As buzz and interest grew around Ordinal inscriptions based on Bitcoin, the co-founder of the Capsule 21 podcast presented Ethscriptions, which are similar to Ordinal inscriptions but use the power of the Ethereum blockchain. Ethscriptions is a “new way to create and share digital artifacts on Ethereum using transaction calldata,” according to the website ethscriptions.com.
Ethscriptions Are Taking the Crypto Community By Storm From Bitcoin to Ethereum
This weekend, people who are interested in cryptocurrencies talked about a new technology that is similar to Bitcoin’s Ordinal markings but uses the Ethereum blockchain instead. The new idea is called Ethscriptions, and it was made by Tom Lehman, who helped start the Capsule 21 podcast. The person who made Ethscriptions was also one of the people who started genius.com and used to run it.
During a Twitter Spaces event on June 16, 2023, the author showed off the new technology. On the same day, Middlemarch wrote a thread about the idea and introduced a collection called “Ethereum Punks.” On Ethereum, Ethscriptions are made when unique data URIs are used in successful transactions. Lehman explained that “duplicate content is ignored,” and that “all valid mimetypes are supported.”
No prior Ethscription in a block or in the same transaction block may contain the same content in order to guarantee uniqueness. When the sender of a transaction is the owner of an Ethscription and the transaction’s input data is the hash of an authorized Ethscription, an Ethscription transfer takes place. The maximum file size for an inscription on the ETH chain is 96 kilobytes.
“The initial owner of the Ethscription is the transaction’s receiver. The Ethscription creator identified himself as the sender of the creation transaction. Lehman has also launched the website ethscriptions.com, which allows users to browse Ethscriptions by address or view all of them.
Additionally, the website makes it easier to write inscriptions on the Ethereum chain. The notion was introduced by Lehman, and many of Ethscriptions have been produced since. The Emblem Vault team has made it possible to trade a selection of Ethscriptions on the non-fungible token (NFT) platform, and Ethscriptions can be found on Opensea.