Dogecoin, Litecoin Transactions 'Spike' After Ordinals Intervene
Ordinals on Bitcoin debuted in January 2023 and have been a hot topic of discussion since then. Ordinal Inscriptions are quite similar to NFTs but come with a slight twist. Simply put, they are digital assets inscribed on a Satoshi, the lowest denomination of Bitcoin. The network’s SegWit and Taproot upgrades that took place to improve the privacy and efficiency of the network also opened the doors for Satoshi inscriptions. In February, a developer forked the Ordinals project to PoW blockchain Litecoin. At that time, a pseudonymous Twitter user with the username indigo_nakamoto offered around 5 LTC [approximately $500] to anyone who could port Ordinals to Litecoin. The reward was later increased to 15 LTC and 22 LTC. Motivated by the bounty, Australian software engineer Anthony Guerrera posted a repository on GitHub that forked the Bitcoin Ordinals protocol to Litecoin. Likewise, people from the DOGE community copied the Ordinals protocol to create the same functionality on Dogecoi...