The Ordinals protocol was launched on the Bitcoin network in January, followed by a wave of experiments with the first blockchain.
The protocol is often used to release NFT counterparts, but MicroStrategy management believes that the potential of the project is much higher.
For example, thanks to Ordinals, an experimental framework for creating Bitcoin-based tokens was recently launched. “Standard” was named BRC-20.
After that, the number of transactions and the amount of commissions increased significantly.
Saylor noted that projects such as Ordinals promote the adoption of the first cryptocurrency among crypto-enthusiasts, companies and even governments alike.
In addition, because of the high number of transactions and high fees, miners earn more and have more incentive to maintain the network.
It is not yet known exactly how MicroStrategy plans to use Bitcoin Ordinals. Saylor hinted at the DocuSign system, which is used for electronic document flow between companies.
However, it is centralized, so firms rely on one proprietary database. If you run a similar system on the blockchain of the first cryptocurrency, it will give “a new level of corporate security.
Earlier, JAN3 CEO Samson Mow opined that the hype around Bitcoin’s NFT counterpart and BRC-20 standard tokens will subside in just a few months.