Troubles with Cursed Inscriptions
In an innovative stride, developers of Bitcoin Ordinals have initiated an upgrade to fix over 71,000 invalid or “cursed” inscriptions, thus enabling their trade. These inscriptions earned the term “cursed” due to their creation by misuse of opcodes, rendering them invalid and unrecognized.
The Revolutionary Upgrade
On June 4, leading developers, including Twitter user Raphjaph, announced the rollout of Ordinals protocol version 0.6.0, which is set to start the indexing of previously unrecognized inscriptions. The issue was first addressed in April by Ordinals creator, Casey Rodarmor, who proposed a solution to transform these cursed inscriptions into tradable “blessed” ones.
The Method to the Magic
The upgrade brings support for a variety of cursed inscriptions. This is achieved by setting a block activation height from where specific types of previously invalid inscriptions will be indexed as normal positive inscriptions. Noted Ordinals influencer LeonidasNFT indicated that these inscriptions would soon join the ranks of tradable indexed Ordinals. This upgrade sets the stage for over 70,000 previously invalid inscriptions to be traded following marketplaces’ adoption of v0.6.0.
Unveiling the Value of Bitcoin Ordinals
Bitcoin Ordinals are unique nonfungible asset artifacts enabling the inscription of data onto a Bitcoin’s smallest division, a satoshi. Launched in January by Casey Rodarmor, the protocol quickly gained traction with an influx of inscriptions imprinted on the Bitcoin blockchain. These Ordinals inscriptions, akin to NFTs in terms of rarity and collectability, offer users a unique slice of data etched permanently onto the Bitcoin blockchain. This can potentially increase the value of these early or converted inscriptions over time.
According to Dune Analytics, the craze for ordinal inscriptions has generated $45.5 million in transaction fees from 10.8 million inscriptions since its inception. Rodarmor recently stepped down, passing the leadership mantle to Raphjaph, ensuring the continued development and expansion of Bitcoin Ordinals.
