The team behind the Ordinals protocol, led by rodarmor, is establishing the non-profit Open Ordinals Institute to fund developers bringing NFTs to Bitcoin. camgthompson reports
site to share progress on protocol development, the site will now accept donations to the institute through two bitcoin wallet addresses.
Ordinals core developer, Ordinally, shared in a press release that launching a non-profit was the “cleanest way” to compensate developers without compromising the values and goals of the protocol. Erin Redwin, Open Ordinals Institute board member, told CoinDesk that the non-profit hopes to empower developers to help grow the newly-discovered utility of Bitcoin-based NFTs.
“Companies across Web3 ecosystems – including Ethereum, Solana, Stacks, and others – are quickly building Ordinals infrastructure after previously believing NFT-functionality ‘wasn't possible’ on native Bitcoin,” said Redwin. “Given Ordinals' unprecedented pace of adoption and real-world implications for various crypto-economies, we believe it is crucial to fund a strong team of non-corporate funded developers to ensure the security and neutrality of this open-source protocol.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Ordinals break daily inscriptions record, but trading nosedivesModified BRC-20 standard lowers fees and spurs inscription numbers, but demand for Bitcoin Ordinals declines.
Read more »
Pro Trader Peter Brandt Says Bitcoin Halving 'Will Be a Non-Event' – Featured Bitcoin NewsBrandt told his followers that the only thing that matters is bitcoin’s undisputed position as the number one crypto asset. bitcoinetf bitcoinhalving
Read more »
Is Bitcoin on Slippery Slope? Factors Point to Potential $27,000 PlungeWith Bitcoin slipping below the 50 EMA and signs of decreasing network inflows, is a significant price drop on the horizon?
Read more »
Bitcoin, Ethereum Technical Analysis: BTC Starts August Trading Below $29,000 – Market Updates Bitcoin NewsBitcoin dropped below the $29,000 level to start the month of August, as the greenback continued to strengthen versus other G7 currencies.
Read more »
US Representatives Bilirakis and Schakowsky Inquire About Apple's Policies on Blockchain and NFTs – Bitcoin NewsIn the letter, they express their concern about Apple walled garden policies' effect on the development of apps using blockchain tools, which might hurt innovation coming from American companies.
Read more »
How Canadian Crypto Ownership Changed on 2022: Bank of CanadaThe central bank found that only 6% of non-Bitcoin owners appear knowledgeable about the asset.
Read more »