Innovations and adaptations are constantly being made in blockchain technology to push the boundaries of what is possible. Recently, the Ordinal Inscriptions project, which allows users to store and create transactions on the Bitcoin network, has gained significant popularity in the blockchain community. And now, a software engineer, Anthony Guerrera, has taken up the challenge to bring Ordinal Inscriptions to Litecoin, a cryptocurrency designed to be faster at processing transactions than Bitcoin.
Software Engineer Brings Ordinal Inscriptions To Litecoin
The Ordinal Inscriptions project has gained significant popularity in the blockchain community, with over 154,000 inscriptions created. These inscriptions allow users to create and store information other than transactions on the Bitcoin network. Recently, a software engineer, Anthony Guerrera, has adapted this project for Litecoin, a cryptocurrency designed to be faster at processing transactions than Bitcoin.
A Twitter user named Indigo Nakamoto offered a bounty of 5 LTC (around $500) for anyone who could port Ordinals to Litecoin. Guerrera accepted the challenge and forked the GitHub repository for Bitcoin Ordinals.
The introduction of Ordinal Inscriptions to the Litecoin network made it possible for a nonfungible token (NFT)-like assets to be created and stored on the network, just as it had been earlier with Bitcoin. With Ordinals, users can store information beyond just transactions on the blockchain, enabling the creation of unique and valuable digital assets. This presents exciting opportunities for artists, collectors, and investors, who can now utilize the features of the Litecoin network to create and exchange their NFT-like assets.
Litecoin Steps Up Its Game With Introduction Of Ordinal Inscriptions
Guerrera chose Litecoin because it is the only other blockchain on which Ordinals could work due to its soft forks of the SegWit and Taproot technology found in Bitcoin. MimbleWimble, an upgrade to the Litecoin blockchain that aims to enhance privacy and transaction size, makes Litecoin a good fit for Ordinals. Guerrera found that MimbleWimble allows users to transfer funds privately before inscribing, unlike Bitcoin, a fully public ledger.
Guerrera created the Litecoin Ordinals project on GitHub after forking the Bitcoin Ordinals repository posted by Casey Rodarmor in January. Guerrera faced some challenges when he began working on the project. He found problems with its dependency on rust-bitcoin, which did not support the MimbleWimble upgrade on Litecoin.
Overcoming Rust Limitations To Bring Ordinal Inscriptions To Litecoin
Rust is a programming language that emphasizes safety, performance, and concurrency. The cryptocurrency exchange Kraken launched a memorial fund in September 2021 to support the development of rust, named in memory of Bitcoin Rust contributor Tamás Blummer, who had passed away. Guerrera forked rust-bitcoin to create a version that could work with Litecoin by decoding block data and safely ignoring an extension block.
Litecoin is currently the 16th largest cryptocurrency by market capitalization at $6.9 billion. With the successful creation of Litecoin Ordinals, it is expected to gain even more traction in the blockchain community. The ability to store data beyond transactions has many potential use cases, such as creating a statement piece while maintaining privacy, making it an excellent addition to the Litecoin blockchain.