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$130.00 -0.19666
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Bitcoin
Bitcoin (BTC)
$67,402.00 7.39334
Bitcoin price
Ethereum
Ethereum (ETH)
$3,595.51 3.66541
Ethereum price
BNB
BNB (BNB)
$416.78 0.72501
BNB price
Solana
Solana (SOL)
$130.00 -0.19666
Solana price
XRP
XRP (XRP)
$0.6561280 4.64286
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000339 54.45723
Shiba Inu price
Pepe
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$0.0000075 34.32328
Pepe price
Bonk
Bonk (BONK)
$0.0000417 64.60312
Bonk price
Bitcoin
Bitcoin (BTC)
$67,402.00 7.39334
Bitcoin price
Ethereum
Ethereum (ETH)
$3,595.51 3.66541
Ethereum price
BNB
BNB (BNB)
$416.78 0.72501
BNB price
Solana
Solana (SOL)
$130.00 -0.19666
Solana price
XRP
XRP (XRP)
$0.6561280 4.64286
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000339 54.45723
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000075 34.32328
Pepe price
Bonk
Bonk (BONK)
$0.0000417 64.60312
Bonk price
Bitcoin
Bitcoin (BTC)
$67,402.00 7.39334
Bitcoin price
Ethereum
Ethereum (ETH)
$3,595.51 3.66541
Ethereum price
BNB
BNB (BNB)
$416.78 0.72501
BNB price
Solana
Solana (SOL)
$130.00 -0.19666
Solana price
XRP
XRP (XRP)
$0.6561280 4.64286
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000339 54.45723
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000075 34.32328
Pepe price
Bonk
Bonk (BONK)
$0.0000417 64.60312
Bonk price

Bitcoin Ordinals marketplace Bioniq launches on ICP

bitcoin-ordinals-marketplace-bioniq-launches-on-icp
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Bitcoin Ordinals marketplace Bioniq launches on ICP

Bioniq, a new marketplace for Bitcoin Ordinals, introduces a distinctive approach by operating on the Internet Computer (ICP) blockchain.

The introduction of Bioniq, a Bitcoin Ordinals marketplace, marks a notable development in the evolving landscape of cryptocurrency. Distinctively, Bioniq operates on the Internet Computer (ICP) blockchain, a platform developed by Dfinity, rather than directly on Bitcoin. This approach positions ICP as a type of layer-2 network for Bitcoin, a significant deviation from traditional practices in this space.

https://twitter.com/bioniqMarket/status/1630438454990606337

Bioniq claims to offer several benefits including being the “world’s fastest” marketplace for Bitcoin Ordinals, incorporates a built-in wallet with optional Google login via Web3Auth and does not impose network transaction or gas fees on traders.

The platform uses a token wrapping process where Bitcoin and Ordinals assets are transferred to Bioniq’s wallet, then “wrapped”, creating a corresponding NFT on the ICP network. This enables trading on the ICP network, which is touted to be faster and less costly than the Bitcoin (BTC) network.

Despite these claimed advantages, Bioniq’s approach involves additional steps, potentially complicating the user experience. Users must transfer and wrap their assets on a different blockchain, which may not appeal to those seeking a more straightforward, Bitcoin-centric trading process.

Furthermore, the platform’s reliance on the Internet Computer network introduces a layer of complexity and potential risks, as the stability and security of this less established blockchain are factors to consider.

Bioniq also introduces new features like adjustable offers and English auctions with set reserve prices, expanding the functionality of Ordinals marketplaces. Future plans for the platform include developing a launchpad for new collections, a crypto borrowing system using Ordinals assets as collateral, and collection offers for specific projects.

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