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
  ________________
╱| ______________ ╱|
| ||  |
| |️|  |
| |‍|  |
|╱  ̄  ̄ ̄ ̄  ̄ |╱
 ̄ ̄ ̄ ̄ ̄

— 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
#19468
By OthersideDeployer
Fidenza #772
Fidenza is by far my most versatile algorithm to date. Although the program stays focused on structured curves and blocks, the varieties of scale, organization, texture, and color usage it can employ create a wide array of generative possibilities. Additional project feature(s) => Scale:Jumbo, Turbulence:Low, Colors:Cool, Have Margin:Yes, Spiral:Yes, Soft Shapes:No, Super Blocks:No, Collision Check:No Overlap, Outlined:No, Shape Angles:Curved, Density:High
HaCKittieZ
Who will be the most Meowfool of the Meowfoolest?! 6 HaCKittieZ are fighting for the crown of madness! It is time for crowns to change their history: people, this is the crown of insanity we are talking about. So tell us, who is insaner than the insanest of collectors? Only the artists - the creators - would know, while crowning the one who is brave enough to play with the craziest possibilities of Async programmable art, on these 6 HaCKittieZ. Welcome to the feast of fools. HaCKittieZ is a collaboration of Hackatao, CryptoKitties and Async. The 6 KittieZ are a reinterpretation by Hackatao of the CryptoKitties’ classic elements, following their own style and getting inspiration from their own art pieces.
Ethboy
Young Vitalik takes on the role of Picasso’s son Paulo dressed as Harlequin in this artwork but the octahedron Ethereum logo replaces the chequered pattern of the original jester outfit. Leaning against a large chair, the boy genius fiddles with his fingers in a somewhat nervous manner; nevertheless, he stares directly at the viewer with what appears to be a confident, ‘Mona Lisa-like’ smile. Vitalik has no idea what the future has in store for him, but he’s prepared to face any obstacle ahead as he begins life's adventure.
#79026
By OthersideDeployer