- Recursive encryption will allow for increased storage and on-chain gaming.
- Despite the increase in the number of inscriptions, the fees of the ordinance remained constant.
Bitcoin ordinals have sought to break the traditional boundaries of inscriptions with a recent proposal. Leonidas.org, one of the developers under the pseudonym Ordinals, said this do where he explains that the new artifact is called “recursive inscription” which it aims to achieve.
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Earlier this year the Ordinals protocol introduced the ability to tokenize completely on-chain files to bitcoin. These scripts are self-contained and are unaware of other files that… pic.twitter.com/O3jt6lhaxT
— Leonidas.org (@LeonidasNFT) June 12, 2023
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More storage and…
Expanding on the proposal, the developer noted that the new approach would allow for better customization and use cases for the Bitcoin Ordinals project. Currently, ordinals allow for inscriptions with less than 4 megabytes (MB) of bandwidth.
Therefore, regardless of whether it is text, audio or video, the package of the encoded code should not exceed that limit. But with recursive upgrades, as Leonidas said,
“So now there is a huge repository of packages for developers to build on top of. This will unlock powerful use cases that could never have been done under 4MB.
In particular, the introduction of ordinals laid the groundwork for the development of the BRC-20 token standard. It has further evolved into BRC-721.
Unlike BRC-20, which allows for alternative token creation, BRC-721, and 721E replace Ethereum [ETH] ERC-721 NFTs into assets tradable on bitcoin. Furthermore, the recursive tokenization idea is similar to the bitcoin NFT standard.
Sidechains to move Ethereum to Bitcoin
Interestingly, AMBCrypto got a chance to speak to Bob Bodley about the development. Bodley, who is CEO of Tonik and is leading the development of Ordinals marketplace Bionic, said that,
“BRC-721E users meta protocols and smart contracts that act as sidechains to ensure seamless movement of Ethereum NFTs to Bitcoin.”
Leonidas further mentioned in his tweet that the eventual deployment of recursive inscriptions will make it possible to have 3D video on the bitcoin network. he pointed out,
“It is now possible to run a complex 3D video game entirely on-chain on bitcoin. Unlimited. Bitcoin is essentially achieving an internal internet where every file can request data from other files on bitcoin. “
A look at Ord.io revealed that some 3D games were already live. But from Dune Analytics’ dashboard, the growth of bitcoin ordinals has yet to replicate the growth that took place in the prior year.
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Although the daily inscription count increased to 174,677 on 11 June, the fee generated did not increase.
Source: Dune Analytics
At the time of writing, the total number of inscriptions reached 11.68 million since inception. However, the total fee generated is 1702 BTC.
Meanwhile, Leonidas didn’t fail to highlight that users will be able to access the recovery inscriptions on other marketplaces such as Ordinals Alpha Explorer.
Source: ambcrypto.com
