Bitcoin Infrastructure Developer Pauses Deposits Amid Record-High User Activity
Bitcoin infrastructure developer Nostr Assets has temporarily halted deposits due to an overwhelming increase in user activity. The developers have advised users to wait for further announcements and refrain from making deposits at this time. Nostr Assets enables users to transact Satoshis through the Lightning and Taproot Networks, and it claims to have onboarded over 70,000 new users and received 280 Bitcoin in deposits since October 30.
Allegations of an Affinity Scam
Fiatjaf, the creator of the Nostr protocol, has accused the Nostr Asset team of operating an affinity scam. However, these allegations have not been proven in a legal institution. The developers of Nostr Assets have dismissed the claims as unfounded, emphasizing that their platform utilizes Nostr, Taproot Assets, and Lightning in its construction. They clarified that while Nostr Assets is related to Nostr, it is a decentralized and open-sourced relay network that anyone can build on.
Surpassing $1 Billion in NFT Sales
The total volume of non-fungible token (NFT) sales on the Bitcoin network has reached over $1 billion. Additionally, Ordinals, a meme token minted on the Bitcoin network, has achieved a market cap of $1 billion. BRC-20 tokens, invented by Web3 developer Rodarmor, have gained popularity as a significant advancement in blockchain technology.
The Bitcoin Ordinals System
Bitcoin Ordinals is a numbering system that assigns a unique number to each satoshi, enabling tracking and transfer. This system, combined with the Bitcoin Inscription process, allows users to mint unique digital assets on the Bitcoin blockchain. However, it’s important to note that the current token listed on Binance, ORDI, is not associated with the developers of Bitcoin Ordinals.
Hot Take: Bitcoin Infrastructure Developer Faces Challenges Amid User Surge
Nostr Assets, a Bitcoin infrastructure developer, has encountered difficulties due to a surge in user activity. The platform has temporarily suspended deposits and urged users to wait for further updates. Allegations of an affinity scam have been made against the Nostr Asset team, although they have denied these claims. Meanwhile, the Bitcoin network has witnessed significant milestones with over $1 billion in NFT sales and the market cap of meme token Ordinals reaching $1 billion. The invention of BRC-20 tokens has contributed to the advancement of blockchain technology. It’s crucial for users to be aware that the current token listed on Binance, ORDI, is unrelated to Bitcoin Ordinals.
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