Amidst the buzz and persistent interest surrounding Bitcoin-derived Ordinal inscriptions, the co-founder of the Capsule 21 podcast introduced Ethscriptions, an analogous innovation that harnesses the power of the Ethereum blockchain. Ethscriptions, as described on the online platform ethscriptions.com, is a “new way of creating and sharing digital artifacts on Ethereum using transaction calldata.”
From Bitcoin to Ethereum: Ethscriptions Take Center Stage in Crypto Community
This weekend crypto enthusiasts have been discussing a new technology that is similar to Bitcoin’s Ordinal inscriptions except this idea leverages the Ethereum blockchain. The new concept is called Ethscriptions and it was created by the co-founder of the Capsule 21 podcast Tom Lehman. The Ethscriptions creator is also the co-founder and former CEO of genius.com.
Let's take a moment to appreciate that after 6 years of stagnation on Bitcoin where other chains did all of the innovation, Ethereum is now copying the innovation happening on Bitcoin.
Bitcoin is back. pic.twitter.com/6CmzEB6xuB
— Leonidas.og (@LeonidasNFT) June 18, 2023
The creator showed off the new technology during a Twitter Spaces event held on June 16, 2023. Middlemarch wrote a thread about the concept on the same day while also introducing a collection called “Ethereum Punks.” Ethscriptions are created on Ethereum through successful transactions with unique data URIs. “Duplicate content is ignored,” Lehman detailed and “all valid mimetypes are supported.”
To ensure uniqueness, no previous Ethscription in a block or in the same transaction block can have the same content. Ethscription transfers occur when a transaction’s input data is the hash of a valid Ethscription, and the transaction’s sender is the Ethscription’s owner. A file used for an inscription on the ETH chain must be under the 96-kilobyte threshold.
“The recipient of the creation transaction is the Ethscription’s initial owner. The sender of the creation transaction is the Ethscription’s creator,” the Ethscription creator said. Lehman has also launched a website called ethscriptions.com, which enables visitors to view all the Ethscriptions or browse them by address.
The website also facilitates the creation of inscriptions on the Ethereum chain. Since Lehman’s launch of the concept, thousands of Ethscriptions have been generated. Ethscriptions can be found on Opensea, and the Emblem Vault team has enabled the trading of a collection of Ethscriptions on the non-fungible token (NFT) platform.
What are your thoughts on Ethscriptions? Share your views and opinions about this subject in the comments section below.
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