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Ordinals NFTs Cause Spike in Bitcoin Transaction Costs and Highlight Need for Layer-2 Solutions, Says Trust Machines CEO

The recent launch of the Ordinals protocol has caused disruption to the Bitcoin network, as it allows for the addition of digital content such as non-fungible tokens (NFTs) to the blockchain. Since the launch of Ordinal NFTs in January 2023, Bitcoin's traffic has increased significantly, leading to higher transaction costs and highlighting issues with the network.

However, Muneeb Ali, CEO of Trust Machines, believes that the hype around Ordinals NFTs could attract more developers and capital to layer-2 solutions for Bitcoin. Despite the potential for growth, the Bitcoin space still struggles to attract developers and lacks a marketing department or foundation, which Ali believes hinders the development of a solid developer ecosystem.


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