Ethereum users have been given another way to create non-fungible tokens (NFTs) and other digital assets on the blockchain with the launch of a new protocol.
Launched on June 17, the protocol, dubbed “Ethscriptions,” is a nod to Bitcoin’s (BTC) Ordinals protocol, where assets are known as “enrollments.”
Ethscriptions was developed by the co-founder of the music website Genius.com, Tom Lehman, who uses the pseudonym middle gait On twitter. Lehman declared the project a “great success” in a series of tweets on June 17, noting that nearly 30,000 Ethscriptions had been created in the first 18 hours after the protocol went live.
With almost 30k Ethscriptions in <18 hours, the launch was a huge success!
Thanks for seeing the huge potential here!
I’m on Ethscriptions 24/7, but I need your help!
MD @proroketh to join our Twitter chat protocol. Ideas, bug reports, NO alpha, NO trading, JUST NERDS! pic.twitter.com/udKdsVT0L8
— Middlemarch (@dumbnamenumbers) June 17, 2023
According to Lehamn, the assets of Ethscriptions use Ethereum “call data”, the data within a smart contract, to enable a “cheaper” and “more decentralized” minting process compared to conventional smart contract-based methods.
Users are currently limited to image-only submissions, but Lehamn says the protocol will allow different types of files to be uploaded in the future. Currently, users can “write” any image as long as it is less than 96 kilobytes in size.
Lehman’s debut project on the Ethscriptions protocol, dubbed “Ethereum Punks”, saw a considerably positive response from the community, with the 10,000 assets claimed almost instantly.
Introducing Ethscriptions: a new way to create and share digital artifacts on Ethereum using transaction call data.https://t.co/XfQ7RdtblD
ALSO: Introducing Ethereum Punks. Because why should all non-contract Punk collecting happen in Bitcoin?https://t.co/d3Ycwbdc2Z…
— Middlemarch (@dumbnamenumbers) June 16, 2023
Lehmann aggregate The launch of the project generated so much user activity that the API interface of the official Ethscriptions website temporarily crashed.
Related: Bitcoin Ordinals to Unite Ethereum NFT with BRC-721E Launch
Due to the pre-existing infrastructure that allows for the creation of NFTs and other digital assets on the Ethereum network, it is unclear if Ethscriptions will witness the same level of popularity as Bitcoin Ordinals.
In less than six months, the total number of ordinals enrolled in Bitcoin increased from zero to ten million. The huge increase in activity was driven in large part by users embracing the novelty of being able to mint assets, which then included entirely new tokens, via the BRC-20 token standard, on the Bitcoin network.
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