Despite harsh criticism from some camps, the popularity of Ordinals keeps growing. So far, there are over 161,000 inscriptions, according to analytics data from Dune. This has inspired some individuals to take the project to Litecoin. After all, both blockchains are quite similar, with a few differences. Like Bitcoin, Litecoin is a proof-of-work blockchain that supports faster transactions, in addition to featuring SegWit and Taproot technology, which are essential for Ordinals to work.
The quest to bring Ordinals to Litecoin began on February 10 after a pseudonymous Twitter user named Indigo Nakamoto challenged anyone to port the project to the network. In return, he promised to reward the individual with 5 LTC, or $500 at the time.
5 $LTC to whoever ports this to #Litecoin #Bitcoin #Ordinals https://t.co/7X4JfMzq97
— Indigo | Nakamotoist (@indigo_nakamoto) February 11, 2023
Anthony Guerrera, a software engineer, took up the challenge and recently successfully launched the Litecoin Ordinals project on GitHub. This was after forking the GitHub repository for Bitcoin Ordinals posted by its creator, Casey Rodarmor, last month.
Guerrera notes, “Basically, I was motivated by the bounty that Indigo and a few others put out for someone to port Ordinals to Litecoin.” That is when he “approached Indigo about a week ago to step up to the challenge.”
The bounty grew from 5 LTC to 22 LTC, or about $2100 at the time.
Porting Ordinals to Litecoin Proved Challenging
However, the porting wasn’t without its challenges. The coder had issues with Ordinals’ dependency on rust-bitcoin, which didn’t support the MimbleWimble upgrade on Litecoin. Thus, he had to fork “rust-bitcoin to make one that is able to work with Litecoin MWEB.”
MimbleWimble was launched last May with the goal of enhancing Litecoin’s privacy and transaction size.
Guerrera notes that the upgrade offers Litecoin an edge as individuals can inscribe more data on single transactions and at a lower cost than Bitcoin.
“Having MWEB built into the chain allows for users to be able to transfer funds privately before inscribing. For example, a statement piece while maintaining privacy is a huge advantage, unlike Bitcoin, which is a fully public ledger.”
Now the race to inscribe JPEGs and other data formats on Litecoin is on.
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Image Credit Via: Ordinals.com
*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the globe.