Ordinals: A New Innovation Powering Bitcoin NFTs and Maybe More
In this article, we’ll explore the launch of the Ordinals protocol, how Ordinals work, how they differ from traditional NFTs, and statistics about Ordinals transactions.
Bitcoin Inscriptions & Ordinals
In this report, we detail the history of NFTs on Bitcoin, examine the foundations and current landscape of inscriptions and ordinals, explore the opportunities and challenges that inscriptions and ordinals present, and argue that not only do they create significant growth potential for the bitcoin ecosystem, they can improve the fidelity and security of the overall Bitcoin network.
NFT Ordinals Fuel Explosive Growth in Bitcoin’s Taproot Usage, Reaching a New All-Time High
The emergence of NFT Ordinals has caused blocks to increase in size and commission payments to miners to rise, as Bitcoin’s Taproot usage skyrockets by 800%.
Ordinal NFTs Are Disrupting Bitcoin Network
Ordinals, an NFT-like project on the Bitcoin blockchain, has gained momentum over the past month, signalling an opportunity for the biggest cryptocurrency. But its accessibility and security still needs to be improved.
The Emergence of Ordinals
The digital asset market has experienced its first significant pullback of the year, alongside news of heavy US regulatory moves, and SEC crackdowns. Simultaneously, the emergence of Ordinals and Inscriptions on Bitcoin is creating a new, and unexpected demand for blockspace.
State of the Crypto Market (February 2023)
Let’s talk about the state of the crypto market as of February 2023, and the most important things happening.
