The Bitcoin Ordinals protocol has recently undergone an upgrade, referred to as version 0.6.0, with the aim of addressing the issue of “cursed inscriptions.” Cursed inscriptions are inscriptions that were rendered invalid or unrecognized due to incorrect usage or intentional misuse of opcodes during their creation.
The upgrade, proposed by Casey Rodarmor in late April, involves indexing the previously unrecognized inscriptions and converting them into valid “blessed” inscriptions. The upgrade introduces support for a subset of cursed inscriptions by establishing a block activation height, after which specific types of previously invalid inscriptions will be indexed as normal positive inscriptions.
The upgraded protocol enables over 71,000 existing but previously invalid inscriptions to be supported. Once marketplaces upgrade to version 0.6.0, these inscriptions can be traded. This development is significant for holders of cursed inscriptions as the negative inscription numbers will be shifted due to the upgrade.
Bitcoin Ordinals are nonfungible asset artifacts that allow data to be inscribed onto the smallest unit of Bitcoin, known as a satoshi. Since the protocol’s launch in January, the inscription hype surrounding Ordinals has grown, resulting in congestion and spikes in transaction fees on the Bitcoin blockchain. Similar to NFTs, Ordinals inscriptions are valued for their rarity and collectability, with users seeking unique data etched permanently onto the Bitcoin blockchain.
According to Dune Analytics, approximately 10.8 million ordinal inscriptions have generated $45.5 million in transaction fees since the craze began earlier this year.
In related news, on May 28, Casey Rodarmor announced his departure from the project, passing the leadership to Raphjaph.
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