🟠What's BRC20?

What are Bitcoin Ordinals?

Bitcoin Ordinals are like unique digital stickers or tags that can be attached to pieces of Bitcoin. They can hold data like text or an image, which gives them their own unique value. Just think about it like an artist drawing a piece of art on a dollar bill - the bill is worth a dollar, but the art on it can be priceless.

Who made Bitcoin Ordinals?

Casey Rodarmor started something called the Ordinals Protocol in 2023. This new system made it easier for Bitcoin users to create these unique digital stickers and attach them to Bitcoin.

Why are Bitcoin Ordinals important?

These Ordinals make each piece of Bitcoin unique, and therefore valuable. This new system relies on some upgrades made to the Bitcoin network in 2021 called Taproot. These upgrades made Bitcoin safer, more private, and easier to use.

How are Bitcoin Ordinals different from NFTs?

While Bitcoin Ordinals might sound a lot like NFTs (Non-Fungible Tokens), there are a few key differences. Bitcoin Ordinals are not tokens, they are pieces of Bitcoin with information attached to them. They do not use smart contracts (basically programs on the blockchain), and they store all their data on the blockchain.

Are Bitcoin Ordinals safe?

Interacting with Bitcoin Ordinals can be tricky. The tools used to manage them are still new and not very user-friendly. The safest way to keep your crypto safe is to keep your keys offline and understand transactions before you sign them. Ledger Devices, for example, offer a high level of security for your digital assets.