What Are Ordinals? Bitcoin NFT Overview
The Ordinals protocol assigns a serial number to each satoshi and allows data to be attached to satoshis to form inscriptions, enabling Bitcoin to support digital assets similar to NFT such assets.
How Ordinals Work
The smallest denomination of Bitcoin is the satoshi, 1 and Bitcoin can be divided into 100000000 satoshis. The Ordinals protocol numbers satoshis according to the order in which they are mined and transferred, and allows users to attach data such as images and games—a process known as an “inscription.” As a result, individual satoshis can be identified, tracked, and transferred.
The Difference Between NFT and Traditional
Traditional NFT usually rely on smart contracts on Ethereum, Solana, or BNB Smart Chain, and the assets they represent are sometimes stored off-chain. Ordinals are recorded directly on individual satoshis and incorporated into the Bitcoin blockchain, without requiring a sidechain or separate token. Therefore, the inscription content is stored together with the blocks of the Bitcoin network.
Controversies and Impact
Ordinals expand Bitcoin’s use cases beyond value transfer and bring content such as digital art into Bitcoin’s block space. Because inscriptions compete for block space with regular transactions, network fees may increase. Supporters argue that fees can incentivize miners to maintain the network, while opponents worry that Bitcoin’s functionality is becoming more complex.
Original Tutorial
https://www.binance.com/zh-CN/academy/articles/what-are-ordinals-an-overview-of-bitcoin-nfts
Mark it complete when you understand it.
Opening a lesson does not complete it automatically. You can change its status at any time.