Home>BLOCKCHAIN>Bitcoin custodian Nostr Property pauses deposits after reaching ‘most capability’

Bitcoin custodian Nostr Property pauses deposits after reaching ‘most capability’


Bitcoin infrastructure developer Nostr Property has paused deposits following record-high consumer exercise.

Based on a Dec. 5 announcement posted on Telegram, Nostr Property builders warned, “Please await additional bulletins and don’t try to deposit into NostrAssets in the interim.” The service, which permits customers to transact Satoshis, or or 1/100 millionth of a Bitcoin (BTC), by means of the Lightning and Taproot Networks, claims to have onboarded over 70,000 new customers since Oct. 30 and attracted 280 Bitcoin in novel deposits ($11.8 million) over that interval. 

An evidence of the incident on Nostr Property’ official Telegram

On Dec. 4, Fiatjaf, the creator of the Nostr protocol, which allows customers to interchange their social profiles and their followers on totally different platforms, alleged that the Nostr Asset crew was working below an affinity rip-off. “Nostrassets has nothing to do with the Nostr protocol itself. It simply borrows nostr in naming. You shouldn’t deposit any sats to this platform,” stated Fiatjaf. The allegations haven’t been confirmed in a authorized establishment. 

Nostr Property builders dismissed the allegations as “unfounded,” writing:

“NostrAssets makes use of Nostr, Taproot Property, and Lightning in its building, making it pertinent to Nostr. Nevertheless, it is essential to emphasise that Nostr is a decentralised, open-sourced and censorship-resistant relay community that anybody can construct on.”

The next day, the overall quantity of non-fungible token (NFT) gross sales on the Bitcoin community surpassed $1 billion. In the meantime, Ordinals, a meme token minted on the Bitcoin community, reached $1 billion in market cap. Invented by Web3 developer Rodarmor in January, BRC-20 tokens have surged in recognition as one of many largest technological developments in a 15-year-old blockchain.

Bitcoin Ordinals is a numbering system that assigns a novel quantity to every particular person satoshi, enabling their monitoring and switch. Mixed with the Bitcoin Inscription course of, which provides a further layer of information to every satoshi, this permits customers to mint distinctive digital property on the Bitcoin blockchain. Nevertheless, the present token listed on Binance, ORDI, isn’t related to builders of Bitcoin Ordinals.

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