Litecoin Network Adopts Ordinal Inscriptions, Following Bitcoin’s Lead

Following the growing trend of Ordinal Inscriptions on the Bitcoin blockchain, this technology was ported to the Litecoin network and the number of on-chain Inscriptions in Litecoin exceeded 13,000. Software developer Anthony Guerrera received 22 Litecoins and ported this technology to the Proof of Work (PoW) blockchain, enabling audited inscriptions on the Litecoin network.

Digital collectibles are now possible with Litecoin.

Supporters of the cryptocurrency network Litecoin (LTC) are pleased to hear that Ordinal Inscription is now possible on the network. Software developerAnthony Guerrera accepted the challenge to port this technology to Litecoin after the offer increased from 5 LTC to 22 tokens,.

While there are many differences in the Litecoin network, the code base is similar to Bitcoin and includesadditional elementssuch as isolated witnesses (Segwit) andTaproot (Taproot)This allows for Ordinal Inscription on the Litecoin network.

“JUST IN: BTC is now on Litecoin. Ordinals are now on Litecoin,” Guerrera tweeted on February 18. The coder also shared an open-source codebase hosted on Github, further explaining that the first Ordinals have been carved on-chain. The developersaid:

The first Lightcoin Ordinal was inscribed into the Lightcoin blockchain. mimblewimble’s white paper will live on in Lightcoin forever.

Since the codebase was published and the first Lightcoin-based Ordinal was shared by Guerrera on Twitter, the number ofLTC-based Ordinalshas increased significantly, and the number of LTC-based Ordinals

has increased significantly, as well. As of this writing, there are approximately 13,211 Ordinals on the Litecoin blockchain. Many people are sharing their Litecoin Ordinals on social media to promote their newly launched LTC-based collections.

Meanwhile, the number of audinal nameplates on the Bitcoin blockchain has surpassed160,000and the trend continues to grow. Additionally, people are building infrastructure around Bitcoin-based Ordinals, including minting tools, wallets, and marketplaces that can issue Ordinal nameplates without full nodes for a basic fee.

There are also numerous collections competing to become “blue chip” non-fundable tokens (NFTs) on the bitcoin blockchain. Whether this trend will intensify in Litecoin, as it did in the Bitcoin network, remains to be seen, but after Guerrera minted the first one, thousands have followed. It will be interesting to see if digital collectibles minted in Bitcoin and Litecoin will enter the established NFT market economy dominated by chains like Ethereum.

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