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Ethereum fees for "blobs" – the blockchain's new dedicated class of cheaper data storage – spiked Wednesday after a project called Ethscriptions created a new way of inscribing data, known as “blobscriptions.”

[PRESS RELEASE – Toronto, Canada, January 19th, 2024] In the dynamic world of blockchain technology, Nuvo has indelibly marked its presence with the successful launch of Nuscription, a pioneering Ethscription platform within the Metis ecosystem. Since its introduction, Nuscription has not just met but surpassed expectations, establishing itself as a pivotal force in blockchain innovation. […]

Ethereum developers have drawn inspiration from Bitcoin in non-fungible tokens (NFTs), an area of speciality for the decentralized blockchain giant. A new protocol that offers users a new way to create NFTs hit Ethereum over the weekend with lots of buzzes over its possibilities. Developed by Tom Lehman, the co-founder of Genius.com, the project is […]

This week has seen many TradFi institutions rushing to apply for spot Bitcoin Exchange-Traded Funds, which in turn helped push the crypto past the $30,000 mark, despite the regulatory challenges standing in its way, courtesy of the SEC. Let’s find out more. Bitcoin Global investment firm BlackRock's recent filing for a spot Bitcoin ETF has reignited optimism in the industry and spurred a flurry of similar filings from firms like WisdomTree and Invesco. There has been news of even Fidelity Investments applying for a spot Bitcoin ETF. The US SEC has approved the first leveraged Bitcoin futures ETF - the Volatility Shares 2x Bitcoin Strategy ETF, which will launch on the Chicago Board Options BZX on Tuesday, June 27. A recent IMF post was extremely favorable towards countries in Latin America and the Caribbean using central bank digital currencies while denigrating El Salvador’s adoption of Bitcoin. MicroStrategy has turned a profit on its significant Bitcoin investment as the premier cryptocurrency soars the charts. Bitcoin really motored both Tuesday and Wednesday, putting on as much as 14.6% in the process. Experts are talking about whether Bitcoin’s latest surge is just a last fling before sinking lower or does it have the legs to rally to $45,000. Crypto fund manager Valkyrie has joined a growing group of financial entities seeking to create Bitcoin spot ETFs. The crypto exchange endorsed by Wall Street heavyweights such as Fidelity and Citadel, EDX Markets, launched its operations this week. Binance has confirmed that it is setting up Bitcoin Lightning nodes in order to scale and speed up Bitcoin transactions. Ethereum Etherscan has launched an innovative tool that utilizes artificial intelligence (AI) to retrieve and interpret the source code of specific contract addresses. The Ethereum research team proposed a solution centered around the increase of the MAX_EFFECTIVE_BALANCE (MaxEB), an Ethereum parameter currently capping the effective balance of Ethereum validators at 32 ETH. Ethereum users are being given a fresh way to create NFTs and other digital assets on the blockchain following the launch of a new protocol called "Ethscriptions." Altcoins Traders are attempting to short the TUSD stablecoin amidst reports of the stablecoin issuer’s connection with crypto custodian Prime Trust. Technology Zero-knowledge layer-2 scaling solution Starknet has moved closer to full Ethereum Virtual Machine (EVM) compatibility with the upcoming August launch of Kakarot, a new testnet. In a recent uproar within the crypto Twitter community, the popular AI bot "Explain This Bob" found its account suspended after being identified as a "scam crypto account." The International Monetary Fund (IMF) is working on a concept of a global infrastructure to ensure the interoperability of settlements between digital currencies issued by central banks. Binance-backed BNB Chain has unveiled opBNB, a new Layer-2 testnet designed to address the pressing scalability challenges that have slowed the mass adoption of blockchain technology. Polygon co-founder Mihailo Bjelic has proposed upgrading the Polygon proof-of-stake (PoS) network. into a 'zkEVM validium' version to bolster security. Co-founder of Ethereum infrastructure service Flashbots Alex Obadia has warned of serious challenges ahead for the company in a farewell letter posted on his Twitter handle. Leading PoS blockchain platform, Cardano, has launched an important update to its network, Node 8.1.1, that introduces several technical enhancements to the Cardano ecosystem. Business Huobi founder Li Lin has sued Huobi Global in Hong Kong for using the Huobi trademark without proper permission. The Sydney-based crypto exchange, Independent Reserve, is eyeing an expansion to Hong Kong in the “next few months,” according to an interview with Lasanka Perera, the CEO of its Singapore operations. Regulation The Financial Services and Markets Bill has received approval from the House of Lords and will enter the final stages before becoming legislation. Deutsche Bank is seeking to increase its income in the digital assets space and has applied for a license in Germany. Five US enforcement agencies have come together to create a joint task force to tackle crimes related to digital currencies and the dark web. The Canadian regulator has warned investors that some crypto websites are using fake regulatory stamps and dispute resolution organizations to appear legitimate. According to trading firm QCP Capital, BlackRock’s Bitcoin spot ETF is unlikely in the near term, thanks to SEC Chair Gary Gensler’s attitude towards cryptocurrencies. Binance.US, Binance Holdings Limited, and Binance CEO Changpeng Zhao have accused the SEC of misleading the public through statements during its ongoing lawsuit. Web3 Leading Web3 creative studio, Atrium has created the first animated film, “Nouns: A Movie,” funded by a DAO, featuring popular NFTs. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

A project called “Ethscriptions” is bringing Bitcoin Ordinals-inspired inscriptions to the Ethereum blockchain.

Ethereum users are being given a fresh way to create nonfungible tokens (NFTs) and other digital assets on the blockchain following the launch of a new protocol called "Ethscriptions." Launched on June 17 by music website Genius.com's co-founder Tom Lehman, Ethscriptions aims to revolutionize Ethereum-based digital asset creation and was quickly met with a high degree of enthusiasm, generating almost 30,000 Ethscriptions within the first 18 hours. Taking inspiration from the popular Bitcoin (BTC) Ordinals protocol — where assets are known as “inscriptions” — Ethscriptions promises to enhance the way digital assets are minted on the Ethereum network. The Protocol: Leveraging Ethereum's Calldata for Improved Minting Lehman, who is also known by the pseudonym Middlemarch on Twitter, declared the project a "huge success." Ethscriptions employs Ethereum's "calldata," which refers to the data held within a smart contract, to allow for a "cheaper" and "more decentralized" minting process compared to conventional smart contract-based methods. At present, the protocol limits users to image-only inscriptions, but Lehman assures that Ethscriptions will accommodate different file types in the future. Current protocol specifications permit users to "ethscribe" any image provided it's less than 96 kilobytes in size. Lehman’s first project on the Ethscriptions protocol, the "Ethereum Punks," witnessed a significantly positive response from the community. All 10,000 assets were claimed almost instantaneously, reinforcing the positive acceptance of the protocol by the community. Challenges and Potential: Navigating the Ethereum Ecosystem Despite the initial success, the project's launch caused so much user activity that the API interface for the official Ethscriptions website temporarily crashed, indicating possible infrastructure challenges. Given the existing infrastructure that enables the creation of NFTs and other digital assets on the Ethereum network, it remains uncertain whether Ethscriptions will achieve the same level of popularity as Bitcoin Ordinals. Within six months, the total number of Ordinals inscribed on Bitcoin skyrocketed from zero to 10 million, driven primarily by users' fascination with minting assets and the novelty of minting entirely new tokens through the BRC-20 token standard on the Bitcoin network. The launch of the Ethscriptions protocol on Ethereum presents a significant development for digital asset creation on the blockchain. The Ethereum ecosystem continues to evolve and innovate, and it becomes clearer over this period that initiatives like Ethscriptions could potentially introduce new dynamics and possibilities. While the immediate impact is promising, the long-term success of this novel approach to asset creation remains to be seen. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Inspired by Bitcoin Ordinals inscriptions, Ethscriptions offer a new way to mint NFTs on Ethereum.

The NFT artist spoke to CoinDesk about his "disruptive" creative agency Gasoline and how he is using NFTs to push the boundaries of art and culture.