Even though not everyone has embraced this development, the most infamous privacy-focused blockchain now allows non-fungible tokens (NFTs). Anyone can use Mordinals (also known as Monero Ordinals) to encrypt data alongside transactions on the Monero blockchain, much like with Bitcoin Ordinals.
Community Reaction to Monero Ordinals Escalates
Concerns regarding this situation have been voiced by the Monero community on many occasions, including the potential for illegal content to be kept in an unremovable database and a loss of anonymity on the network.
What is Mordinals?
Unlike Ordinals, which rely on the witness portion of a Bitcoin transaction, Mordinals is a slightly modified form of Ordinals that may be utilized on the Monero blockchain. Every Monero transaction has a “tx_extra” field that may store information.
Since 2014, Monero has had the potential to implement this, but support has recently been public. In many ways, the arguments against Bitcoin and Mordinals are the same. Additionally, there is a worry that it would jeopardize the privacy that Monero provides.
Monero Community and Anonymity
It was never going to be simple to deploy NFTs on a network that strives to keep its tokens anonymous, given how strongly the Monero community values privacy. “Ring signatures,” which encrypt user information by fusing a transaction with several fake signatures, are used to validate Monero transactions.
A wealthy attacker might flood Monero blocks with Mordinals, making it simple to distinguish between legitimate transactions and fraudulent NFTs. This is a legitimate concern for the Monero community.
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