Bitcoin NFT market Open Ordex has launched the main network and test network

On February 23, it was reported that the Bitcoin NFT market Open Ordex has launched the main network and test network. The seller can create a partially signed Bitcoin transaction (PSBT) to specify the price of the serial number, and then the seller can sign the PSBT and broadcast it to the network.

Interpretation of this information:

The Open Ordex, a Bitcoin NFT market, has recently launched both its main and test networks on February 23. This development enables sellers to create partially signed Bitcoin transactions (PSBTs) that will determine the price of their serial numbers. After this initial process, the seller can then sign the PSBT and send it out to the network.

The main purpose of the Open Ordex is to create a more efficient and transparent way to trade NFTs using Bitcoin. With the launch of its networks, the platform aims to offer more flexibility and autonomy to NFT sellers, giving them more control over the pricing and transactions of their assets.

The use of PSBTs is an interesting feature of the Open Ordex. PSBTs are partially signed Bitcoin transactions that allow parties to collaboratively construct a transaction before it’s broadcasted to the blockchain. This process not only reduces the chances of errors and fraud but also ensures that transactions occur seamlessly between the buyer and the seller.

The launch of the Open Ordex’s main and test networks is a positive step in the evolution of Bitcoin NFT markets. The development of more efficient and transparent methods to trade NFTs is a significant step forward in legitimizing the market and overcoming the challenges associated with NFT trading.