Beauty of technology is that it can always change and evolve, most times for the good. Technology advancement is a reality no matter how slow it might get sometimes. This is what we are seeing with the blockchain, in the beginning, I guess blockchain was just an idea. Satoshi Nakamuto brought it into reality, later it was limited to just bitcoin, other platforms like Ethereum, XRP and so on, created their own blockchain.
Now we are seeing tokens being shifted from one blockchain to another through bridging. We can see that with our Leo tokens being moved from the Hive blockchain to the Ethereum blockchain as WLEO or to the Binance SmartChain as bLeo. Same is done with the Satoshible NFTs through the help of stacks bridge.
Satoshible is an Ethereum based collection of NFTs with a pseudonymous image of the man thought to be Satoshi Nakamuto. You must have seen him on a bitcoin meme. These NFTs are unique with lots of different attributes to differentiate them from one another but have the same pseudonymous image of the supposed meme Satoshi Nakamuto.
These NFTs were created to display and showcase their love for bitcoin but unfortunately it’s not possible to create or mint an NFT on the Bitcoin Blockchain. Hence, the use of the Ethereum blockchain to mint these NFTs. You won’t blame the artist that had to use the Satoshi meme to create these NFTs because the identity of the real Satoshi Nakamuto is unknown. No one knows it’s gender or knows if it’s a group of people or just a sole creator of bitcoin. So it felt right to the artist behind the creation of the Satoshibles to create an NFT to honor Satoshi Nakamuto.
Understanding Stack Bridging
When Satoshi Nakamuto was building the bitcoin blockchain and writing the bitcoin smartchain, he didn’t include a smart contract to enable minting of NFTs. So bitcoin doesn’t have that ability to have NFTs minted on its blockchain.
But Stacks is a decentralized application that helps utilize the bitcoin blockchain‘s full potential. It helps in assisting transactions outside Bitcoin, masks them and roll it up like a bitcoin transaction.
The community behind the satoshible is quite a strong one, who are in love with bitcoin, you can call them bitcoin maximalist, but they wish these NFTs were on the Bitcoin blockchain instead of the Ethereum blockchain. But have no choice but get the satoshibles, while we have some bitcoin maximalist who wouldn’t touch any other coin aside Bitcoin or any other blockchain besides Bitcoin’s blockchain. Most of them complained on how annoying it is that they had to use ETH to buy their favorite NFTs which is the Satoshible.
Jack Dorsey is a big unapologetic Bitcoin Maximalist, he claimed not to own any other cryptocurrencies except his bitcoin holdings. He minted his first tweet on Ethereum blockchain, sold it off for $2 Million worth of ETH, wasted no time in converting the ETH to BTC. I don’t really know if or think he owns an NFT, but who cares if he does. My main point is, bitcoin maximalist will be so excited and quick to purchase NFTs that gets bridged from the Ethereum blockchain to Stack.