Litecoin Network Adopts Ordinal Inscriptions, Following Bitcoin’s Lead
Following the growing trend of ordinal inscriptions on the Bitcoin blockchain, the technology was moved to the Litecoin network, and the number of Litecoin inscriptions on the network exceeded 13,000. Software developer Anthony Guerrera made it possible to write Ordinal on the Litecoin network, receiving 22 Litecoins to transfer the technology to the proof-of-work blockchain (PoW).
Digital collectibles are now possible on Litecoin
Supporters of the Litecoin cryptocurrency network (LTC) were happy to hear that ordinal inscriptions are now possible on the web. Software Developer Anthony Guerrera accepted the challenge to port the technology to Litecoin after the supply grew from five LTCs To 22 tokens.
While the Litecoin network has a number of differences, its codebase shares similarities with Bitcoin, including additions like Segregated Witness (Segwit) and Kernelwhich make it possible to have an ordinal record in the Litecoin network.
“JUST IN: BTC Sequence numbers are now in Litecoin,” Guerrera tweeted on Feb. 18. The encoder also shared an open source codebase hosted on Github and further explained that he had registered the first serial number on the network. Developer said:
The first Litecoin Ordinal was inscribed on the Litecoin blockchain. The Mimblewimble white paper will forever remain in Litecoin.
Since the codebase was released and Guerrera shared on Twitter the first Litecoin-based serial number, the number Sequence numbers based on LTC has grown significantly. At the time of writing, there were about 13,211 sequence numbers on the Litecoin blockchain. Many people share their Litecoin Ordinal inscriptions on social media and promote their newly released LTC-based collections.
Meanwhile, the number of Ordinal entries on the Bitcoin blockchain has exceeded 160 000, and the rising trend shows no signs of slowing down. In addition, people are building infrastructure around bitcoin-based ordinals, such as mining tools that can mint ordinals without a full node for a base fee, wallets, and marketplaces.
There are also many collections competing to be the blue-chip non-fungible tokens (NFTs) on the Bitcoin blockchain. It’s hard to say if this trend will continue to rise in Litecoin as it did in the Bitcoin network, but after Guerrera minted the first coin, thousands followed. It will be interesting to see if digital collectibles minted in bitcoin or litecoin enter the established NFT market economy dominated by networks like Ethereum.
What do you think about Litecoin-based ordinal inscriptions? Share your thoughts in the comments section below.
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Credit : news.bitcoin.com