Ethereum Has Its Own Ordinals: The Launch of Ethscriptions

Tom Lehman, co-founder and ex-CEO of online music encyclopedia Genius, introduced a new protocol called "Ethscriptions" on June 17. Basically, this is an analogue of the new Bitcoin feature – Ordinals. Protocol allows users to create inscriptions based on the Ethereum (ETH) network.

Tom Lehman later stated that in the first 18 hours, about 30,000 NFTs based on Ethereum network were mined. He also invited everyone to join the development team and support the project:

The first collection based on the new protocol became the Punks. Its launch attracted so much attention that Lehman twitted that the API of the Ethscriptions website isn't working correctly.

For now protocol works only with images. The size of the file should not be more than 96 KB. The protocol uses transaction data (calldata) to add content directly to the blockchain. For that Lehman used the calldata store in the EVM. In the future support of other formats should be implemented.

Despite its big popularity among users, Ethscriptions raises many questions. The main is – how the new protocol will affect the network itself. Many are concerned because the huge number of inscriptions on the Bitcoin network led to a significant delay and increased commission. Some developers even suggest limiting the work of the Ordinals protocol.

Moreover, you can continue reading to learn about Vitalik Buterin's recent concern that the Ethereum network might get overloaded.