Litecoin Network Adopts Ordinal Inscriptions, Following Bitcoin’s Lead – Technology Bitcoin News

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Following a rising development of Ordinal inscriptions on the Bitcoin blockchain, the know-how has been ported to the Litecoin community, and the variety of onchain Litecoin inscriptions has surpassed 13,000. Software program developer Anthony Guerrera made Ordinal inscriptions on the Litecoin community doable by receiving 22 Litecoin to port the know-how to the proof-of-work (PoW) blockchain.

Digital Collectibles Are Now Doable on Litecoin

Proponents of the cryptocurrency community Litecoin (LTC) had been happy to listen to that Ordinal inscriptions at the moment are doable on the community. Software program developer Anthony Guerrera accepted a problem to port the know-how to Litecoin after the provide grew from five LTC to 22 tokens.

Whereas Litecoin’s community has a variety of variations, its codebase shares similarities with Bitcoin, together with additions like Segregated Witness (Segwit) and Taproot, which make Ordinal inscriptions doable on the Litecoin community.

“JUST IN: BTC Ordinals at the moment are on Litecoin,” Guerrera tweeted on Feb. 18. The coder additionally shared the open-source codebase hosted on Github and additional defined that he inscribed the primary Ordinal onchain. The developer said:

The primary Litecoin Ordinal has been inscribed on the Litecoin blockchain. The mimblewimble whitepaper will reside inside Litecoin endlessly.

Because the codebase was launched and the primary Litecoin-based Ordinal inscription was shared on Twitter by Guerrera, the variety of LTC-based Ordinals has grown considerably. On the time of writing, there are roughly 13,211 Ordinals on the Litecoin blockchain. Many individuals are sharing their Litecoin Ordinal inscriptions on social media and selling their newly launched LTC-based collections.

In the meantime, the variety of Ordinal inscriptions on the Bitcoin blockchain has surpassed 160,000, and the rising development exhibits no signal of slowing down. Moreover, individuals are constructing infrastructure round Bitcoin-based Ordinals, equivalent to minting instruments that may concern an Ordinal inscription and not using a full node for a base payment, wallets, and marketplaces.

There are additionally numerous collections competing to be the ‘blue-chip’ non-fungible tokens (NFTs) on the Bitcoin blockchain. It’s onerous to say whether or not the development will develop on Litecoin because it did on the Bitcoin community, however after Guerrera minted the primary one, hundreds have adopted. It will likely be fascinating to see if digital collectibles minted on both Bitcoin or Litecoin will enter the established NFT market economic system dominated by chains equivalent to Ethereum.

Tags on this story
Anthony Guerrera, Bitcoin, Blockchain, blue-chip, Codebase, Collections, Cryptocurrency, differences, Digital Collectibles, Economy, Ethereum, github, infrastructure, litecoin, Marketplaces, Mimblewimble, minting tools, NFTs, Non-fungible tokens, Onchain, Open Source, Ordinal inscriptions, ported, Proof of Work, Segregated Witness, Social Media, Taproot, technology, trend, Wallets, Whitepaper

What do you concentrate on Litecoin-based Ordinal inscriptions? Share your ideas within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information concerning the disruptive protocols rising at present.




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