Bioniq CEO Bob Bodily talks about Ordinals and the need for covenants on the Bitcoin network at Bitcoin 2024.
The Bitcoin network's OP_CAT upgrade has sparked new interest in building apps on Bitcoin, as it may reintroduce functionality that Satoshi Nakamoto removed in 2010. At the Bitcoin2024 event, Bioniq CEO Bob Bodily said hundreds of developers are “shouting from the rooftops” about the potential benefits.
Bioniq is a marketplace for Ordinals — Bitcoin non-fungible tokens (NFTs) — that do not incur gas fees. Bioniq began development in February 2023, a month after the introduction of Ordinals.
“I've seen more interest in the last, I don't know, 18-19 months on Bitcoin than the last five years before that,” Bodily told Cointelegraph. That uptick in attention corresponds to the introduction of Ordinals, a layer-2 application on the Bitcoin network.
