Creativity or Chaos?
How Bitcoin and AI Are Reimagining the Art World
Innovation continually advances, shaping both the Bitcoin ecosystem and the broader technological landscape. Recent breakthroughs in Bitcoin and AI have been particularly impactful, revolutionising industries like digital art.
The internet has democratised art, extending artists' reach globally. But this freedom complicates copyright enforcement. Blockchain technologies like Ethereum introduced non-fungible tokens (NFTs), digital certificates that confer "ownership" over artworks. However, NFTs have limitations; specifically that they are not fully decentralised or secure due to Ethereum's architecture.
Enter the "Ordinals" protocol by Casey Rodarmor, launched in January 2023. It employs "Ordinal Theory" to link data in a Bitcoin transaction to a specific satoshi, allowing for fully decentralised, censorship-resistant digital ownership.