Launch of ‘Quantum Cats’ in Bitcoin faces technical hurdles; only 30% of cats, equivalent to 90 BTC, are sold.
Ordinals protocol and its implementation of NFTs in Bitcoin generate debate; network congestion is a key concern.
The Ordinals project, along with Taproot Wizards, experienced technical difficulties during its first Bitcoin registration sale, the ‘Quantum Cats’. The sale, scheduled for an exclusive two-hour window, had to be postponed, revealing the challenges of implementing NFTs on the Bitcoin network.
Abundant Demand, Limited Capacity
High demand for these unique digital cats, valued at 0.1 BTC per unit, overwhelmed the server’s capacities. Only 30% of the available cats were sold before technical problems disrupted the event, equivalent to about 90 BTC ($3.9 million).
A Funding Company and a Hopeful Community
Magos Taproot, after raising $7.5 million in November, faced pressure to meet the expectations of an anxious community. User frustration was evident in the
Bitwise CIO Bullish on DeFi, Sees Aptos and Sui as ETF Contenders
Bitwise’s CIO says DeFi is “substantially undervalued” as utility tokens are poised to grow amid the U.S.’s crypto-friendly…
