Bitcoin users have utilized the Ordinals protocol to record over 10 million inscriptions on the Bitcoin blockchain, with the majority being recorded in the past month alone. Ordinals founder Casey Rodarmor recently stepped down as the project's lead maintainer. While the primary use case for Ordinals inscriptions was initially for producing non-fungible tokens (NFTs), users have since leveraged the technology to issue fungible crypto tokens, including the first Bitcoin-based stablecoin Stably USD. The transition in Ordinals' dominance from NFTs to BRC-20 tokens is visible on the blockchain, with text-based inscriptions now surpassing image-based ones.
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