Binance introduces a marketplace with an emphasis on Ordinals protocol

Cryptocurrency exchange Binance has launched a trading place dedicated solely to Ordinals protocol inscriptions. The exchange announced that BRC-20 standard tokens and other EVM-compatible assets will be able to be bought, sold, and mined on the new platform.

Via the Binance app, users can access the inscriptions marketplace, which is housed on the web3 wallet of the platform. The new product’s features, as stated by the developers, include faster transaction speeds, smooth transfers between the Binance platform and its cryptocurrency wallet, and the ability to purchase, sell, and mine BRC-20 tokens and other EVM coins.

Notably, the tool remains controversial even after all the hoopla surrounding the “inscription” of the Ordinals protocol. Consequently, inscriptions generated in the Ordinals protocol were added to the list of cybersecurity vulnerabilities by the U.S. National Vulnerability Database (NVD) in December 2023.

A specific vulnerability has been found, categorised, and judged important enough to warrant public awareness in order to be included to the list. At the moment, NVD is actively investigating the Bitcoin (BTC) network’s vulnerabilities. One of the possible outcomes, according to NVD, is the proliferation of spam and non-transactional data across the network of the original coin. Commissions and performance may suffer as a result.

According to Luke Dashjr, the developer of Bitcoin Core, BTC inscriptions leverage the weakness to distribute spam over the network.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

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