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The Ordinals protocol team has revealed the establishment of a non-profit organization named ‘Open Ordinals Institute’ to support its open-source development efforts.
The Open Ordinals Institute is a publicly recognized 501(c)(3) charity based in California that will gather donations in Bitcoin to finance the protocol’s development by supporting its core group of developers.
The initiative will also prioritize the development of user-friendly tools to assist users with limited technical skills in creating Bitcoin Digital Artifacts effortlessly.
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- As stated in the official blog post, the initiative aims to provide funding for designers, reviewers, researchers, educators, and other contributors who are essential in enhancing and advocating for the technology.
- Previously, Casey Rodarmor, who was instrumental in introducing inscriptions on Bitcoin’s mainnet for the first time, was the primary funder of the project.
- Alongside Rodarmor, the Open Ordinals team will include four members on the board, comprising the project’s pseudonymous lead maintainer Raph, Bitcoin-focused podcast host Erin Redwing, and an anonymous Ordinals developer known as Ordinally.
“The Open Ordinals Institute is dedicated to supporting developers engaged with this protocol, as well as those developing user-friendly tools that enable less technically skilled users to create Bitcoin Digital Artifacts.”
- The newly launched Ordinals.org site will facilitate donations to the institute through two Bitcoin wallet addresses.
- This year, the Ordinals protocol has gained considerable momentum, resulting in a divided opinion within the Bitcoin community regarding its sustainability.
- While the initial excitement may have diminished, Bitcoin currently has over 21 million Ordinals inscriptions, reflecting a 40% increase in under a month.
- The trading volume of Bitcoin Ordinals experienced a remarkable surge of 2,834% from Q1 to Q2 of 2023, reaching $210.7 million.
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