Bitcoin Ordinals are Here
- Babak S.
- Feb 23, 2023
- 1 min read
Sometimes the most genius ideas are the simplest of all. Ordinals associate each satoshi with numismatic value, giving them significance and rarity. Inscriptions " Inscribe individual satoshi with arbitrary content, creating unique Bitcoin-native digital artifacts that can be held in Bitcoin wallets and transferred using Bitcoin transactions. Inscriptions are as durable, immutable, secure, and decentralized as Bitcoin itself."
There was a huge rush to mint the first 100,000 inscriptions with digital artifacts and claim ownership of some of these most collectable items. At the time of writing this article there are 167127 inscriptions created and this is just the beginning.
It's exciting to see new use cases for Bitcoin, but ordinals have been polarizing the Bitcoin community over the appropriateness of the block usage for this use case. Time would tell if this is a good use case, and certainly when more interesting use cases pop up, Ordinals can take a back seat but until then they're increasing demand for block space and as miners we have to consider this as a plus, specially in the current bear market.
If you're interested to create your own inscription, or would like to visit our very own inscription, check out this link.
