The incredible success of the Ordinals protocol, which allows data to be registered on the Bitcoin blockchain (BTC), seems to have exhausted its creator. He is stepping down, even though the number of registrations has now exceeded 10 million. What does this mean for Ordinals and the BRC-20?
Creator of Ordinals hands over the reins
In less than six months, the Ordinals project has exploded, making its creator Casey Rodarmor a crypto celebrity. And that seems to have been too much for the developer, who this week announced his departure from the project. Noting that he had not been able to give the Ordinals protocol “the attention it deserves”, he named the developer known as “Raphjaph” as his successor.
I haven’t been able to give ord the attention it deserves, so I am pleased to announce that @raphjaph has agreed to step up as lead maintainer!
Raph is an impoverished student, and his work on ord will be entirely funded by donations. If you can, please consider donating!…
– Casey (@rodarmor) May 28, 2023
He’s a student, and Casey Rodarmor says his work for Ordinals will be funded entirely by donations. He is therefore inviting the community to donate so that the project can continue. For his part, Raphjaph said he would be focusing on creating better documentation in the coming weeks.
The huge success of Ordinals and Bitcoin registrations
The Ordinals protocol, which created a tidal wave on Bitcoin (BTC), needs no introduction. Registrations, which are the equivalent of NFTs, have been the talk of the town, and the subsequent arrival of BRC-20s (thought to be the equivalent of ERC-20s on Ethereum) has been just as hotly debated.
To date, the capitalisation of BRC-20s stands at $433 million, a modest sum all things considered, but the listings have indeed had an effect on the Bitcoin network. Transaction fees have skyrocketed:
The effect of the arrival of BRC-20s on Bitcoin transaction fees
Ordinals has therefore been criticised: the use of Bitcoin registrations is currently particularly limited. Some people are wondering whether this justifies such an increase in transaction fees. For others, the revolution is underway, and this is the most important innovation since the beginnings of Bitcoin. As is often the case, the market will decide who is right.
