@ Opensea
April 28, 2023 in Metaverse Media Labs
Bitcoin STAMPS
We’ve previously written about Bitcoin Ordinals and how they’re shaking up the NFT world, but now a new kind of NFT on the Bitcoin blockchain is gaining traction. The Bitcoin STAMPS (Secure Tradeable Art Maintained Securely) protocol uses a different method of getting data onto the blockchain. STAMPS (also styled as just “stamps”) are stored on Bitcoin’s unspent transaction outputs (UTXOs). These are the records of unspent Bitcoin when transactions happen. In contrast, Ordinals are stored in the witness data. Proponents of Stamps argue that Stamps are more immutable and less prunable than Ordinals, making them more appealing. Stamps use Counterparty API for processing speed and to eliminate the need for indexing. Once the decoding is complete, images are uploaded to stampchain.io for use by web applications. Stamps launched March 7th, and thousands have been minted, or stamped, since then, which, based on a report, far exceeds the amount of Ordinals minted in the same timeframe after launch. The adoption of both Ordinals and Stamps shows the growing desire for NFT capabilities on the Bitcoin chain.