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Launched on June 17, the protocol, dubbed “Ethscriptions,” is a nod to the Bitcoin <a href="https://cointelegraph.com/explained/what-are-bitcoin-ordinals#:~:text&#61;1.-,What%20are%20Bitcoin%20NFTs%3F,art%20onto%20the%20Bitcoin%20blockchain." rel="noopener noreferrer nofollow">Ordinals protocol</a> where assets are known as “inscriptions.&#39;&#39;Inspired by Bitcoin Ordinals inscriptions, Ethscriptions offer a new way to mint NFTs on Ethereum. Ethereum users have been given another way to create nonfungible tokens (NFTs) and other digital assets on the blockchain with the launch of a new protocol. Ethscriptions was developed by music website Genius.com co-founder Tom Lehman, who uses the pseudonym <a href="https://twitter.com/dumbnamenumbers" rel="noopener noreferrer nofollow">Middlemarch</a> on Twitter. Lehman declared the project a “huge success” in a series of tweets on June 17 and noted nearly 30,000 Ethscriptions had been created within the first 18 hours of the protocol going live.According to Lehman, Ethscriptions assets <a href="https://twitter.com/dumbnamenumbers/status/1669896370440794113?s&#61;20" rel="noopener noreferrer nofollow">utilize</a> Ethereum “calldata”, the data within a smart contract to allow for a “cheaper” and “more decentralized” minting process compared to conventional smart contract-based methods. Lehman’s debut project on the Ethscriptions protocol, dubbed “Ethereum Punks,” witnessed a considerably positive response from the community, with all 10,000 assets being claimed near-instantaneously. Currently users are limited to image-only inscriptions, but Lehman says the protocol will allow for different file types to be uploaded in the future. Currently, users are able to “ethscribe” any image as long as it’s less than 96 kilobytes in size.Due to pre-existing infrastructure that allows for the creation of NFTs and other digital assets on the Ethereum network, it’s unclear if Ethscriptions will witness the same level of popularity as Bitcoin Ordinals has. In less than six months, the total number of Ordinals inscribed on Bitcoin <a href="https://cointelegraph.com/news/bitcoin-ordinals-surpass-inscription-as-casey-rodarmor-steps-down" rel="noopener noreferrer nofollow">surged from zero to 10 million</a>. The enormous surge in activity was driven in large part by users embracing the novelty of being able to mint assets, which later included entirely new tokens by way of <a href="https://cointelegraph.com/learn/what-is-a-brc-20-token-standard-an-overview" rel="noopener noreferrer nofollow">the BRC-20 token standard</a> on the Bitcoin network. So, that is this week’s WedNewsDay! What are your thoughts about it? Stay tuned next week for our next hot news! Spread the word!Follow us onWebsite | <a href="https://werentnft.io/" rel="noopener noreferrer nofollow">https://werentnft.io/</a>Instagram | <a href="https://www.instagram.com/werent_nft/" rel="noopener noreferrer nofollow">https://www.instagram.com/werent_nft/</a>Twitter |<a href="https://twitter.com/WebuyOfficial" rel="noopener noreferrer nofollow"> </a><a href="https://twitter.com/WerentOfficial" rel="noopener noreferrer nofollow">https://twitter.com/WerentOfficial</a>Medium |<a href="https://medium.com/&#64;webuynft" rel="noopener noreferrer nofollow"> </a><a href="https://medium.com/&#64;werentnft" rel="noopener noreferrer nofollow">https://medium.com/&#64;werentnft</a>Facebook | <a href="https://www.facebook.com/werentnft" rel="noopener noreferrer nofollow">https://www.facebook.com/werentnft</a>Youtube | <a href="https://www.youtube.com/&#64;WeRentNFT" rel="noopener noreferrer nofollow">https://www.youtube.com/&#64;WeRentNFT</a>

WedNewsDay!Inspired by Bitcoin Ordinals inscriptions, Ethscriptions offer a new way to mint NFTs on Ethereum.

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