2023-05-30 15:33:04
Held in Miami last week Bitcoin Conference 2023 it left behind memorable experiences and introduced investors and participants to the new products of the Bitcoin network. Among the participants of the conference were Ethereum developers who, thanks to Ordinals, have turned to Bitcoin in recent weeks.
Developers attracted by the wave of experimentation and innovation also participated in a competition organized in the infrastructure solutions category, where the OrdinalSafe, the crypto wallet created for Ordinals was also introduced. Asad Yusuf Atik, CEO of OrdinalSafe, praised this remarkable event, which can give young developers a serious boost.
“You’re standing on stage for the first time and trying to sell the vision of your product to others, so you want to do a good job. I was nervous at first, but going on stage for the award, it was a great feeling.” he added.
OrdinalSafe achieved second place in its category in close competition.
The 22-year-old developer already broke into the cryptosphere in 2020 after his team created the Proof of Innocence protocol. The product was created for the Ethereum Tornado Cash coinmixer. It helped users to prove that they were not using a sanctioned address to conduct transactions.
Atik explained that he first heard about Ordinals on Twitter in February and, along with other Ethereum developers, was immediately intrigued by the buzz surrounding it.
“Even though we came with an Ethereum background, we felt like we were at home.” said Atik. “If you develop on Bitcoin, you are part of the community, right?”
The BTC community supports Ordinals
The introduction of Bitcoin Ordinals was overall positive for the network, but it also sparked controversy among the Bitcon community. While the new feature sparked a nice bull run that temporarily pushed BTC above $28,000, Ordinals also led to network congestion, driving up transaction fees.
Ordinals reached 3 million inscriptions, pushing Bitcoin’s daily transaction volume to an all-time high. This also led to mempool congestion. Transaction fees rose so high that users were forced to pay a “premium” for it. The situation was further complicated by the fact that the world’s leading digital crypto exchange, Binance, halted BTC withdrawals twice due to a surge in transactions.
Currently, the vast majority of the Bitcoin community supports Ordinals, despite dissenting opinions that Ordinals pose a security threat to the network. Michael Saylor, the head of MicroStrategy, expressed his support for Ordinals, noting that it could play a key role in the mass adoption of Bitcoin.
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