Bitcoin’s (BTC-USD) blockchain recently notched up another historic achievement. The latest feat? Carving out space for a colossal 3.969-megabyte inscription, courtesy of OrdinalsBot. The masterpiece in question is “A Declaration of Independence in Cyberspace” by Logos Network. This hefty addition to the blockchain surpassed the previous record by a hair-thin margin of 0.001MB. And while the 0.0001MB difference may not sound like a big deal outside of the crypto space, it is for the NFT and Ordinals crowd building on Bitcoin.
Brian Laughlan, the brain behind OrdinalsBot, spilled the digital beans to Decrypt, revealing that the inscription’s size was more about visual impact than textual weight. Crafted with precision to dominate the size charts, OrdinalsBot wants to keep pushing boundaries on BTC’s blockchain.
BTC Charting New Territory
The journey to expanding Bitcoin’s capacity traces back to the Segregated Witness (SegWit) update of 2017. For those who don’t remember or aren’t familiar with that time in crypto’s history, it was essentially a civil war of sorts. Bitcoin Cash (BCH-USD), a hard fork of Bitcoin, was created during this chaos.
At the same time, Bitcoin received a boost in the maximum block size from 1MB to an effective 4MB. Fast forward seven-ish years, that upgrade allowed for handling larger transactions and inscriptions. However, it also drew a firm line in the sand, imposing a ceiling on file sizes—a hurdle that entities like OrdinalsBot must navigate.
Harnessing this expanded capacity to the fullest, OrdinalsBot engineers each file with surgical precision, ensuring it snugly fits within the 4MB limit. OrdinalsBot has also partnered with Marathon Digital (NASDAQ:MARA) to work with them on seamlessly integrating vast amounts of data into single Bitcoin blocks without breaching the blockchain’s capacity.
Beyond the Record Books
From a technical analysis perspective, Bitcoin is performing marvelously. Despite its recent monthly performance of -6.74%, it is still up nearly +48% over the past three months and +81% over the past six months.
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