Sunday, June 4, 2023

RGB protocol may offer solution to Bitcoin’s Ordinals jam, claims proponent By Cointelegraph


© Reuters.

Gideon Nweze, the founder and CEO of the newly-launched Digital Art and Assets (DIBA) nonfungible token (NFT) marketplace believes there’s an alternative way to bring NFTs to Bitcoin (BTC) that doesn’t impact blockspace and transaction fees.

Nweze recently put this belief to the test, launching a beta version of his NFT marketplace on May 19 that leverages the RGB Smart Contract Protocol to mint NFTs on the Bitcoin network, rather than Ordinals.

The total number of Ordinals inscriptions since inception. Source: Dune Analytics.
Bitcoin NFT marketplace DIBA’s home page. Source: DIBA.