An article to understand Bitcoin ordinals and BRC20: Information, Status, and Risks
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Editor: Wu Blockchain Biteye: An Overview of Ordinals Technology, Ecosystem, and Data in One Article Read the full article:https://mp.weixin.qq.com/s/gNxjVMjsDNb5qIF4kTQ5Ew The total supply of Bitcoin is 21 million, with the smallest indivisible unit being sat (Satoshi), where 1 BTC = 100 million satoshis. Rodarmor proposed the Ordinals theory, which assigns a unique ID to each satoshi based on the order it was mined, starting from 0. For example, the first satoshi in the first block has an ordinal number of 0, the second satoshi has an ordinal number of 1, and the last satoshi has an ordinal number of 4999999999. This gives each satoshi an ID attribute, enabling Bitcoin to have native NFT creation capabilities. These unique satoshis can be “inscribe” with any content, such as text, images, videos, etc., to create “inscriptions.” Inscriptions are the metadata concept in Bitcoin NFTs, stored on-chain in taproot scripts.
An article to understand Bitcoin ordinals and BRC20: Information, Status, and Risks
An article to understand Bitcoin ordinals and…
An article to understand Bitcoin ordinals and BRC20: Information, Status, and Risks
Editor: Wu Blockchain Biteye: An Overview of Ordinals Technology, Ecosystem, and Data in One Article Read the full article:https://mp.weixin.qq.com/s/gNxjVMjsDNb5qIF4kTQ5Ew The total supply of Bitcoin is 21 million, with the smallest indivisible unit being sat (Satoshi), where 1 BTC = 100 million satoshis. Rodarmor proposed the Ordinals theory, which assigns a unique ID to each satoshi based on the order it was mined, starting from 0. For example, the first satoshi in the first block has an ordinal number of 0, the second satoshi has an ordinal number of 1, and the last satoshi has an ordinal number of 4999999999. This gives each satoshi an ID attribute, enabling Bitcoin to have native NFT creation capabilities. These unique satoshis can be “inscribe” with any content, such as text, images, videos, etc., to create “inscriptions.” Inscriptions are the metadata concept in Bitcoin NFTs, stored on-chain in taproot scripts.