bitcoin infrastructure developer Nostr Assets has suspended deposits following record user activity.
According to a December 5 announcement posted on Telegram, the developers of Nostr Assets warned: “Expect further announcements and do not attempt to make deposits to NostrAssets for the time being.” The service, which allows users to transact Satoshis, or 1/100 millionth of a bitcoin (btc), over the Lightning and Taproot networks, claims to have Incorporated more than 70,000 new users since October 30 and attracted 280 bitcoin in new deposits ($11.8 million) during that period.
On December 4, Fiatjaf, the creator of the Nostr protocol, which It allows users exchanging their social profiles and followers on different platforms, alleged that the Nostr Asset team was operating under an affinity scam. “Nostrassets has nothing to do with the Nostr protocol itself. It simply borrows nostr to name it. No sats should be deposited on this platform,” Fiatjaf said. The accusations have not been proven in a legal institution.
The developers at Nostr Assets dismissed the allegations as “baseless” and wrote:
“NostrAssets uses Nostr, Taproot Assets, and Lightning in its build, making it relevant to Nostr. However, it is crucial to emphasize that Nostr is a decentralized, open source, censorship-resistant relay network that anyone can build on top of.” “.
1/ This thread aims to address unfounded claims made by @fiatjaf. Our key goal in building the NostrAssets ecosystem is to empower developers to build business use cases on both the Lightning Network and Nostr. https://t.co/mcceRECEWL
– Nostr Asset Protocol (@NostrAssets) December 3, 2023
The next day, the total sales volume of non-fungible tokens (NFTs) on the bitcoin network exceeded $1 billion. Meanwhile, Ordinals, a meme token minted on the bitcoin network, reached $1 billion in market cap. Invented by Web3 developer Rodarmor in January, BRC-20 tokens have gained popularity as one of the biggest technological advancements in a 15-year-old blockchain.
bitcoin Ordinals is a numbering system that assigns a unique number to each individual satoshi, allowing them to be tracked and transferred. Combined with the bitcoin enrollment process, which adds an additional layer of data to each satoshi, this allows users to mint unique digital assets on the bitcoin blockchain. However, the current token listed on Binance, ORDI, is not associated with the developers of bitcoin Ordinals.
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