The idea behind ordinal inscriptions
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The idea behind ordinal inscriptions
The idea behind ordinal inscriptions is to create a new form of scarcity in the Bitcoin ecosystem. By inscribing a digital asset onto a satoshi, it becomes a unique, one-of-a-kind item that cannot be duplicated or replicated. This could be valuable for collectors or enthusiasts interested in owning a piece of Bitcoin history.
Re: The idea behind ordinal inscriptions
Ordinals are immutable and complete digital artefacts. Unlike traditional CoinsPaid Media, NFT, they cannot be tampered with and they reside completely on-chain.
As you may know, the smallest denomination of bitcoin ordinals is known as a satoshi or a Sat - one BTC is equal to 100,000,0000 sats. The Ordinals Protocol allows users to send and receive sats that carry optional extra data. This data can be text, JPEGs, audio or videos.
Adding such kinds of data to a satoshi is known as inscription and the end result can be considered as a Bitcoin NFT or an ordinal.
This latest innovation allows developers and artists to create and store digital artefacts directly on the Bitcoin blockchain. The protocol has been a massive hit, with more than 100,000 ordinals minted so far.
As you may know, the smallest denomination of bitcoin ordinals is known as a satoshi or a Sat - one BTC is equal to 100,000,0000 sats. The Ordinals Protocol allows users to send and receive sats that carry optional extra data. This data can be text, JPEGs, audio or videos.
Adding such kinds of data to a satoshi is known as inscription and the end result can be considered as a Bitcoin NFT or an ordinal.
This latest innovation allows developers and artists to create and store digital artefacts directly on the Bitcoin blockchain. The protocol has been a massive hit, with more than 100,000 ordinals minted so far.
Re: The idea behind ordinal inscriptions
While cryptocurrency is gaining prominence, its current popularity alone doesn't guarantee it as a wise investment. Before investing, assess your risk tolerance. If you have disposable income and are willing to take risks, it might be worth the gamble. However, for most investors, it's advisable to exercise caution with Bitcoin at this moment. Ethereum tracking options on this website to monitor transaction details and stay informed about market dynamics.
Re: The idea behind ordinal inscriptions
Good day everyone! I'm interested in Bitcoin investments. Please tell me where is the best and most profitable place to buy bitcoins now?
Re: The idea behind ordinal inscriptions
Hello! Of course, the choice of exchanges for buying and selling cryptocurrency is very large. Therefore, you should think about how to simplify and speed up the process of choosing the best price offer for cryptocurrencies. For more info, you should read this useful blog where you will find everything about the right approach to finding the best ways to buy and sell Bitcoins using a special effective application.