarmour, the creator of the Ordinals protocol announced that “Inscriptions” are finally ready for the BTC mainnet. Rodarmours NFT-like project is decentralized, immutable, always on-chain, and native to Bitcoin.
Inscriptions are finally ready for Bitcoin mainnet.
— Casey Rodarmor (@rodarmor) January 20, 2023
Inscriptions are like NFTs, but are true digital artifacts: decentralized, immutable, always on-chain, and native to Bitcoin. https://t.co/a4dK7zdITS
Inscriptions are made on satoshis, which are tracked and transferred using ordinal theory, this gives them individual identities and allows them to be tracked and transferred across transactions. Inscriptions have started appearing on the Bitcoin mainnet.
Rodarmour’s project has split the BTC community in two, with some arguing that the development offers more financial use cases for Bitcoin, while others say it’s straying away from Satoshi Nakamoto’s vision of Bitcoin as a peer-to-peer cash system. Some Bitcoin proponents and core developers are going one step further and urging miners to “censor” undesirable transactions.
Ethereum proponents are criticizing the call for “censorship” on the BTC blockchain
Anthony Sassano, an Ethereum proponent and developer called out the Bitcoin community for “censorship.” While Ethereum and the ETH development community considers it one of their objectives to make the blockchain “censorship-resistant,” Bitcoin core developers, such as Adam Back and Luke Dashjr, have taken a different stance, announcing over the last 48-hours that miners should censor such transactions on the blockchain.
Bitcoin core developers want miners to censor certain transactions on Bitcoin because they are "undesirable"
— sassal.eth (@sassal0x) January 30, 2023
Ethereum core developers are working to make Ethereum the most censorship-resistant ledger in existence
They are not the same
The crypto community has concerns that users might consider “inscriptions” as status symbols and this may exclude marginalized people from participating in the Bitcoin network. Developers are concerned about meme culture being brought to Bitcoin, suggesting that developers take their “stupidity” elsewhere.
Not long after Blockstream CEO Back is one of those who wants such “undesirable” transactions to be censored. TSassano took a shot at the Blockstream CEO was criticized by Ethereum developer Sassano, for urged miners to censor inscription transactions he was criticized by Ethereum developer Sassano.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Celebrity meme coins controversy continues amid Pump.fun revenue dominance
Pump.fun outperformed the Ethereum blockchain on Tuesday after raking in $1.99 million. Following this achievement, a meme coin based on actress Sydney Sweeney was the subject of controversy after its developers dumped their bags on investors.
PEPE's on-chain metrics indicate potential rally after weeks of silence
PEPE has struggled to see any significant price move after reaching an all-time high in May. Increased adoption rate and low MVRV ratio indicate a bullish run may be on the horizon. A single PEPE outflow from Binance worth $14.7 million gives credence to signs of bullish expectation.
Ethereum has failed to overcome key resistance despite bullish sentiment surrounding ETH ETF
Ethereum (ETH) is down more than 1.4% on Tuesday following another ETH sale from the Ethereum Foundation. Meanwhile, crypto exchange Gemini's recent report reveals that ETH ETF could see about $5 billion in net inflows within six months of launch.
Crypto community blasts Polkadot following report of treasury spending
Polkadot reports $87 million of treasury spending during H1. Crypto community members expressed harsh feelings toward the DOT team's high spending. DOT is up more than 2% in the past 24 hours but risks correction following the report.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.