WIZARD OF ORD: ORDINALS CODEX📚


THE HISTORY OF ORDINALS

The Bitcoin Blockchain has gained massive widespread adoption and this is because of; Ordinals or The ordinal theory.

In December 2022, Casey Rodarmor created the the ordinal theory almost a year after the Bitcoin Taproot Upgrade in December 2021. The Taproot Upgrade provided more privacy and usability to Bitcoin and Casey leveraged on this and ushered in the ability to add arbitrary information to Bitcoin. Ordinals didn’t get traction until March 2023 when Brc 20 launched (A fungible token standard on Bitcoin).

WHAT THEN IS THE ORDINAL THEORY ABOUT?

Simply put; Ordinals are Bitcoin Nfts but what makes them so unique is that they are directly inscribed onchain. Unlike Ethereum Nfts that operates with IPFS (Interplanetary file system), Ordinals are directly uploaded to the Bitcoin base layer and this is possible through inscription.
Better defined as ; Digital Artifacts on Bitcoin.

WHAT IS AN INSCRIPTION?

An inscription is the process of uploading data directly onchain into a satoshi.

WHAT IS A SATOSHI?

A Satoshi is the smallest monetary unit of Bitcoin; think of it like a Cents to a Dollar.
  1Bitcoin=100,000,000 Sats (abbreviation of Satoshi).

Ordinals are serial numbers for satoshis; Every single satoshi has a serial number.

Ordinals are embedded within the Satoshis and once we have this data unto a satoshi, the satoshi is now unique.

Ordinals are making Bitcoin more Useable and I hope this helps you gain an understanding of the Ordinal Theory.
