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 <p class="is-style-lead">Bioniq, a new <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>place for Bitcoin Ordinals, introduces a distinctive approach by operating on the Internet Computer (ICP) blockchain.</p>
 <p>The introduction of Bioniq, a Bitcoin Ordinals <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>place, marks a notable development in the evolving landscape of cryptocurrency. Distinctively, Bioniq operates on the Internet Computer (ICP) blockchain, a platform developed by Dfinity, rather than directly on Bitcoin. This approach positions ICP as a type of layer-2 network for Bitcoin, a significant deviation from traditional practices in this space.</p>
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    <p lang="en" dir="ltr">Hello world! <br><br>We're an experienced team of Web3 developers bringing you the worlds greatest trading experience for ordinal NFTs<br><br>Send, receive, inscribe, buy, sell, swap, trade, auction, offer, and collateralize all in the works<br><br>Can't wait to show you what we are building</p>— bioniq (@bioniqMarket) February 28, 2023
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 <p>Bioniq claims to offer several benefits including being the “world’s fastest” <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>place for Bitcoin Ordinals, incorporates a built-in wallet with optional Google login via Web3Auth and does not impose network transaction or gas fees on traders.</p>
 <p>The platform uses a token wrapping process where Bitcoin and Ordinals assets are transferred to Bioniq’s wallet, then “wrapped”, creating a corresponding NFT on the ICP network. This enables trading on the ICP network, which is touted to be faster and less costly than the Bitcoin (BTC) network.</p>
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 <p>Despite these claimed advantages, Bioniq’s approach involves additional steps, potentially complicating the user experience. Users must transfer and wrap their assets on a different blockchain, which may not appeal to those seeking a more straightforward, Bitcoin-centric trading process.</p>
 <p>Furthermore, the platform’s reliance on the Internet Computer network introduces a layer of complexity and potential risks, as the stability and security of this less established blockchain are factors to consider.</p>
 <p>Bioniq also introduces new <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a> like adjustable offers and English auctions with set reserve prices, expanding the functionality of Ordinals <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>places. Future plans for the platform include developing a launchpad for new collections, a crypto borrowing system using Ordinals assets as collateral, and collection offers for specific projects.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-ordinals-marketplace-bioniq-launches-on-icp-tbt72115.html">https://thebittimes.com/bitcoin-ordinals-marketplace-bioniq-launches-on-icp-tbt72115.html</a></p>

Bitcoin Ordinals marketplace Bioniq launches on ICP

TheBitTimes

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