The Rise of Ordinals Protocol
It all began when the mystical Casey Rodarmor unveiled the Ordinals protocol, igniting a creative wildfire allowing users to ‘inscribe’ text and images on Bitcoin. While Bitcoin thought it was the belle of the blockchain ball, surprise, surprise! Litecoin and Dogecoin decided to crash the party.
A Dogecoin Record Like Never Before
On May 18, in a dazzling display of digital enthusiasm, Dogecoin shattered transaction volume records, reaching a whopping 1.2 million transactions in just one day! Talk about a tail wag. Litecoin wasn’t too far behind, strutting its stuff with an impressive 584,000 transactions on May 10.
The Quest for Porting the Protocol
It was a Twitter user named Indigo Nakamoto who fueled this transition by dangling a tantalizing offer of 5 LTC (about $500 back then) to anyone brave enough to port the Ordinals to Litecoin.
“5 $LTC to whoever ports this to #Litecoin!”
And, just like that, the digital community went to work. Eight days later, Anthony Guerrera emerged victorious, launching the Litecoin Ordinals protocol.
Introducing Doginals: We’ve Got Memecoins!
Soon after, the Dogecoin community jumped on the bandwagon, mirroring the Ordinals from Litecoin and branding their creation as ‘Doginals.’ Suddenly, everyone wanted in on the memecoin madness! However, this was merely the start. The real show-stealers were coming…
The LRC-20 and DRC-20 Token Explosion
Fast forward to early May, and the introduction of the LRC-20 and DRC-20 token standards sent both networks into overdrive. Users could now create and unleash their unique memecoins onto Litecoin and Dogecoin. As if that weren’t enough, the enthusiasm across these platforms peaked just as Bitcoin reported a record 400,000 daily Ordinals inscriptions on May 10.
Bitcoin’s BRC-20 Token Standard Takes the Spotlight
In honor of the buzz, the BRC-20 token standard emerged from the shadows, leading to the minting of over 24,000 new tokens on the Bitcoin blockchain! And so the race continued—the Ordinals were now a triple-threat!
Will this frenetic activity cool off or escalate into dizzying heights? Only time will tell, but one thing’s for sure: the blockchain parties are heating up!
