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ORDI
$8.3390
7.18%
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| ORDI | BRC20 | BTC | b61b0172d95e266c18aea0c624db987e971a5d6d4ebc2aaed85da4642d635735i0 | 2023-03-08 |
About ORDI
The Ordi Token is a digital asset on the Bitcoin blockchain, distinct in its approach as it does not rely on smart contracts. Operating using SATs (Satoshis), the smallest unit in Bitcoin, it can incorporate various data types, such as text or images. Unlike typical blockchain tokens, it functions under the BRC-20 Token Standard, ensuring compatibility within the Bitcoin ecosystem. Doo's brc2, a notable example in the field, recorded 30 million transactions, equating to 1,634 BTC in fees. Despite similarities in using SATs and the Bitcoin blockchain, the Ordi Token differs from the Ordinals Protocol. While Ordinals insert arbitrary data into SATs without smart contracts, the Ordi Token represents specific utilities or assets, adhering to the BRC-20 Standard. Launched in 2023 by its founder Domodata, the Ordi Token showcases a unique implementation within the Bitcoin blockchain.
The Ordi Token is a digital asset on the Bitcoin blockchain. It represents a unique implementation within the Bitcoin ecosystem, leveraging the blockchain's capabilities for specific functionalities.
The Ordi Token operates on the Bitcoin blockchain, utilizing its smallest unit of measurement, SATs (Satoshis). The token can incorporate different types of arbitrary data, such as text or images. This functionality is achieved without the need for smart contracts, which is a notable departure from typical blockchain token implementations.
The BRC-20 Token Standard is a framework used for creating tokens on the Bitcoin blockchain. It outlines specific rules and standards that these tokens must follow to ensure compatibility and functionality within the Bitcoin ecosystem. The video highlights the significant level of activity in this domain, exemplified by Doo's brc2, which has seen 30 million transactions, amounting to 1,634 BTC in fees.
The Ordi Token is not directly associated with the Ordinals Protocol. While both operate on the Bitcoin blockchain and involve the use of SATs, they serve different purposes and are based on distinct technological principles. The Ordinals Protocol allows for the insertion of arbitrary data into Bitcoin's SATs without using smart contracts, whereas the Ordi Token represents a specific asset or utility within the Bitcoin network, following the BRC-20 Token Standard.
In 2023, the Ordi token was introduced by its founder, known as Domodata.