31/01/2024 ‘No such thing as spam’ — OKX exec on Bitcoin Ordinals

OKX chief innovation officer Jason Lau argued that in open and permissionless networks like Bitcoin, all transactions are valid as long as they pay fees and conform to consensus.

‘No such thing as spam’ — OKX exec on Bitcoin Ordinals

While some consider the Ordinals protocol anuisance to Bitcoin, others double down on its bet on the place of nonfungible tokens (NFTs) in the Bitcoin ecosystem.

On Dec. 18, OKX’s NFT marketplacesurpassed its competitorsin daily trading volume as traders became more interested in Bitcoin-based NFTs. Doubling down on the move to support Bitcoin NFTs, the company announced on Jan. 29 that it will add Atomicals and Runes to its marketplace. In addition, it will also add Dogecoin’s Doginals, venturing into supporting Ordinals in other chains.

Apart from its marketplace, OKX also announced that it would support the token standards from Atomicals, Stamps, Runes and Doginals on its Web3 Wallet.

Guess which#BitcoinNFT collections are in the gallery
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— OKX (@okx)December 18, 2023

While OKX openly supports Ordinals and other Bitcoin protocols, other Bitcoin ecosystem members explicitly expressed their dislike of Bitcoin Ordinals, with some evendubbing Ordinals as digital spam. However, Jason Lau, the chief innovation officer at crypto exchange OKX, disagrees.

Lau told Cointelegraph in a statement that “there is no such thing as spam” in open and permissionless networks like Bitcoin. The executive believes that all transactions are valid as long as the fees are paid and they conform to consensus rules. He added:

“Historically, OKX has been a strong supporter of the Bitcoin ecosystem, being one of the earliest to support upgrades like SegWit, Taproot and Lightning, and Ordinals are no different.”

The executive also argued that Ordinals and inscriptions can open up new use cases for users and provide a new design space for developers. “Inscriptions have the potential to be powerful digital collectibles as they store data and art on-chain and allow for new types of NFTs to be created.”

On Dec. 19, half a dozen blockchains, including Arbitrum, Avalanche, Cronos, zkSync and The Open Network,experienced full or partial outages. This was because of a frenzy of transaction activity driven by people creating inscriptions on other networks, similar to Bitcoin Ordinals.

When asked about inscriptions’ potential to clog up blockchains, Lau described these as “growing pains.” According to the executive, these are inevitable in the early stages of adoption. Lau said that dealing with such issues is “normal” but will get resolved as time passes.

“While it’s still early stages for the inscriptions ecosystem, we see a unique opportunity for inscriptions to grow as we expand our support beyond just BRC-20 to include emerging standards like Atomicals, Stamps, Runes and Doginals,” Lau explained.

Arts

https://cointelegraph.com/news/okx-nft-bitcoin-ordinals-not-spam-atomicals-runes-doginals-stamps

Interesting NFTs
The River Plate Machine
Digital illustration for the cover of These Football Times magazine in its issue dedicated to the Argentine football team "Club Atlético River Plate". Original from 2020. For this cover I have created a complex machine that links all the generations and legends of the club with its great shield and emblem crowning the center as the heart of the fantasy machinery. Full of details and ornaments this is a highly detailed work. An authentic trip to the history of River through the imagination and the colors of the club. The most significant titles of the club are also included, such as the Libertadores Cup, the famous Intercontinental and the new Super Liga and the Argentine Cup in its newest cup design. If you see a hen, don't be surprised, it is the nickname that its fans give themselves, and they like it. ----- https://javierarres.com/about.html
CryptoKitties
Aloha! My name's Kitty #193746. I once peed on Confucius's cat. They had it coming. I would give it all up to star in a soap opera. Maybe you and I can be partners in crime.
Right Place & Right Time (bitcoin hourly price offset)
Each day, a new composition for the Master is generated autonomously using a data feed of Bitcoin's last 24 hours of price action. Each hour's price programmatically controls rotation, scale, and position of a correlating layer. Astute viewers will surmise the day's price volatility simply by examining the artwork. While the daily image generation is the result of autonomous API calls, utilizing an algorithm the artist wrote, the artist has chosen to retain a control token. This token allows him to fine-tune variables associated with his algorithm, in addition to addressing aesthetic concerns within the life-cycle of the artwork. Layer state, alpha, hue, saturation, and brightness are elements the artist has retained control of in order that this artwork remain a living work-in-progress. An earlier iteration of this artwork was featured as a nightly projection mapping video on the face of the Daniels Fisher Clocktower, as part of ETH Denver 2020. Access to this and additional exclusive content awaits the master token owner at the artist's NFT Portal: https://collect.mattkane.com/minted-works/right-place-right-time-bitcoin-hourly-price-offset/
Her Mind Had Gone Out For A Stroll & Fallen Down The Rabbit Hole
Her Mind Had Gone Out For A Stroll & Fallen Down The Rabbit Hole' is the first programmable piece of art by Kitty Bast. The owner constructs, modifies & tattoos their very own Doll Lady... Is she falling down a rabbit hole, lost in a sea of cats or gazing into the unknown void? Do you like Pink Ladies or Lilac Ladies? Or do you pick the Wild Card? There's always a wild side to an innocent doll face. Is she obsessed with crypto ponies or crypto kitties? Or does she have an insatiable desire for Mr. Honey Badger. Come inside and have a nice cup of NFTea with the bunnies. Is your lady chained to the blockhain? Does your lady shed Bitcoin tears or ETH tears? Does your doll face don a Rotten Heart? Do you HODL to the Moon to meet the ETH Kitty? Do you have an obsession for cyborgs or Puddin'? Would you like a slice of Death by Pink? Is The Cat's Eye green or golden? Little trolls with mini daggers not included. The cheshire cat might trade you his ears for your goggles. Modifications of the Host. How long is forever? Sometimes, just one second.
#57512
By OthersideDeployer