Ordinal protocol allows users to inscribe data (like images, videos, etc.) on the Bitcoin blockchain. In simple terms, NFTs on the Bitcoin blockchain instead of Ethereum.

Why are Ordinals making so much noise? Many are pointing out that this is the first time in Bitcoin’s history that it’s being used for something else other than the classical peer-to-peer monetary transfers.

Before Ordinal, the Bitcoin blockchain was a ledger of all the transactions on the network. It was just a bunch of letters and numbers, that’s it. (i.e wallet x98348 sent 2 BTC to wallet x238974)

After Ordinal, the Bitcoin blockchain is now a mix of transactions and “digital artifacts”. Not only does it still have the record of every single transaction, but the blockchain also contains images, videos, files, etc that have been inscribed onto it. 

Ordinals are a kind of numbering scheme put in place to track as well as transfer individual satoshis. Satoshis are the smallest units of a Bitcoin, named after the creator of Bitcoin, Satoshi Nakamoto. One Bitcoin is equal to 100 million satoshis. They are used to express smaller amounts of a Bitcoin and can be used to pay for goods and services.

With the Ordinals project, the team under the leadership of an ex-Bitcoin Core contributor Casey Rodarmor have made it possible to enable Bitcoin-native on-chain NFTs.

Ord is a wallet and explorer that provides the ability to track the location and ordinal number of specific satoshis. It also enables the creation and transfer of inscriptions, which are individual satoshis with added content such as images, videos, and HTML.

The Ordinals protocol assigns an ordinal number to each satoshi. With the introduction of Ordand inscriptions, Bitcoin now has the capability to host NFTs (non-fungible tokens), as content can be included and linked to a specific satoshi in a Bitcoin transaction.

This has huge ramifications for exchanging assets like digital twins or VR artefacts in connected ecosystems in the Metaverse on gaming or similar VR platforms

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