Bitcoin prices have risen above $30,000 for the first time in over eight months, coinciding with the discovery of an indexing bug in the Ordinals protocol, a platform for minting non-fungible tokens (NFTs) on Bitcoin. The bug led to around 1,200 inscriptions being excluded from Bitcoin, but were all valid. Ordinals protocol allows users to create inscriptions on each Satoshi, the smallest unit of Bitcoin, which can act as NFTs. Compared to smart contracting platforms like Ethereum, NFT enthusiasts say storing files on Bitcoin is relatively cheaper. The Ordinals protocol community has put forward two proposals to address the issue.

(By Dalmas Ngetich)