Bitcoin On-Chain NFTs Are One Thing, But There Are Potential Tradeoffs – CryptoMode
When people think of NFTs, they often look at Ethereum, Solana, or Layer-2 networks. However, few realize that it is possible to use non-fungible tokens with the bitcoin network. This is not a traditional approach, and Taproot can be “blamed” for this side effect.
Bitcoin, NFT and OP_RETURN
Those who know the Bitcoin network can recall how Omni, Counterparty and Veriblock created a heated debate regarding OP_RETURN. The output of the transaction is obviously unspendable, although it is used to burn BTC. Additionally, developers and users can use OP_RETURN to…