According to Ordinals advocate Udi Wertheimer, the growing popularity of Bitcoin NFTs (Ordinals) will have a positive impact on the security of the Bitcoin network and attract developers to the ecosystem.
According to independent developer Udi Wertheimer, Bitcoin is
Bitcoin
ticking down
$27,473
Non-fungible tokens (NFTs) have a positive impact on the ecosystem by improving security and incentivizing developers to build on the network.
The number of newly created orders has skyrocketed in recent weeks, driving up transaction fees and average block sizes on the Bitcoin blockchain.
According to Wertheimer, Bitcoin NFTs will be beneficial to Bitcoin’s security budget. Ordinal creation gives miners an incentive to protect the network by increasing transaction fees, but mining revenue decreases every time Bitcoin is halved.
“With the lack of block space and the demand for things like inscriptions, there’s a lot of hope that we can get enough people willing to pay fees to keep the Bitcoin network secure,” Wertheimer said. explained in a recent interview with Cointelegraph.
Wertheimer also said that Ordinal will provide new use cases for commercial monetization of Bitcoin.
“Given the interest in Ordinal and Inscription, we expect to see a very large ecosystem built around it,” he said.
Wertheimer rejects the idea of some of his Bitcoin core developers that creating NFTs is not the right use case for Bitcoin. According to him, Bitcoin core developers have for the past few years “ignored what real Bitcoin users want.”
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