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- In under 18 hours, nearly 30,000 Ethscriptions were created.
- Ethscriptions allow for the addition of various types of data to the Ethereum blockchain.
A new protocol has emerged on Ethereum that enables users to create and exchange items. The term “Ethscriptions” clearly references “Inscriptions,” a similar initiative by Ordinals that was launched on the Bitcoin network.
Tom Lehman, the former CEO of Genius.com and one of the project’s co-creators, observed a rapid increase in interest following its launch on Saturday. In less than 18 hours, nearly 30,000 Ethscriptions were created, as noted in Lehman’s tweet, marking the launch as a “huge success.”
Through Ethscriptions, various types of data, beyond just financial transactions, can be added to the primary Ethereum blockchain. Users are able to inscribe any file type as long as it does not exceed 96 kilobytes in size. However, the creator asserts that this functionality currently only accommodates images.
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These inscriptions utilize “calldata,” which is the information transmitted alongside a call to an Ethereum smart contract. Lehman asserts that using the protocol instead of contract storage would be more cost-effective and enhance decentralization.
<p NFT-style images and other non-financial data are recorded in the main chain’s ledger, akin to the launch of Bitcoin Ordinals. However, the introduction of Ordinals had caused discontent among some in the maximalist community.
The Ethereum community appears to be more open to experimentation, as evidenced by the significant interest shown by new protocol users this weekend, reminiscent of the excitement during the Ordinal craze. This high level of engagement resulted in multiple outages for Ethscriptions.
Tom tweeted:
“Sorry everything is crashing! Too many people. If you see 0 / 10,000 minted, that means the API isn’t working and you should wait to Ethscribe. Fixing it!”
