Emerging digital asset and NFT protocol ‘Ethscriptions’ is now in the limelight. Snatching inspiration from Bitcoin Ordinals but with an Ethereum-based twist, this marvel of code craft witnessed an overwhelming response, with its first batch of 10,000 assets ‘Ethereum Punks’ being claimed almost instantly.
High demand momentarily crippled the API interface of Ethscriptions’ official website. However, these technical issues didn’t prevent it from hitting the notable milestone of 30,000 mints within just 18 hours of going live — as expressed with joy by the tool’s mastermind Tom Lehman, who operates on Twitter as ‘Middlemarch‘:
With almost 30k Ethscriptions in <18 hours, the launch was a huge success!
Thank you for seeing the massive potential here!
I am on Ethscriptions 24/7, but I need your help!
DM @proroketh to join our protocol Twitter chat. Ideas, bug reports, NO alpha, NO trading, NERDS ONLY! pic.twitter.com/udKdsVT0L8
— Middlemarch (@dumbnamenumbers) June 17, 2023
Ethscriptions vs. Bitcoin Ordinals
Although Ethscriptions is already receiving a notable amount of attention, questions are being raised regarding whether or not it will rapidly rise like Bitcoin Ordinals. In just half a year, Bitcoin Ordinals witnessed a total of inscriptions skyrocket from nothing to a mind-boggling 10 million. The protocol’s fame was spurred by Web3 fanatics’ fascination with being able to mint on the Bitcoin network using the BRC-20 token standard.
That being said, giving Ethscriptions a desirable edge is its revolutionary use of Ethereum ‘call data’ — information integrated within a smart contract, empowering users to mint digital collectibles in a more decentralized and cost-effective manner than other methods. Moreover, Ethscriptions enables users to ‘ethscribe’ image files, given they don’t exceed 96 kilobytes, with plans to accommodate more significant file kinds in the pipeline.
The streamlined and state-of-the-art approach of the NFT protocol Ethscriptions carving an even greater niche is likely. The tool opens up inspiring avenues for the frontiers and collectors of blockchain-based collectibles, with alluring prospects ahead.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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