Comment
Author: Admin | 2025-04-28
Sharing mining with Bitcoin.Many old-school cypherpunks argue Bitcoin should focus purely on money and payments. However, others see it as permissionless digital cash that can be used freely.In any case, Ordinals-based NFT usage will likely be minimal - Bitcoin's financial utility and user base overshadow niche NFT interest. As Bitcoin gains value, NFT transactions will become prohibitively expensive regardless.The biggest concern is Ordinals being used for illegal content like child pornography, which would create legal risks for everyone running Bitcoin nodes.Some argue attaching content expands free speech protections for the blockchain. However, illegal material is not protected speech. Just one instance could jeopardize the blockchain's legal standing.Bitcoin NFT TimelineBitcoin Name System (BNS)🌐Decentralized domain names emerged early on with Bitcoin as one of the first non-financial use cases of blockchain technology. In 2011, Namecoin was created as a fork of Bitcoin to allow people to register decentralized domains by modifying Bitcoin's opcodes. Satoshi Nakamoto contributed ideas to Namecoin and was supportive of these types of experiments on Bitcoin's code.How is BNS similar to NFT history?Just as NFTs originated on Bitcoin through Counterparty before Ethereum, the Bitcoin Name System (BNS) as a decentralized naming protocol significantly predates Ethereum Name Service (ENS). The early .bit domains registered on BNS have historic value similar to some of the first NFTs minted on Bitcoin.What are the Different Types of BTC Domains?What are the different Bitcoin address formats?There are currently 4 main types of Bitcoin addresses:Legacy - Starts with 1Nested Segwit - Starts with 3Native Segwit (bech32) - Starts with bc1Taproot - Starts with bc1pThe newer address formats like bech32 and Taproot are more efficient and cheaper to send bitcoin. Knowing the different formats is important to make sure you send to the right address type.How do .BTC domains on Stacks work?BTC.us offers .BTC domains registered on the Stacks layer 2 network. To register a .BTC domain on Stacks, you need to pay the registration fee in STX tokens and use a Stacks wallet address starting with ST1. The domains only work within the Stacks ecosystem.What are Ordinals .BTC domains?Ordinals .BTC domains are registered directly on the Bitcoin layer 1 blockchain. The domain metadata is stored in a JSON file inscription on the blockchain, similar to an NFT. This makes the domains provably scarce and usable as long as Bitcoin exists.GameFi on Bitcoin exists. Not only does Ethereum or the Internet Computer have play-to-earn games, but
Add Comment