Basically the ERC-721 standard on Bitcoin Network allows you to “Inscribe” individual Satoshi’s with data known as the Ordinals [Bitcoin NFTs]. Anyone still bullish on what this can do for BTC Adoption, will this new discovery taint the original digital P2P cash that Bitcoin started as, I don’t know but it’s pretty wild what’s going with the Ordinals trends in the Crypto and NFT space and its great to see builders building amazing blockchain infrastructures.
Since this new meta launched weeks ago, Ordinals NFT transactions has been limited to spreadsheet OTC trading— due to a non availability of marketplace to process trades. Interestingly, Mark Hendrickson of the Hiro Wallet Project, announced on microblogging platform Twitter that; “Hiro Wallet has begun rolling out support for Bitcoin, and Ordinals for a truly cross-protocol Bitcoin Web3 experience.”
With the new bridge, Extension users can send Bitcoin from their Hiro Wallet using the same Secret Key or Ledger device for managing their STX and other assets (such as BNS names and NFTs) across accounts. Send to all Bitcoin address types, with additional support for sending to BNS names coming soon.
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Users can view their BTC holdings as stored on the account’s Native SegWit address under “Balances”. They can also copy this address under “Receive” and soon reveal Taproot addresses for the deposit of Ordinal inscriptions (more on that below!). All inbound and outbound Bitcoin transactions appear within the “Activity” tab, alongside other Stacks activity such as contract executions and deployments. You can access this Bitcoin functionality now for testing by switching your network to “Testnet” with the latest version (v3.34.0) of the Hiro Wallet extension. Mainnet activation is expected soon later this week.
Meanwhile, the fun is only getting started as we roll out expansive support for both Stacks-based NFTs and Ordinal inscriptions. By connecting Hiro Wallet to apps like Gamma, you’ll be able to pay for new inscriptions and deposit them directly into your account as “Collectibles” Mark stated.
The simplest way to describe Ordinal Theory according to ChainLeft, an early advocate of Ordinal Theory — Is to track the provenance of fungible sats on Bitcoin and assign a “non-fungible” value to them. It’s up to the collectors to subscribe to accept this method and find value in it. Different methods to track provenance aren’t new in Blockchain’s.
Counterparty (XCP) tracks provenance through linked UTXOs in transactions.
Namecoin (NMC) tracks provenance through name identifiers.
Ethereum (ETH) tracks provenance through smart contracts
Ordinals are actually “sats”, not the images you see shared around. With ordinals, you could philosophically assign a “non-fungible” value to technically fungible satoshis (1/100 millionth of a $BTC). Here’s alpha: I think in the future these early sats will have a lot of value.
In a different twist, a closely followed crypto strategist is predicting a huge upside for one under-the-radar Ethereum (ETH) altcoin. Pseudonymous analyst Cantering Clark tells his 159,800 Twitter followers that he has his eye on Hashflow Token (HFT).
The last tickerless chart I shared did a 3x this week.
I have been building a spot position in this one patiently because the setup is looking like it has quite a move ahead of it.
3 things in its favor.
-New coin and new chart effect.
-Not microcap but not overweight… pic.twitter.com/WODQXqA1Xl
— HORSE (@TheFlowHorse) February 12, 2023
The last tickerless chart I shared did a 3x this week. I have been building a spot position in this one patiently because the setup is looking like it has quite a move ahead of it. Three things in its favor.
New coin and new chart effect.
Not microcap but not overweight already.
Low unit bias.
Although, Cantering Clark initially shared a tickerless chart, he eventually unveiled the name of the low-cap altcoin on his radar. “This is not a microcap but smaller never the less so be mindful, but HFT looks like it is going to push much higher before what is probably a long corrective re-accumulation period. I am long.”
Hashflow is the 262nd-ranked crypto asset with a market cap of $110.87 million. At time of writing, HFT is trading for $0.62, up more than 20% in the last 24 hours. Looking at the analyst’s chart, he believes HFT could rally to as high as $1.02. The blockchain project recently announced a roadmap for 2023, which includes plans to launch the Hashverse, Hashflow’s gamified, storyverse-driven decentralized autonomous organization (DAO) that allows users to stake tokens, complete quests and earn non-fungible tokens (NFTs).
Hashflow is built on the Ethereum network for interoperability, zero slippage and miner extractable value (MEV)-protected trades. Decentralized exchanges (DEXes) traditionally rely on automated market markers (AMMs) to enable on-demand trading of assets, but Hashflow uses a request-for-quote (RFQ) model that allows for professional market makers to manage liquidity pools. Next, Cantering Clark says a key price range for Bitcoin ($BTC) is around $22,200, where he notes that the king crypto could either find resistance or break through it with momentum.