Ethereum Launches Ethscriptions To Rival Bitcoin Ordinals

Bitcoin Ordinals recorded huge success shortly after its launch due to the additional inscription feature it offered users.

Ethereum, widely regarded as a developers’ hub, created its version of this technology, enabling its community to mint special NFTs with inscriptions.

The project, dubbed Ethscriptions, launched on June 17 and was developed by Genius.com co-founder Tom Lehman. Ethscriptions are now available to users as a new way to mint NFTs on Ethereum’s network. 

Tom Lehman Bullish On Ethscriptions

In a series of Tweets, Tom Lehman referred to Ethscription as a huge success. Also, he noted that almost 30,000 Ethscriptions, were created within the first 18 hours of the protocol’s launch.  

According to Lehman, the Ethscription protocol uses call data within a smart contract for cheaper and decentralized digital asset minting.

Also, he further described its working process. According to the developer, any successful Ethereum transaction whose input date is a valid dare URI will form an Ethscription if the date URI is unique.

Also, he noted that duplicate content is irrelevant, and for the URI to be unique, no Ethscription from a previous block or earlier transaction in the same block can have similar information.

Additionally, the receiver of a creation transaction is the Ethscription’s initial owner, while the sender is the creator. Notably, he introduced Ethereum Punks, stating that all the non-contract Punk collecting should not occur exclusively on Bitcoin.

Ethereum Punks are 10,000 uniquely generated characters hosted on the Ethereum blockchain. Although the Ethscription protocol recorded much initial success, it currently supports only images with other upgrades promised in the future for users. 

Ethscriptions Vs Bitcoin Ordinals

Bitcoin Ordinals and Ethereum Ethscriptions seek to give users more exciting options in minting digital assets. However, although the two projects seem to pursue progress and innovation, the community reaction differs.

The creation of Ordinals angered some Bitcoin purists who felt that they deviated from the original roadmap of founder Satoshi Nakamoto. 

A Twitter user claimed that Ordinals were an attack on Bitcoin. He claimed the Ordinal gang was pushing random inscriptions to pay high fees.

Conversely, there are no notable objections to the creation of Ethscriptions. As creator Tom Lehman noted, Ethscriptions are cheaper and more decentralized than control storage. Additionally, Ethereum’s protocol guarantees the uniqueness of the content on each valid Ethscription.

However, Bitcoin Ordinals supports more features, such as games and audio, allowing users to inscribe additional data on artwork.  Ethscriptions, on the other hand, currently support only images. 

Although Ethscription is a new project, Ethereum remains Bitcoin’s most formidable rival for market share. However, at the moment, Ordinals still enjoy massive success and adoption from its admirers in the crypto community.