{"id":19529,"date":"2023-04-05T20:23:07","date_gmt":"2023-04-05T20:23:07","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-stamps-emerge-as-new-image-storage-trend-on-the-bitcoin-blockchain-over-8000-stamps-minted-so-far-bitcoin-news\/"},"modified":"2023-04-05T20:23:07","modified_gmt":"2023-04-05T20:23:07","slug":"bitcoin-stamps-emerge-as-new-image-storage-trend-on-the-bitcoin-blockchain-over-8000-stamps-minted-so-far-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-stamps-emerge-as-new-image-storage-trend-on-the-bitcoin-blockchain-over-8000-stamps-minted-so-far-bitcoin-news\/","title":{"rendered":"Bitcoin Stamps Emerge as New Image-Storage Trend on the Bitcoin Blockchain, Over 8,000 Stamps Minted So Far \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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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.<\/strong><\/p>\n

From Ordinals to Stamps: A New Way to Store Images on Bitcoin Materializes<\/h2>\n

Bitcoin enthusiasts have been introduced to a new method of storing images on the Bitcoin network that\u2019s different from the Ordinal inscription process that has become a popular trend in recent months.<\/p>\n

\"Bitcoin<\/p>\n

The new Bitcoin Stamp scheme was created by the Twitter user Mike in Space<\/a>, and a summary<\/a> 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.<\/p>\n

\"Bitcoin<\/p>\n

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, \u201cthe fewer the bytes, the better,\u201d and recommends using \u201c24\u00d724 pixel, 8-color-depth PNG or GIF\u201d files.<\/p>\n

On March 31, 2023, the first 600 Bitcoin Stamps<\/a> were stamped, and as of writing, there\u2019s more than 8,000 stamps. A directory of Bitcoin Stamps is hosted at stampchain.io<\/a>, and the project also has support from Counterparty\u2019s xchain.io<\/a>. There are also collections like Pixel Gods<\/a>, and Bitcoin Stamps can be found on the Counterparty assets portal kaleidoscopexcp.com<\/a>.<\/p>\n

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You may not like it, but this is what peak performance looks like.#Bitcoin<\/a> Stamps pic.twitter.com\/xzpjR7sZCC<\/a><\/p>\n

\u2014 Mike In Space! (@mikeinspace) April 3, 2023<\/a><\/p>\n<\/blockquote>\n

The first Bitcoin Stamp, Stamp 0, was created<\/a> four weeks ago on March 7, 2023, at 1:19 a.m. UTC. Of course, similar to Ordinals, there has been criticism<\/a> of Bitcoin Stamps. When Mike in Space shared an image of a flow chart showing Bitcoin Stamp transactions, one person replied<\/a>, \u201cThis is intentionally bloating the UTXO set rather than putting data in the witness\u2026 Why would you do this\u2026?\u201d<\/p>\n

Mike responded<\/a>, saying, \u201cWitness data is prunable. The intent is permanence.\u201d Others were enthusiastic about the project and asked<\/a> how they could participate. Despite some opposition, at the end of the day, anyone can mint Bitcoin Stamps at any time without permission.<\/p>\n

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Base64<\/a>, Bitcoin<\/a>, Bitcoin Stamps<\/a>, Blockchain<\/a>, Counterparty protocol<\/a>, Criticism<\/a>, Cryptocurrency<\/a>, Decentralized<\/a>, Decentralized Storage<\/a>, Digital Assets<\/a>, directory<\/a>, emerging trends<\/a>, file formats<\/a>, github<\/a>, image encoding<\/a>, image storage<\/a>, Innovation<\/a>, kaleidoscopexcp.com<\/a>, Mike in Space<\/a>, nft<\/a>, Non-fungible tokens<\/a>, Ordinal inscription process<\/a>, permanence<\/a>, permissionless<\/a>, Pixel Gods<\/a>, prunable data<\/a>, Sats don’t exist<\/a>, signature data<\/a>, stampchain.io<\/a>, storage efficiency<\/a>, technology<\/a>, transaction processing<\/a>, Transparency<\/a>, Twitter<\/a>, unspent transaction outputs<\/a>, utxos<\/a>, witness data<\/a>, xchain.io<\/a><\/div>\n<\/div>\n

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.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie 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.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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