What are Bitcoin Ordinals? Bitcoin Ordinals explained
Bitcoin Ordinals are Bitcoin’s answer to NFTs, allowing a way of inscribing data onto a specific satoshi (one-millionth of a bitcoin) in a way that makes that satoshi distinct from others or non-fungible.
So why is this important?
Originally, Bitcoin was launched as a fungible form of digital cash. Like a US dollar, one is much the same as the other as far as the people transacting are concerned. However, Bitcoin Ordinals allow users to identify satoshis from one another.
For example, a collector might be interested in owning a satoshi from a crucial moment in Bitcoin’s history, like the Bitcoin halving that takes place every four years, and thus be willing to spend more than the market value of one satoshi to buy it.