More than 53000 Bitcoin. sats domain names developed based on the Ordinals protocol have been minted
On March 7, according to the data of Dune Analytics, more than 53000 Bitcoin. Sats domain names developed based on the Ordinals protocol have been minted. The number of independent domain names after the duplication has reached 42000, and the number of independent casting addresses is close to 24000, resulting in a cost of 105 million SATS (about 23000 US dollars). Sats Names is the standard for writing names into Bitcoin using ordinal numbers. The goal is to establish a domain name ecosystem for Bitcoin. The first domain name “helloworld. sats” was registered on February 22, 2023.
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The message discusses the development of Sats Names, a protocol that allows for the standardization of domain names in Bitcoin using ordinal numbers. Dune Analytics data reveals that over 53,000 Bitcoin Sats domain names have been minted, resulting in a cost of 105 million SATS (around $23,000). The number of independent domain names after duplication has reached 42,000, with almost 24,000 independent casting addresses. The aim is to support the creation of a domain name ecosystem for Bitcoin. The first domain name, “helloworld.sats” was registered on February 22, 2023.
The development of Sats Names is a significant milestone in the standardization of domain names in the Bitcoin ecosystem. Bitcoin, despite its increasing adoption rate, still lacks a consistent naming system. The Sats Names protocol aims to address these issues by standardizing domain names. The protocol utilizes ordinal numbers, which allow for the creation of a unique and dynamic naming system. This standardization is an important step towards making Bitcoin more accessible and user-friendly for non-technical users.
The data from Dune Analytics indicates a high level of interest in Sats Names, with over 53,000 domain names already minted. The cost of minting these domain names was 105 million SATS, which is a sign of the value that people place on these standardized domain names. The protocol’s success is also reflected in the large number of independent domain names and casting addresses, which will likely grow as more people adopt the protocol.
In summary, Sats Names is a protocol that standardizes domain names in the Bitcoin ecosystem. Over 53,000 Bitcoins Sats domain names have already been minted using the ordinal system, costing 105 million SATS. This development is significant, as it will help to make Bitcoin more user-friendly and accessible to non-technical users.
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