Ethereum Inscriptions, more commonly known as Ethscriptions, have recently emerged as a groundbreaking protocol. Following the significant impact of Bitcoin Ordinals Inscriptions, which revolutionized the Web3 space by introducing the Ordinals protocol in January 2023, Ethscriptions have captivated the attention of developers, crypto enthusiasts, and investors alike since their introduction in June 2023.

What are Ethscriptions?

Each Ethscription is a unique data URI (Uniform Resource Identifier), ensuring originality and ownership changes based on transaction input data.

Ethscriptions harness the power of the Ethereum blockchain to enable the creation and sharing of digital entities. Unlike traditional financial transactions, Ethscriptions focus on inscribing non-financial data directly onto the Ethereum main chain, utilizing Ethereum "calldata" to facilitate communication between entities and smart contracts. This innovative approach not only provides a decentralized alternative to contract storage but also offers affordability, accessibility, and security.

How it works

Ethscriptions come to life with the successful execution of an Ethereum transaction, wherein the input data forms a valid data URI. The input data, interpreted as UTF-8, must be unique to ensure content integrity. Ethscriptions currently support all valid mimetypes and guarantee uniqueness by ensuring no prior block or transaction within the same block possesses identical content.

Moreover, Ethscriptions can be transferred through Ethereum transactions as long as the data represents the transaction hash of a valid Ethscription, and the sender holds rightful ownership. While images are the primary form of Ethscriptions presently, Tom Lehman, the mastermind behind Ethscriptions, has hinted at expanding the protocol to include diverse data types in the future.

In a recent tweet, Lehman emphasized the affordability and decentralized nature of Ethscriptions, highlighting their ability to unlock Ethereum's full potential. This vision has resonated strongly within the Web3 community, with many eagerly awaiting the impact Ethscriptions will have on the ecosystem. 

While some critics have raised questions about the novelty of the protocol and whether Ethscriptions will see the same success as Ordinals, Lehman remains undeterred and committed to enhancing Ethscriptions as a foundation for future innovations.

Trading Ethereum Inscriptions

BIT is planning to make the ETHS collection available for trading directly on BIT.

Meanwhile, explore different collections in the Ethereum Inscriptions universe on ethscriptions.com.