What are Ordinals Inscriptions
Last updated
Last updated
What are Bitcoin Ordinals? You said Bitcoin NFT ? Nooo, Bitcoin Ordinals are Digital Artifacts'. It's a way to inscribe digital content on the Bitcoin blockchain. Ordinal Inscriptions are digital assets inscribed on a satoshi, the lowest denomination of a BTC. Inscribing on satoshis, named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto, is possible thanks to the Taproot upgrade launched on the Bitcoin network on November 14, 2021. In December 2022, Casey Rodarmor launched the Ordinals Protocol, allowing digital content like art, text, and videos to be inscribed on the Bitcoin blockchain. The 1st ordinal - 'Genesis ordinal', is a pixel art skull that Rodarmor created on Dec 14, 2022 at 20:32:00 UTC.
This represents the initial significant advancement in the Bitcoin application layer, prompting a shift in the narrative from merely being a "store of value" to adopting a more practical and utilitarian role. When Ordinals were introduced in January 2023, you couldn't mint, transfer or trade them without running your own Bitcoin Node. Now there are several inscriptions services, markeplaces and wallets even with hardware support. Let's dive into this!