{"id":20552,"date":"2023-08-02T07:00:22","date_gmt":"2023-08-02T07:00:22","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-ordinals-team-launch-nonprofit-to-grow-protocol-development\/"},"modified":"2023-08-02T07:00:24","modified_gmt":"2023-08-02T07:00:24","slug":"bitcoin-ordinals-team-launch-nonprofit-to-grow-protocol-development","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-ordinals-team-launch-nonprofit-to-grow-protocol-development\/","title":{"rendered":"Bitcoin Ordinals team launch nonprofit to grow protocol development"},"content":{"rendered":"

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A non-profit organization dedicated to growing the development of nonfungible tokens (NFTs) on Bitcoin (BTC) has been launched by the team behind the Bitcoin Ordinals protocol.<\/p>\n

The California-based nonprofit called the Open Ordinals Institute will bolster the Ordinals protocol by providing funding to the team\u2019s core developers, which includes the project\u2019s pseudonymous lead maintainer Raph<\/a>.<\/p>\n

In total, four team members will serve on the board of the new nonprofit; Raph, Bitcoin-focused podcast host Erin Redwing an anonymous Ordinals developer known as Ordinally and Ordinals creator Casey Rodarmor.<\/p>\n

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The Ordinals protocol team is proud to announce the launch of the Open Ordinals Institute, a 501(c)(3) non-profit organization to foster the growth and advancement of the Bitcoin Ordinals protocol. Donations can be made at our website: https:\/\/t.co\/H7ymKSL4VR<\/p>\n

\u2014 Open Ordinals Institute (@ordinalsorg) August 1, 2023<\/a><\/p><\/blockquote>\n

The Ordinals protocol was launched in January by Rodarmor. It rapidly became one of the most popular crypto trends with users rushing to inscribe assets on the Bitcoin blockchain, including NFTs and Bitcoin-based cryptocurrencies.<\/p>\n

On May 28, Rodarmor stepped down as the protocol\u2019s lead maintainer and handed the role over to Raph.<\/p>\n

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I haven’t been able to give ord the attention it deserves, so I am pleased to announce that @raphjaph<\/a> has agreed to step up as lead maintainer!<\/p>\n

Raph is an impoverished student, and his work on ord will be entirely funded by donations. If you can, please consider donating!\u2026<\/p>\n

\u2014 Casey (@rodarmor) May 28, 2023<\/a><\/p><\/blockquote>\n

As of Aug. 1, 5:30 pm UTC, the total number of Bitcoin Ordinals inscriptions topped\u00a021 million, an auspicious milestone for users of the Bitcoin network.<\/p>\n

Related: <\/em><\/strong>Bitcoin has entered a civil war \u2014 Over \u2018art\u2019<\/em><\/strong><\/p>\n

The team also launched the official website for the organization, Ordinals.org, allowing users to make donations and view updates to the project\u2019s development. <\/p>\n

According to the official website, any donations made to the Institute will be tax-deductible for United States taxpayers following the organization\u2019s approval by the Internal Revenue Service, which it expects to occur sometime later this year. <\/p>\n

Magazine:\u00a0<\/em><\/strong>Should you \u2018orange pill\u2019 children? The case for Bitcoin kids books<\/em><\/strong><\/p>\n<\/div>\n