In simple terms, ordinals are non-fungible tokens (NFTs) that are created and stored on the bitcoin network. It has become so popular because BTC never had a system for creating NFTs before Ordinals came along. From the beginning, bitcoin has had a straightforward architecture that doesn’t support much scalability. The network can create completely new BTC without any change.
But things are changing now as the demand for NFTs and other crypto variants is skyrocketing. Ordinals became a possibility due to two major updates to the bitcoin network. The first was SegWit (Segregated Witness), and the second was Taproot, which went live in 2017 and 2021, respectively. SegWit split the bitcoin structure in two and increased its storage capacity.
Taproot, on the other hand, improved its security, coinbase and block size. Although these updates were not intended to introduce Ordinals, they made it possible on a larger scale. Ordinals was launched in 2023 as an alternative to generating NFTs. Creators can use it to create integrated tokens with images, videos, text and audio. It didn’t take long for the crypto community to realize the enormous potential of this system.
As a result, the Ordinals gained popularity in no time. Today, NFT creators and users are using this network for various projects.
Here are some of the major ones that became very popular in dedicated markets.
The popular NFT on Ordinals that took the market by storm
Featuring high quantity and exclusivity, these collections are grabbing the attention of the entire community.
bitcoin punk
As the name suggests, it is a great collection of images depicting various avatars of men and women. Being the first NFT on bitcoin, it gained huge popularity among the users.
Currently, there are over 10,000 punks in the collection.
Taproot Wizards
Udi Wertheimer, an independent Web3 developer, conceived and created these tokens. Each of the inscriptions in this collection is hand-drawn by Udi himself. This collection is dedicated to creating a magical world with art.
twelve times
Yuga Labs, the name of the hugely popular NFT, Bored Ape Yacht Club, has created this collection. Even with a limited supply of 300 inscriptions, they have done a fantastic job creating unreal 3D features.
bitcoin rocks
Its creators were inspired by Ether Rocks and developed these tokens. This includes a range of exclusive digital rocks with a limited supply of 100. Soon after its launch, it gained popularity and high ratings.
ordinals punk
The creator created these tokens to pay tribute to cryptopunks. With only 100 inscribed, this is one of the most sought after collectibles on the NFT markets. In addition, it is also developed by a Web3 developer called FlowStay.
conclusion
Ordinals are not just an option for NFT users to create their own NFTs. It has put forward many new possibilities in the crypto sector. With so many features and high functionality, it has become a favorite of many non-fungible token users. It is fueling the creativity and foresight of modern creators. Tantra supports their ventures in many ways.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to become their own banks and break away from traditional monetary exchange systems. She is also interested in blockchain technology and its functioning.
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Source: www.thecoinrepublic.com
