A newly-introduced “token standard” for the Blockchain has caused the number of Ordinals scribed on the Bitcoin network to reach a new daily record high.
According to Dune Analytics data, Bitcoin Ordinals hit 58,179 inscriptions on April 2, shattering the previous record of 31,692 set on March 9, 2023.
The recent creation of “Bitcoin Request for Comment” (BRC-20) tokens on the Ordinals protocol by a pseudonymous on-chain analyst called Domo in early March is thought to be the primary cause of the rise. The BRC-20 token standard utilises Ordinal inscriptions to deploy token contracts, mint tokens, as well as transfer tokens.
While Ordinals are “digital artefacts” that resemble non-fungible tokens (NFTs) and carry data on the Bitcoin network in the forms of text, JPEG images, PDFs, videos, and audio files, the BRC-20 token standard uses Ordinal inscriptions to deploy token contracts, mint tokens, and transfer tokens, much like Ethereum’s ERC-20 token standard.
Allbridge Offers Bounty To Exploiter Of The Flash Loan Attack
Allbridge has offered a hacker who pilfered $573,000 from its platform a chance to come forward as a white hat and forgo any legal ramifications.
The attack was first discovered on April 1, 2023 by Blockchain security company Peckshield, which sent a Tweet to Allbridge warning that its BNB Chain pools swap price was being manipulated by a person acting as a liquidity provider and swapper.
This person was able to drain the pool of $282,889 in Binance USD and $290,868 worth of Tether.
Allbridge offered an olive branch to the hacker in the form of an undisclosed bounty, and the opportunity to avoid any legal repercussions in a Tweet on April 1, 2023, following the attack.
“Please contact us via the official channels (Twitter/Telegram) or send a message through tx, so we can consider this a white hat hack and discuss the bounty in exchange for returning the funds,” Allbridge wrote.
Amid a community uprising, the Arbitrum Foundation promises new votes and no “near-term” ARB sales. The backtracking will see Arbitrum hold a standalone vote on its 750 million token allocation.
Following a loud uprising by holders of its ARB token, the Arbitrum Foundation announced late Sunday that it will split a contentious governance package into several distinct votes in response to community pressure.
“AIP-1 is too large and covers too many topics. We will follow the DAO’s advice and split the AIP into parts,” said the Community Lead with the handle Eli_Defi in Arbitrum’s Discord server.
The Foundation, a centralised business tasked with promoting Arbitrum’s purportedly decentralised ecosystem, held a “ratification” vote over decisions it had already implemented, including sending almost $1 billion in tokens to itself, which sparked a day of rage in the Arbitrum community.
