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Cryptocurrency exchange Binance has introduced a marketplace focused exclusively on the inscriptions of the Ordinals protocol.
According to the exchange <a href="https://www.binance.com/en/feed/post/2024-02-01-binance-unveils-inscriptions-marketplace-amplifying-access-to-web3-via-binance-web3-wallet-3525861445585" target="_blank" rel="noopener noreferrer nofollow">announcement</a>, the new platform will allow the sale, purchase, and mining of BRC-20 standard tokens and other EVM-compatible assets.
The marketplace for inscriptions is hosted on Binance’s <a href="https://crypto.news/tag/Web3/" target="_blank" rel="noopener noreferrer nofollow">web3</a> wallet, accessible through the platform’s app. According to the developers, the new product’s features include buying, selling, and mining BRC-20 tokens and other EVM coins, seamless transfers between the <a href="https://crypto.news/tag/binance/" target="_blank" rel="noopener noreferrer nofollow">Binance</a> platform and its crypto wallet, and increased transaction speeds.
You might also like: <a href="https://crypto.news/ordinals-boom-sent-bitcoin-fees-to-record/" rel="noopener noreferrer nofollow"> Ordinals boom sent Bitcoin fees to record </a>
Notably, despite the hype surrounding the “inscription” of the <a href="https://crypto.news/tag/Ordinals/" target="_blank" rel="noopener noreferrer nofollow">Ordinals</a> protocol, the tool is still controversial. Thus, in December 2023, the U.S. National Vulnerability Database (NVD) <a href="https://crypto.news/u-s-agency-identified-bitcoin-inscriptions-as-cybersecurity-risk/" target="_blank" rel="noopener noreferrer nofollow">expanded</a> the list of cybersecurity threats by adding inscriptions created in the Ordinals protocol.
Adding to the list means a specific vulnerability has been identified, cataloged, and deemed essential to public attention. NVD is currently actively analyzing the vulnerabilities of the Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) network. NVD cites the spread of non-transactional data and spam throughout the network of the first cryptocurrency as one of the potential consequences. This may negatively impact performance and commissions.
Bitcoin Core developer Luke Dashjr <a href="https://crypto.news/bitcoin-core-developer-calls-ordinals-a-fraud-announces-fix/" target="_blank" rel="noopener noreferrer nofollow">claims</a> that BTC inscriptions use the vulnerability to send spam on the network. Dashjr appears to be standing his ground, saying that non-fungible tokens (<a href="https://crypto.news/tag/NFT/" target="_blank" rel="noopener noreferrer nofollow">NFTs</a>) on the Bitcoin network “never existed” in the first place, calling them all “fraud.”
You might also like: <a href="https://crypto.news/developer-asks-community-not-to-underestimate-bitcoin-ordinals/" rel="noopener noreferrer nofollow"> Developer asks community not to underestimate Bitcoin Ordinals </a>

Binance launches marketplace focused on Ordinals protocol

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