Nostr Assets Temporarily Pauses New Deposits
In a recent development, Bitcoin custodian Nostr Assets has announced a temporary pause in accepting new deposits. This decision comes after experiencing a significant increase in user engagement and amidst allegations from Fiatjaf, the creator of the Nostr protocol.
Nostr Assets Refutes Fiatjaf’s Scam Allegations
Nostr Assets, a platform facilitating transactions of Satoshis through Lightning and Taproot Networks, has seen a surge in new users, with over 70,000 individuals joining since October 30. However, developers are cautioning users against making new deposits for now. In response to accusations from Fiatjaf, Nostr Assets’ developers have refuted claims of running an affinity scam and emphasized their use of Nostr, Taproot Assets, and Lightning technologies.
NFT Sales on Bitcoin Network Surpass $1 Billion
The total volume of non-fungible token (NFT) sales on the Bitcoin network has exceeded $1 billion. Additionally, the meme token Ordinals minted on the Bitcoin network has achieved a market cap of $1 billion. These milestones highlight the growing popularity of BRC-20 tokens introduced by Web3 developer Rodarmor in January.
Bitcoin Ordinals and the Unique Inscription Process
Bitcoin Ordinals uses a unique numbering system for each satoshi, allowing for easy tracking and transfer of these units. The Bitcoin Inscription process attaches additional data to each satoshi, enabling the creation of unique digital assets on the Bitcoin blockchain. It’s important to note that the ORDI token listed on Binance is not associated with the developers of Bitcoin Ordinals.
Hot Take: The Rise of Nostr Assets and NFTs on Bitcoin
The recent surge in user engagement and allegations against Nostr Assets have brought attention to the platform and its use of Nostr, Taproot Assets, and Lightning technologies. As NFT sales on the Bitcoin network surpass $1 billion, it’s clear that BRC-20 tokens like Ordinals are gaining popularity. These developments showcase the continuous growth and innovation within the cryptocurrency industry.
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