Bitcoin Stamps Emerge as New Image-Storage Trend on the Bitcoin Blockchain, Over 8,000 Stamps Minted So Far

Bitcoin Stamps Emerge as New Image-Storage Trend on the Bitcoin Blockchain, Over 8,000 Stamps Minted So Far

After the Ordinal inscription process gained significant traction on the Bitcoin blockchain with more than 800,000 inscriptions to date, a new trend of non-fungible token (NFT) technology has emerged called Bitcoin Stamps. The image-storing technique is a new way of storing images on Bitcoin, and so far, more than 8,000 stamps have been minted. From Ordinals to Stamps: A New Way to Store Images on Bitcoin Materializes

Bitcoin enthusiasts have been introduced to a new method of storing images on the Bitcoin network that’s different from the Ordinal inscription process that has become a popular trend in recent months.

The new Bitcoin Stamp scheme was created by the Twitter user Mike in Space, and a summary of the project is hosted on Github. Basically, the technology provides a way to split an image into numerous unspent transaction outputs (UTXOs) by encoding it in Base64 text and leveraging the Counterparty protocol to broadcast it to Bitcoin.

Bitcoin Stamps cannot be pruned like witness or signature data, and creating a Stamp is pricier than Ordinal inscriptions. Because of the expense, the Github summary of Bitcoin Stamps says, “the fewer the bytes, the better,” and recommends using “24×24 pixel, 8-color-depth PNG or GIF” files.

On March 31, 2023, the first 600 Bitcoin Stamps were stamped, and as of writing, there’s more than 8,000 stamps. A directory of Bitcoin Stamps is hosted at stampchain.io, and the project also has support from Counterparty’s xchain.io. There are also collections like Pixel Gods, and Bitcoin Stamps can be found on the Counterparty assets portal kaleidoscopexcp.com. You may not like it, but this is what peak performance looks like.#Bitcoin Stamps pic.twitter.com/xzpjR7sZCC

— Mike In Space! (@mikeinspace) April 3, 2023

The first Bitcoin Stamp, Stamp 0, was created four weeks ago on March 7, 2023, at 1:19 a.m. UTC. Of course, similar to Ordinals, there has been criticism of Bitcoin Stamps. When Mike in Space shared an image of a flow chart showing Bitcoin Stamp transactions, one person replied, “This is intentionally bloating the UTXO set rather than putting data in the witness… Why would you do this…?”

Mike responded, saying, “Witness data is prunable. The intent is permanence.” Others were enthusiastic about the project and asked how they could participate. Despite some opposition, at the end of the day, anyone can mint Bitcoin Stamps at any time without permission. Tags in this story Base64, Bitcoin, Bitcoin Stamps, Blockchain, Counterparty protocol, Criticism, Cryptocurrency, Decentralized, Decentralized Storage, Digital Assets, directory, emerging trends, file formats, github, image encoding, image storage, Innovation, kaleidoscopexcp.com, Mike in Space, nft, Non-fungible tokens, Ordinal inscription process, permanence, permissionless, Pixel Gods, prunable data, Sats don"t exist, signature data, stampchain.io, storage efficiency, technology, transaction processing, Transparency, Twitter, unspent transaction outputs, utxos, witness data, xchain.io

What do you think about the emergence of Bitcoin Stamps as a new image-storage trend on the Bitcoin blockchain? Let us know your thoughts in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Microstrategy"s Bitcoin Holdings Reach 140,000 BTC After Acquiring 1,045 More Bitcoins NEWS | 2 hours ago China Ready to Talk Asian Monetary Fund to Cut Dollar Dependence, Malaysia Says NEWS | 10 hours ago

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