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What is a bitcoin ordinal?

Ordinals are NFTs with data fully stored or “inscribed” on the Bitcoin network. Ordinals have aroused controversy due to Bitcoin’s "true purpose" as electronic cash, and the perceived inefficiency of consuming block-space to encode digital files on the Bitcoin blockchain.

Are ordinal inscriptions taking bitcoin by storm?

Ordinals are taking Bitcoin by storm. Ordinal Inscriptions, similar to NFTs, are digital assets inscribed on a satoshi, the lowest denomination of a Bitcoin (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.

Is the ordinals project bringing innovation to the bitcoin space?

While the crypto community seems divided on the topic, the Ordinals project has certainly brought innovation to the Bitcoin space. The Ordinals ecosystem is in its infancy, and minting an ordinal NFT is still tricky and may require technical knowledge. For example, there are no NFT marketplaces that allow users to create them easily.

La première plateforme de trading de cryptomonnaies au monde

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