The Bitcoin blockchain is now being flooded by a new type of non-fungible token (NFT) through the STAMPS (Secure Tradeable Art Maintained Securely) protocol, a new way of embedding image data into the blockchain, with different pros and cons compared to the encoding technology that went viral earlier this year.
“Bitcoin Stamps” store image data right in spendable transaction outputs, not in erasable transaction witness data. On the project’s GitHub page its pseudonymous creator, Mike In Space, explained that doing so preserves the data “ in such a manner that is impossible to prune from a full node, preserving the data immutably forever.”
The developer also revealed that he is in talks with Emblem and Hiro Wallet to integrate the protocol, with the former enabling Stamps trading on OpenSea.
The protocol’s creator recommends using Stamps for small “24×24 pixel, 8-color-depth PNG or GIF” files to compensate for their storage costs. Stamps are also semi-fungible, meaning they can be unique pieces of digital assets that are part of a wider collection.
Over 8,300 Stamps have been minted on the blockchain in their first month since launch, compared to less than 500 Ordinals in the same period after their launch.
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- Source: https://www.cryptocompare.com/email-updates/daily/2023/apr/07/
