Bitcoin Ordinals: Controversial but Here to Stay

blockchain.news:

Among the cryptocurrency community, Bitcoin Ordinals, which provide users with the option to permanently store data on the Bitcoin blockchain, have become a contentious issue of discussion. The architects of Bitcoin-focused firms and the CEOs of such companies see promise in the technology, despite the fact that some people are concerned about congestion on the blockchain and objectionable material.

Several people who attended the London conference Advancing Bitcoin noticed the possibility for an abstract meta-layer on top of Bitcoin that records Sats and has a separate state or mapping into the blockchain. This potential was discussed during the conference. Ordinals have been used for a variety of purposes, including the storage of data in the shape of an image or jpeg, as well as the execution of older computer games such as Doom.

Nevertheless, some people have voiced worries about the possibility that Ordinals may cause the blockchain to become bloated, while other people have voiced criticisms over the possibility that inappropriate information could be posted into the blockchain. Ordinals provide a new use case for the Bitcoin network that extends beyond peer-to-peer monetary transactions, in spite of the difficulties raised above.

Ordinals are able to offer a storage solution that is both permanent and censorship-resistant for data and events of cultural significance. Those who desire to maintain lasting recordings of significant events or data, such in the Doom game that was discussed before, would find this to be of great interest. Also, the blockchain's resilience to censorship enables the retention of material that, in other circumstances, may be suppressed or removed. This is a significant advantage.

Alth