Bitcoin Ordinals Explained: Everything You Need To Know – NFTevening.com

Memecoins Suffer Major Losses as Market Faces Risk Aversion
Bitcoin Drops Below $97K Amid Strong Economic Data
Canada’s Political Shift: Trudeau’s Departure and the Rise of Pro-Crypto Leaders
BTFD Coin’s 90% APY Staking Rewards and PENGU’s Growth in Focus
NFT/Tokens Gainers of the Week (30 Dec – 5 Jan)
Pepe Deep Dive
NFT/Tokens Gainers of the Week (23 Dec – 29 Dec)
Fartcoin Deep Dive
Crypto Taxes: Everything You Need To Know
8 Best Altcoin Exchanges and Trading Platforms in 2025
Coinbase Referral Code 2025: Get $10 BTC Bonus
What Is DeSci? The Ultimate Guide to Decentralized Science
Best Bitcoin ETFs to Buy Right Now
What Are Pudgy Penguins (PENGU)? The Ultimate Collector’s Guide
Crypto.com vs Coinbase: Choosing the Right Exchange for You
10 Safest Crypto Exchanges to Use for Secure Trading in 2025
What is KYC in Crypto and Why Do Crypto Exchanges Need KYC?
What Is Dollar-Cost Averaging? Definition, Benefits, & Examples
What is an NFT Drop? Your Simple Guide to Participation
NFT Dapps: A Comprehensive Guide for Creators and Collectors
What are PFP NFTs? Why are Profile Picture Tokens so Hyped?
What Is Trust Wallet? A Comprehensive Guide to Its Features and Safety
How to Use Phantom Wallet in 2025?
Custodial vs Non-Custodial Wallet: Choosing the Right Option
Phantom Wallet Review 2025: Is it Safe & Worth it?
What is DeFi (Decentralized finance) and How Does it Work?
What is DeFi NFT: The Ultimate Guide
How to Create A DAO: The Ultimate Guide
By NFTevening
Key Takeaways
Bitcoin Ordinals are a system for inscribing data directly onto individual satoshi. Each Satoshi, the smallest unit of Bitcoin, is given a serial number to make it unique for Bitcoin Ordinals.
The Ordinals protocol makes it possible to create unique and scarce digital assets, similar to Non Fungible Tokens NFTs.
The difference between Bitcoin Ordinals and NFTs includes underlying blockchain, token standard, application, and community.
Top Bitcoin Ordinals projects such as Ordinal Punks, OnChainMonkey, and Tapoot Wizards.
Bitcoin Ordinals Explained simply, it introduces a unique feature to the Bitcoin network, allowing each satoshi, the smallest Bitcoin unit, to be uniquely identified. This is achieved by attaching data, such as images or text, to these units, transforming them into individual digital collectibles or NFT-like artifacts.
While Bitcoin Ordinals add a new dimension to Bitcoin, enabling the creation of unique digital items and tokens, they also bring challenges of high transaction fees and network inefficiency. Despite these considerations, Ordinals represent a significant evolution in Bitcoin’s capabilities, offering novel opportunities in the realm of digital collectibles and cryptocurrency.
Bitcoin Ordinals are a recent addition to the Bitcoin network, functioning like unique serial numbers for Bitcoin units (sats). They allow for the attachment of various types of data, such as images or text, to these Bitcoin units. This capability forms the basis for creating Bitcoin artifacts, similar to digital collectibles, or NFTs on the Bitcoin blockchain.
This approach was not part of Bitcoin’s original design; it’s an added layer developed by software engineer Casey Rodarmor, operating on software distinct from Bitcoin’s core network​. Bitcoin ordinals use updates in Bitcoin’s system to make each satoshi (the smallest Bitcoin unit) unique.
Sources: ChainLink
Ordinals are means of creating Bitcoin NFTs by attaching data such as images, videos, and more to an individual satoshi based on the Bitcoin blockchain. Ordinal NFTs don’t exist separately from Bitcoin, unlike their predecessors.
They assign each Bitcoin satoshi a unique number by ordinal theory, an arbitrary but logical ordering method. Ordinal NFTs are Bitcoin-native. They work without changing the Bitcoin protocol, require no new layers, and are backward compatible.
Before, all satoshis were the same, but now, with these changes, each one can be identified separately. The Segregated Witness update made more space on Bitcoin’s blockchain, allowing for things like images and videos to be attached to each satoshi.
Source: ChainLink
Downloading Bitcoin Core is necessary for running a full node to inscribe new Bitcoin Ordinals and synchronizing with the Bitcoin blockchain, adding non-fungible qualities to bitcoin satoshis and providing users with a Bitcoin wallet.
This makes Bitcoin more than just money; it can now hold different types of data, making each satoshi special and unique. Through the application of ordinal theory, each Bitcoin satoshi is uniquely numbered and tracked, allowing them to be imbued with individual meanings and traded as distinct entities on the Bitcoin blockchain.
Bitcoin ordinals work by creating unique digital collectibles, known as “artifacts,” on the Bitcoin network. Similar to traditional collectibles like sports cards, these artifacts gain value from factors like their creation date and rarity. They use ordinals to assign a serial number to each item, and inscriptions to attach images or other data through a bitcoin transaction, enabling the creation of Bitcoin-based NFTs that embed data within standard Bitcoin transactions.
This process involves mining bitcoin ordinals, which is akin to traditional Bitcoin mining but focuses on the creation of these unique identifiers for digital collectibles.
Beyond collectibles, ordinals are also used for other purposes, such as data storage and domain names, with a notable application being the BRC-20 protocol, which enables the creation of crypto tokens and currencies using ordinals.
Each sat’s ID also has info about its life story in Bitcoin’s block history. This includes which Bitcoin “era” it’s from and its spot in its specific block.
In short, Ordinals bring a touch of uniqueness and flair to Bitcoin, turning regular sats into something fun and collectible, while BRC-20 introduces a neat way for Bitcoin users to make their own tokens.
Remember, cryptocurrency investments come with risks, so always do your research and be cautious of market volatility.
Bitcoin ordinal token
Ordinals (ORDI) is a new cryptocurrency token for the Bitcoin Ordinals protocol. It recently gained attention with a 50% price surge following its listing on Binance. Binance tagged ORDI as an emerging, high-risk project, leading to significant price volatility. The token’s value jumped from $7 to $11, accompanied by a substantial increase in trading volume.
ORDI is linked to the Ordinals protocol, which allows embedding data like digital art into Bitcoin transactions. This protocol gained traction with the BRC-20 token standard, leading to a wave of digital artwork and meme tokens on the Bitcoin network.
Here’s a quick step-by-step process to acquire ORDI:
To sell Bitcoin NFTs, specifically Ordinals, on Magic Eden, follow these steps:
Remember, the selling process on platforms like Magic Eden may involve additional steps or nuances, so it’s essential to familiarize yourself with their specific guidelines and features.
Difference between Bitcoin ordinal and NFTs
While Bitcoin artifacts and traditional NFTs (Non-Fungible Token) share similarities in their collectible nature, significant differences exist. NFTs and Bitcoin Ordinals are unique digital assets.
The representation of digital art and collectibles by using Bitcoin Ordinals and NFTs increases their worth and collectibility. Both Bitcoin Ordinals and NFTs may contain data and are often exchanged in specialized marketplaces. However, NFTs have more complex programmability.
Their popularity among the cryptocurrency community cannot be emphasized. They have a big impact on market trends and take use of the high security and authenticity offered by blockchain technology. This has resulted in a high level of involvement and impact among the cryptocurrency community.
Bitcoin ordinals leverage the time-tested Bitcoin blockchain, while NFTs are mostly hosted on platforms such as Ethereum. This difference in blockchain selections leads to variation in scalability, security, and the overall ecosystem.
Here’s more on how Bitcoin Ordinals differ from NFTs:
Here is quick comparison about Bitcoin Ordinals and NFTs
Ordinal Punks Collection
The Ordinal Punks collection has carved out a distinct niche, inspired by the legendary CryptoPunks, these 100 algorithmically created figures provide a fresh twist to the Bitcoin blockchain. Their early arrival, ranking among the first 650 inscriptions, imbues them with potential historical significance.
Each Ordinal Punk has unique traits, assuring both rarity and broad appeal to NFT enthusiasts. Unlike NFT marketplace, Ordinal Punks promotes a personal touch through direct community trade, which is mostly facilitated by the project’s Discord channel.
The value of collection is based-on 3 factors: rarity (there are only 100 Oridnal Punks in existence), distinctive qualities that define each Punk, and their pioneering role in the Bitcoin Ordinals ecosystem.
OnChainMonkey Collection
OnChainMonkey (OCM) is a collection of 10.000 unique monkey avatars that pushes the bounds of NFT technology. Each has distinctive traits and accessories, making them highly collectible. Originally residing on the Ethereum blockchain, OCM made a bold step in September 2023, transferring to Bitcoin with a focus on decentralization and security, capitalizing on Bitcoin’s untapped potential.
The shift to Bitcoin Ordinals ensures that each OnChainMonkey NFT has a direct, verifiable relationship to the original Ethereum NFT. OCM holders who want to take part in the migration can claim their Bitcoin-based Ordinal. The inscription process promotes effciency by reducing block space utilization for environment consciousness.
Taproot Wizards Collection
Taproot Wizards is launched in 2023 and a collection of 2,121 unit characters inspired by the popular meme “Magic internet money”—a p playful nod to Bitcoin’s early day.
The Taproot Wizards project was created by developers Udi Wertheimer, Eric Wall, and OxFAR, who have become vocal critics of a perceived overly-conservative culture that permeates some parts of the Bitcoin community.
Taproot Wizards offers more than simply artwork; they also have a gamified orientation program they term “Wizard School”. As they gain their enchanted NFT wizards, users can explore the wonders of Bitcoin’s Lightning Network and become more involved in the ecosystem.
This innovative project is also a nod to the Taproot upgrade that Bitcoin received, which allowed the network to support smart contracts.
Think of a Bitcoin ordinal like a unique collectible coin. Ordinarily, a single satoshi (1/100,000,000th of a Bitcoin) is just a tiny, standard part of a Bitcoin, much like a penny is to a dollar. But with the Ordinal Protocol, each satoshi can be “dressed up” with something special, like an image, a piece of text, or even a video. This is akin to turning a regular penny into a collector’s item by adding a unique design.
The value of these customized satoshi, or Bitcoin ordinals, isn’t fixed. It depends on how appealing or rare the inscription is. Just like some collector coins are more sought after than others, some ordinals can be worth more based on what’s inscribed on them. It’s this blend of the tiny monetary value of a satoshi and the potentially high value of its unique inscription that makes Bitcoin ordinals an intriguing concept in the world of digital collectibles and cryptocurrencies.
The point of Ordinals is to expand Bitcoin’s functionality beyond mere financial transactions. By enabling unique inscriptions on individual satoshis (the smallest Bitcoin units), Ordinals create a new form of digital collectibles, akin to NFTs, on the Bitcoin blockchain. This innovation appeals to those valuing Bitcoin’s security and longevity, transforming it into a platform not just for currency, but for unique digital artifacts, potentially widening Bitcoin’s appeal.
However, this comes with trade-offs. Critics argue that Ordinals can increase transaction fees and slow down the network, as they use up significant block space. They also raise concerns about environmental impact due to Bitcoin’s high energy consumption. Many Bitcoin developers have voiced concerns about the detrimental effects of ordinals on network fees and congestion, leading to a debate within the crypto community.
Despite these concerns, there is growing support for Bitcoin ordinals, with a burgeoning ecosystem of marketplaces and tools that facilitate the trading and management of Bitcoin Ordinals, indicating a cautious yet optimistic embrace of this new technology within the NFT market.
While the excitement around Ordinals suggests potential for diversifying Bitcoin’s use cases, it’s crucial to weigh these benefits against the potential downsides of network efficiency and environmental impact.
As Bitcoin Ordinals emerge as a revolutionary move in the NFT space, its impact on the digital asset landscape cannot be underestimated. Leveraging their own technology & recent updates of the Bitcoin blockchain, Ordinals introduce a new standard of security and decentralization. They offer a versatile platform for tokenizing a diverse range of assets, from digital artworks to physical properties.
The surge in interest and adoption following the mainnet launch underscores their growing significance. While Bitcoin Ordinals present some advantages over traditional NFTs, enhanced security, it still engages challenges such as higher fees and limited functionality. Nonetheless, their rise heralds a new era of innovation and possibility in the NFT ecosystem.
Bitcoin Ordinals were created by software engineer Casey Rodarmor. He developed the protocol to enable the inscription of unique data, such as images or text, onto individual satoshis, the smallest units of Bitcoin, effectively transforming them into distinct digital artifacts or NFTs on the Bitcoin blockchain.
Bitcoin ordinals are minted in the same way as NFTs, they are special types of transactions that use the Bitcoin blockchain.
How to Mint Bitcoin Ordinals
The Ordinals Wallet is a specialized, non-custodial wallet and marketplace designed for Bitcoin users. Key features include:
While Ordinals Wallet is a strong choice for Bitcoin-centric users, those seeking a broader range of cryptocurrencies or staking options might prefer wallets like Atomic Wallet. The right choice depends on individual preferences and investment focus.
The highest sale price for a Bitcoin ordinal so far is an Ordinal Punk NFT, selling for 9.5 BTC or around $214,000 to $215,000. This demonstrates the considerable worth attached to such unique digital items on the Bitcoin blockchain.
Other notable sales include the ‘TwelveFold’ collection by Yuga Labs. This inscription, Inscription 364 fetched 3.08 BTC/43.59 ETH, approximately $67,000, in January 2023. Additionally, the Ordinal Punks collection is in high demand. Ordinal Punk 78 had an asking price of 50 BTC/692.66 ETH, about $1,132,500, reflecting the significant market interest in rare Bitcoin NFTs.
Ordinals differ from traditional NFTs in numerous way, such as they are completely on-chain, their transaction fees have been recorded in the history of Bitcoin. They don’t have any of the features that others NFTs on other blockchains often have, including smart contracts and royalties.
Ordinal Theory is a logical ordering scheme that suggests assigning unique “ordinal” numbers to each satoshi depending on the sequence in which they were created on the blockchain. Because of this, every single Satoshi has its own unique identity.
The main idea is that users can “inscribe” any kind of data, such as images, videos, etc., onto individual satoshis by assigning those satoshis’ ordinal numbers. On the Bitcoin blockchain, this inscribed data essentially becomes a unique digital artifact, or NFT.
Unlike the other blockchain networks (such as Ethereum), which have been built to support smart contracts and other functionalities, The Bitcoin community has been primary focused on enhacing support for the Bitcoin protocol itself.
The outcome has led to a more measured and gradual pace of development, with a lack of initiatives to create applications utilizing the network.

Disclaimer
NFTevening is an award-nominated media outlet that covers NFTs and the cryptocurrency industry. Opinions expressed on NFTevening are not investment advice. Before making any high-risk investments in cryptocurrency or digital assets, investors should conduct thorough research. Please be aware that any transfers and transactions are done at your own risk, and any losses incurred are entirely your responsibility. NFTevening does not endorse the purchase or sale of any cryptocurrencies or digital assets and is not an investment advisor. Additionally, please note that NFTevening participates in affiliate marketing.
Cryptocurrency
Cryptocurrency
Guides
Analysis
Learn
Exchanges
Analysis
Exchanges
Learn
Cryptocurrency
Exchanges
Guides
Please be aware that our Privacy Policy, Terms of Use, and Disclaimers & Ethics notice have been updated.
NFTevening is a renowned and award-nominated media platform dedicated to reporting on the cryptocurrency industry. Its journalists adhere to a rigorous set of editorial standards, guided by principles designed to uphold integrity, ensure editorial independence, and maintain unbiased reporting across all its publications.
The latest news, articles, and resources, sent to your inbox weekly.

source

Leave a Comment

Your email address will not be published. Required fields are marked *