Binance Pool Launches Ordinals Inscription Service
Binance Pool has introduced its Ordinals Inscription Service, allowing users to inscribe additional data onto the Bitcoin blockchain. This tool enables the direct inscription of data onto individual satoshis, the smallest unit of bitcoin, creating unique digital artifacts securely stored on the network. The Ordinals protocol gained prominence earlier this year for creating BRC-20 tokens and NFTs on Bitcoin.
Key Points:
- Users must complete Binance’s KYC verification and have a Taproot address to utilize the service.
- The inscription process offers options for BRC-20 tokens, single image inscriptions, or text inscriptions.
- BRC-20 tokens require deployment before minting, while single images and text inscriptions have their own specifications.
- Network and service fees apply, and confirmations may take hours or days.
- Inscriptions, once generated, are permanent and cannot be altered or deleted.
Hot Take: Binance Pool’s Ordinals Inscription Service provides greater flexibility for users to add unique data onto the Bitcoin blockchain. While this innovation has fueled debate over the purpose and impact of inscriptions on the network, it showcases the growing interest in using Bitcoin for more than just financial transactions.
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