Bioniq, which is backed by Polygon Capital, has launched the Bitcoin Ordinals market, which will use ICP to complete integration with Bitcoin, thereby reducing transaction costs and time for users.
Bioniq CEO and co-founder Bob Bodily said in a statement that no major platform or marketplace has been developed to specifically support Bitcoin Ordinals transactions on a separate L1 without paying scalable gas or network fees. While the new Ordinals boom will bring more utility to the BTC network, it also brings congestion and higher network fees. (The Block)