Ordinals: A New Innovation Powering Bitcoin NFTs and Maybe More

March 07, 2023

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. Ordinals’ originsDevelopers have been working on enhancements to the Bitcoin network for nearly a decade, focusing on additional exchange features and financial instruments. In order to mint using Ordinals, Bitcoin participants must download Bitcoin Core and sync it to the nodes of the blockchain. The future of OrdinalsThe Ordinals protocol has already opened doors to a substantial, untapped market in the form of Bitcoin NFTs. Any Bitcoin is meant to be interchangeable with any other Bitcoin – Ordinals ascribing enhanced or decreased value to individual units of Bitcoin could mean that prices no longer reflect that fungibility.