Newsletter #112
An introduction to Ethscriptions: A new kind of NFT on Ethereum that is inspired by Bitcoin's Ordinals
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An introduction to Ethscriptions: A new kind of NFT on Ethereum that is inspired by Bitcoin's Ordinals
Earlier this week, a new form of non-fungible token was released on the Ethereum blockchain. Modeled on Ordinals, Bitcoin's version of NFTs, the new protocol is called Ethscriptions.
Ethscriptions exploit Ethereum's “calldata” to create a lower-cost and, arguably, more decentralized process for minting assets. In brief, “calldata” is the data sent with a transaction to tell a smart contract what function to execute and what parameters to use. It is stored in a special, read-only format which makes it perfect for non-fungible tokens.
Ethscriptions accommodates storage of images, files, or text up to 96kb directly on the Ethereum blockchain. The launch of the protocol was marked by the release of the Ethereum Punks project, which quickly saw its 10,000 assets claimed.
As of now, Bitcoin Ordinals have inscribed 13 million assets, while Ethscriptions, though recently launched, have reached a count of 180,000.
Not everyone is enthusiastic about Ethscriptions and the announcement has been met with some skepticism. Still, Ethscriptions are proof, once again, that the world of NFTs continues to evolve in unexpected directions. We can’t wait to see what will happen next!
Quick Start: Creating an Ethscription in 60 Seconds*
Ethscriptions.com has an easy creation tool, but if you want to go step-by-step:
Convert an image (max size: ~90KB) to a Base 64-encoded data URI (
data:image/png;base64,...) using a service like base64-image.de. The Ethscriptions protocol supports all data URIs but images work best.Convert the data URI to hex using an online tool like hexhero.
Send a 0 eth transaction to the person you want to own the Ethscription with the hex data from (2) in the "Hex data" field
After a few moments it should appear on this page, provided someone hasn’t already Ethscribed the same data. Duplicate content is ignored!
* source: ethscriptions.com
This week’s poll: Will you collect Ethscription NFTs?
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