Binance Pool has launched a new service that allows users to inscribe additional data directly onto satoshis on the Bitcoin blockchain. Called the Ordinals Inscription Service, it enables the creation of unique digital artifacts by etching customized information onto individual satoshi units.
What you'll learn 👉
Inscriptions Stored Immutably on Bitcoin
The inscribed data gets stored permanently and immutably on the BTC network. This creates unique satoshis that have the added data etched onto them via the Ordinals protocol.
Ordinals leverages Taproot, a privacy-enhancing upgrade activated on Bitcoin in 2021. Using Taproot addresses is a requirement to utilize the inscription service.
Creating Digital Collectibles
The ability to embed customized information onto satoshis opens up creative possibilities. Users can leverage the service to mint limited edition digital collectibles or annotate satoshis for other use cases.
Binance Pool highlighted the ability to catalog satoshis into organized sets using inscribed ordinal data. The company provided an example of inscribing satoshis with sequential numbers to create a collection of tokens.
Verified Accounts Only
To use the new inscription service, Binance Pool users are required to complete identity verification and hold a Taproot address. The company said this ensures proper tracking and compliance.
According to Binance Pool’s terms and conditions, the English version of any translated content takes precedence where discrepancies exist.
The launch demonstrates Binance Pool’s continued efforts to build new functionality atop the Bitcoin protocol. The inscription service provides another way to leverage the transparency and immutability of BTC.
A recent tweet below Binance’s announcement highlighted several lesser-known crypto projects that traders believe offer the possibility for enormous gains. The coins mentioned included OSHI, TRAC, and ORPO – three microcap gems traded mainly on decentralized exchanges.
According to the anonymous Twitter user who started the thread, the low market caps of these coins combined with their big ambitions could lead to “life changing gains”, in their words.
While risky, buying into these virtually unknown altcoins early could pay off big if they end up succeeding in their aims. Their prices have lots of room to multiply in value if they gain traction.
The thread called out OSHI, a smart contract platform with a current sub-$10 million market cap, as one of the top options. OSHI aims to optimize smart contracts through its protocol and currently processes transactions via the BSC network.
TRAC, another microcap play on BSC highlighted by the thread, currently comes in with under $10 million market capitalization. TRAC bills itself as an alternative trading system for leveraged token products.
Lastly, ORPO got a mention as having high upside potential. Still below $5 million in market value, ORPO is building a suite of open source blockchain tools and infrastructure.
While the crypto projects are high risk moonshots, traders are betting on their potential for exponential growth if they gain popularity. As the saying goes – scared money don’t make money. For those willing to risk it, these microcap gems could potentially make early investors a fortune.
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