Ordinal: Inscribing data onto Bitcoin “sats”
Ordinal Through a numbering and inscription mechanism, the protocol enables Bitcoin’s smallest unit, the “sat,” to be tracked, transferred, and carry on-chain digital content, thereby creating NFT-like NFT entities.
Ordinal What is
Ordinal The protocol was launched in 2023 year January, establishing a numbering scheme for Bitcoin’s smallest unit, the satoshi, enabling each satoshi to be tracked and transferred. Users can also inscribe data such as images and video games onto satoshis; each piece of inscribed content is called an inscription. “Ordinal” also commonly refers to the resulting type of NFT asset.
Technical Background and Development
Shortly after the launch of the Ordinal protocol, the number of inscriptions increased rapidly in 2023. Evidence indicates that the SegWit upgrade in February and the Taproot upgrade in 2017 provided the relevant technical conditions that made it possible to inscribe data onto satoshis. However, the materials do not further explain the specific role played by each upgrade. 2021 Taproot upgrade provided the relevant technical conditions, making it possible to inscribe data onto satoshis. However, the materials do not further explain the specific role played by each of the upgrades.
Differences Between NFT and Traditional
Ordinal Ordinal and traditional NFT are both built on blockchains and can both represent digital items, but their data-storage methods differ. Traditional NFT are typically minted on Ethereum or BNB Chain and other smart-contract-enabled networks, and may reference dynamic off-chain metadata; the data of Ordinal is inscribed directly onto the Bitcoin blockchain.
Original Tutorial
https://www.binance.com/zh-CN/academy/glossary/ordinals
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