The Ordinals ecosystem has once again welcomed a major update. In February this year, Casey Rodarmor released version 0.12 of Ordinals, which brought several substantial changes.

The highlight is the recursive inscription feature — a single inscription can now invoke other inscription code, directly opening the door to complex applications. At the same time, the introduced namespace mechanism also solves the long-standing issue of inscription ID conflicts. The underlying technology has also been working hard; storage index optimization has boosted query speeds by 5 times, significantly improving the ecosystem application experience.

Following these improvements, the BRC-20 standard was upgraded to version V2, adding support for programmable logic. As a result, the first truly decentralized exchange in the Bitcoin ecosystem, Bisq 2.0, went live, with a trading volume of $870 million in its first month, which itself demonstrates the market's enthusiasm.

Data shows that the total number of inscriptions has exceeded 100 million, with on-chain storage data reaching 35TB. This scale is also prompting industry players to rethink the resource allocation logic of Bitcoin block space.