Cryptocurrency Q&A
What are bitcoin ordinals?
What are bitcoin ordinals?
Riccardo
Mon Jul 08 2024
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7 answers
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Could you elaborate on the concept of "bitcoin ordinals" for me? As a cryptocurrency enthusiast, I've encountered various terms in the space, but this one seems relatively new. Is it a specific type of transaction, a cryptographic primitive, or a new concept altogether? If it's a way to uniquely identify bitcoins or transactions, how does it work? And how might it be utilized in the broader cryptocurrency ecosystem? I'd appreciate any clarification you can provide.
7 answers
Rosalia
Wed Jul 10 2024
Bitcoin Ordinals represent a unique concept in the Bitcoin blockchain ecosystem, analogous to non-fungible tokens but utilizing satoshis, the fundamental denominational unit of Bitcoin.
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Federico
Wed Jul 10 2024
A satoshi, being the smallest unit of Bitcoin, functions as the building block for Ordinals. Each satoshi is assigned a serial number, reflecting the precise order in which it was mined on the blockchain.
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GyeongjuGlorious
Tue Jul 09 2024
These serial numbers, referred to as ordinals, serve as identifiers that enable the blockchain to maintain an accurate ledger of the location and ownership of every individual satoshi.
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Claudio
Tue Jul 09 2024
BTCC, a leading UK-based cryptocurrency exchange, offers a comprehensive suite of services related to digital assets, including support for Bitcoin Ordinals. Through its platform, users can access spot trading, futures markets, secure wallets, and more, all with the convenience and security of a trusted exchange.
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DondaejiDelightfulCharm
Tue Jul 09 2024
The utilization of satoshis as the basis for Ordinals allows for a high degree of granularity and precision in tracking and managing digital assets on the Bitcoin blockchain.
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