The Ordinals system, which enables the storage of NFTs on Bitcoin, is facing a new challenge after a developer found a way to introduce a bug into the metadata. The issue occurred when a developer initiated a transaction that didn't output a satoshi but was seen as valid in the Ordinals system, knocking the numbering system that Ordinals uses for its inscriptions off by one. However, the bug doesn't break the main Ordinals system of tracking satoshis, which are linked to collectibles, and only affects inscription numbers, a vanity metric marking the order in which each Ordinal collectible was created. The bug doesn't impact the actual Ordinals themselves, only the inscription numbering system.

Bitcoin (BTC) Ordinals, popularly referred to as Bitcoin non-fungible tokens (NFTs), are steering a new pathway for the growth of the Bitcoin network despite the harsh criticism from a section of the community in its development phase.

Cryptocurrency investment firm Grayscale suggests that Bitcoin Ordinals, also known as Bitcoin NFTs, could boost development and mining fees in the Bitcoin ecosystem. Grayscale highlights that the introduction of Ordinals led to an increase in total fees paid to miners, potentially establishing a sustainable baseline level of transaction fees to incentivize miners and ensure continued network security throughout the lifetime of the Bitcoin network.

Although ordinals are a recent development, they have already amassed over one million inscriptions within a mere four months, even during a bear market.

OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, has upgraded its OKX Wallet and NFT Marketplace to allow users to view and transfer Bitcoin (BTC) ordinals, making OKX the first multi-chain platform to support this capability.

NFTs have been one of the most talked-about topics in the world of cryptocurrency for the last few years. NFTs have gained popularity because they provide a way to authenticate ownership of digital assets.

Bitcoin prices have risen above $30,000 for the first time in over eight months, coinciding with the discovery of an indexing bug in the Ordinals protocol, a platform for minting non-fungible tokens (NFTs) on Bitcoin. The bug led to around 1,200 inscriptions being excluded from Bitcoin, but were all valid. Ordinals protocol allows users to create inscriptions on each Satoshi, the smallest unit of Bitcoin, which can act as NFTs. Compared to smart contracting platforms like Ethereum, NFT enthusiasts say storing files on Bitcoin is relatively cheaper. The Ordinals protocol community has put forward two proposals to address the issue.

April 9 (Cointime) - According to Dune Analytics, the cumulative mintage of Bitcoin Ordinals inscriptions has surpassed 1 million, with the current total standing at 1,007,163. Additionally, the cumulative fee income has reached an impressive 168.2727 BTC.

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Non-fungible token (NFT) marketplace Magic Eden said Thursday it’s rolling out a creator launchpad for Ordinals, helping creators successfully inscribe their Bitcoin-based NFT collections.