- In less than 18 hours, almost 30,000 Ethscriptions were produced.
- With the use of Ethscriptions, any kind of data may be added to the Ethereum blockchain.
There’s a new protocol on Ethereum that lets people create and trade objects. It’s clear that the name “Ethscriptions” is a nod to “Inscriptions,” a related project by Ordinals that was implemented on the Bitcoin network.
Tom Lehman, the former CEO of Genius.com and co-creator of the initiative, noted an immediate surge in interest after its debut on Saturday. In less than 18 hours, almost 30,000 Ethscriptions were produced, as tweeted by Lehman, making the launch a “huge success.”
With the use of Ethscriptions, any kind of data, not only monetary transactions, may be added to the main Ethereum blockchain. Users may inscribe any file type so long as its size is less than 96 kilobytes. However, its inventor claims that this feature presently only supports photos.
Multiple Outages Due to Massive Demand
These inscriptions make use of “calldata,” the information sent along with a call to an Ethereum smart contract. Lehman claims that adopting the protocol instead of contract storage would save money and increase decentralization.
NFT-style photos and other non-monetary data are included in the main chain’s ledger, similar to the Bitcoin Ordinals launch. However, many in the maximalist movement were upset by the introduction of the Ordinals.
The Ethereum community seems more receptive because of its willingness to try new things. New protocol users have shown a lot of interest this weekend, much as they did during the Ordinal mania. Because of this, Ethscriptions had multiple times of outages.
Tom tweeted:
