NFTs appeared on the Bitcoin blockchain. This caused a split in the community

Recently, an interesting event took place in the world of cryptocurrencies. A semblance of non-fungible tokens appeared in the BTC blockchain. Technically, this is not exactly an NFT, however, the technology and ideology are quite similar to what we could see in the case of the Ethereum blockchain and other networks.

Casey Rodarmore, thanks to his high programming skills, was able to create the Ordinals protocol, which can create and store certain “digital artifacts” on the bitcoin blockchain. The latter may include various images, videos, text and audio recordings.

Now these “digital artifacts” look like the early days of the Internet and leave a lot to be desired, but in the future, the Ordinals protocol will evolve with user creativity. One of the popularizers of the flagship cryptocurrency, Dan Held, said that the launch of Ordinals is an important event for BTC. According to Held, now the new protocol can increase the value of bitcoin and make it even more competitive.

This, in theory, could lead to an increase in the value of the flagship crypto asset, as now the toolkit and use cases of the blockchain will be expanded. Despite this, there are many users who are negative about the emergence of new features.

Skeptical investors and experts believe that a large number of NFTs on the bitcoin blockchain can lead to an inevitable increase in the size of the commission for online transfers. The reason for this growth was the amount of memory occupied by items from the Ordinals protocol. There are also opposite judgments about raising the commission for transfers. For example, cryptocurrency expert Eric Wall said that in his opinion, limiting the size of blocks should prevent a fee increase.

The invention of Casey Rodarmore was also not appreciated by the authors of the Bitcoin is Saving crypto community. They accused such technologies of curtailing opportunities for the poorer population in favor of the rich. According to them, now “marginalized groups of residents from developing countries will pay more just because the rich want a JPEG drawing as a status symbol on the blockchain.”

There are quite a few opponents of the decision to create NFT tokens on the Bitcoin blockchain. Fans of the flagship cryptocurrency are convinced that non-fungible tokens are completely contrary to the basic concept of the bitcoin blockchain. Satoshi Nakamoto, who created this network, wanted first of all to create a good payment system, and not some kind of entertainment platform. The initial purpose of the appearance of the Bitcoin blockchain is to create an excellent alternative for the usual payment system. However, no one can prevent people from issuing non-fungible tokens.