More than 53000 Bitcoin. sats domain names developed based on the Ordinals protocol have been minted

On March 7, according to the data of Dune Analytics, more than 53000 Bitcoin. Sats domain names developed based on the Ordinals protocol have been minted. The number of independent domain names after the duplication has reached 42000, and the number of independent casting addresses is close to 24000, resulting in a cost of 105 million SATS (about 23000 US dollars). Sats Names is the standard for writing names into Bitcoin using ordinal numbers. The goal is to establish a domain name ecosystem for Bitcoin. The first domain name “helloworld. sats” was registered on February 22, 2023.

Interpretation of this information:

The message discusses the recent surge in the development of Bitcoin Sats domain names that have been minted using the Ordinals protocol. As per the data from Dune Analytics, more than 53,000 such domain names have been developed, with the number of independent domain names standing at 42,000 after duplication. Additionally, there are close to 24,000 independent casting addresses, contributing to a cost of 105 million SATS, which is equivalent to about 23,000 USD.

The purpose behind creating Sats Names is to establish a domain name ecosystem for Bitcoin using ordinal numbers. In essence, this means standardizing how names are incorporated into Bitcoin. The first domain name that was registered using these standards was “helloworld.sats” on February 22, 2023.

Overall, the message reflects the rapid growth of the Bitcoin industry and how the development of tools and protocols can contribute to this growth. The use of Sats Names can facilitate a more straightforward and standardized way of incorporating domain names into Bitcoin, ultimately leading to a more streamlined and intuitive domain name ecosystem.