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Watch out for Ordinals, 30,000 ‘Ethscriptions’ have landed on Ethereum

Ethereum users got another way to create non-fungible tokens (NFTs) and other digital assets on the blockchain with the launch of the new protocol.

The protocol, called “Ethscriptions,” which launched on June 17, is a nod to Bitcoin (BTC) Ordinal protocol — where the assets are known as “signs”.

Ethscriptions was developed by Genius.com music website co-founder Tom Lehman, who uses a pseudonym Middlemarch on Twitter. Lehman declared the project a “huge success” in a series of tweets on June 17, noting that nearly 30,000 Ethscriptions were created in the first 18 hours of the protocol’s launch.

According to Lehamn, property of Ethscriptions use Ethereum “calldata” – data within a smart contract – enabling a “cheaper” and “more decentralized” mining process compared to conventional smart contract methods.

Users are currently limited to image-only signs, but Lehamn says the protocol will allow for uploading different types of files in the future. Currently, users can “ethscribe” any image as long as it is smaller than 96 kilobytes.

Lehman’s debut project on the Ethscriptions protocol, called “Ethereum Punks”, saw a largely positive response from the community, with all 10,000 assets claimed almost immediately.

Lehman he added the launch of the project generated so much user activity that the API for the official Ethscriptions website temporarily crashed.

Related: Bitcoin Ordinals to bridge Ethereum NFT by launching BRC-721E

Given the pre-existing infrastructure that enables the creation of NFTs and other digital assets on the Ethereum network, it is unclear whether Ethscriptions will witness the same level of popularity as Bitcoin Ordinals.

In less than six months, the total number of Ordinals written on Bitcoin went from zero to ten million. The huge increase in activity was largely due to users embracing the novelty of being able to mint assets, which later included brand new tokens – via the BRC-20 token standard — on the Bitcoin network.

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