From Bitcoin to Ethereum: Ethscriptions Take the Spotlight in the Crypto World
The crypto world is abuzz with a brand-new innovation called Ethscriptions.
It’s like Bitcoin’s Ordinal inscriptions, but with an Ethereum twist. Tom Lehman, co-founder of the Capsule 21 podcast and former genius.com CEO, introduced this exciting concept that harnesses the power of the Ethereum blockchain.
During a Twitter Spaces event on June 16, 2023, Lehman showcased the magic of Ethscriptions. Middlemarch couldn’t contain the excitement and shared a thread about the concept, even introducing a collection called “Ethereum Punks.” So, what’s the fuss all about?
Ethscriptions are born on Ethereum through successful transactions with unique data URIs. But here’s the cool part: duplicate content is ignored, and all valid mimetypes are supported. Uniqueness is the name of the game here! No previous Ethscription in a block or the same transaction block can have the same content.
When a transaction’s input data is the hash of a valid Ethscription, and the transaction’s sender is the Ethscription’s owner, voila! Ethscription transfers happen. Just remember, the file used for an inscription on the ETH chain must be under the 96-kilobyte threshold.
Lehman didn’t stop there. He launched a hip website called ethscriptions.com, where you can feast your eyes on all the Ethscriptions or browse them by address. It’s like a digital art gallery, but with a crypto twist.
Since the grand unveiling, thousands of Ethscriptions have been generated. You can even find them on Opensea, and the Emblem Vault team has enabled trading of a collection of Ethscriptions on their non-fungible token (NFT) platform.
Clever Robot News Desk 19th June 2023
