• Ordinals, a protocol to allow the minting of NFTs on the Bitcoin blockchain, is soon to launch.
• Ordinals have a specific implementation known as Ord. This allows users to track the precise location of certain satoshis and ordinal numbers that have been assigned by the Ordinal protocol.
• There has been a debate on the matter which has brought about mixed signals, with some claiming that the launch of Ordinals takes away from the original idea and goal of Bitcoin’s creation.
Ordinals, the protocol that allows the minting of NFTs on the Bitcoin blockchain, is soon to launch. This groundbreaking project has received a lot of attention from the crypto community, as it brings a new way for Bitcoin holders to use the blockchain.
At the heart of the Ordinals protocol is its specific implementation known as Ord. Ord allows users to track the precise location of certain satoshis and ordinal numbers that have been assigned by the Ordinal protocol. This allows for a variety of content to be inscribed into the Bitcoin blockchain, such as videos, images, and more. These artifacts are referred to as being of „higher standards“ due to the fact that they can’t be stored off-chain and on centralized servers with back-door keys.
However, the launch of Ordinals has received mixed signals from the Bitcoin community. Some view this as a step forward, while others are not so sure. In particular, many have expressed their dissatisfaction with the idea, claiming that it takes away from the original idea and goal of Bitcoin’s creation. Casey Rodarmor, a former Bitcoin Core contributor and the creator of Ordinals, believes that the creation of Bitcoin goes beyond its creator’s intentions. He believes that the technology should be used for more than just digital gold.
No matter what side of the debate you may be on, the launch of Ordinals is sure to bring about a new wave of innovation in the Bitcoin space. With NFTs becoming increasingly popular, this could be a major step forward for the blockchain. We will have to wait and see how the project develops and how it is received by the public.