Bitcoin infrastructure developer Nostr Assets has halted deposits following a surge in user activity, reaching an all-time high. In a Telegram announcement on December 5, the Nostr Assets team advised users to refrain from depositing until further updates are provided. The platform enables the trading of Satoshis—equivalent to one millionth of a Bitcoin—via the Lightning and Taproot networks. It claims to have drawn over 70,000 new users since October 30, with 280 BTC (approximately $11.8 million) deposited.
On December 4, Fiatjaf, the creator of the Nostr protocol facilitating the exchange of social profiles and followers across platforms, accused the Nostr Asset team of conducting an affinity scam. Fiatjaf cautioned against depositing Sats on the platform, emphasizing that NostrAssets is not directly associated with the Nostr protocol. However, these allegations remain unverified by legal authorities.
In response, Nostr Assets dismissed the allegations as groundless, asserting its connection to Nostr, Taproot Assets, and Lightning in its construction, linking it to the Nostr ecosystem. The team clarified that while it leverages Nostr, the network is decentralized, open-source, and censorship-resistant, welcoming anyone to build upon it.
Simultaneously, the cumulative sales of non-fungible tokens (NFTs) on the Bitcoin network have surpassed $1 billion. Ordinals, a meme token on the Bitcoin network, has surged to a $1 billion market capitalization since its inception in January. Developed by Web3 developer Rodarmor, the BRC-20 token is hailed as a significant technological leap in blockchain within the past 15 years.
The Bitcoin Serial Number system uniquely identifies each satoshi for tracking and transfer purposes, supplemented by the Bitcoin inscription process that adds further data for every satoshi. This framework allows users to create distinct digital assets on the Bitcoin blockchain. Notably, the token ORDI listed on Binance isn't linked to the developers behind Bitcoin Ordinals, highlighting a distinction between the two projects.
