Ordinals a project that emerged in January 2023 has taken the world of non fungible tokens (NFTs) on the Bitcoin blockchain by storm . Unlike previous attempts Ordinals lets you place images and other cool stuff directly on the Bitcoin blockchain without any extra tokens or fancy sidechains . By using Segregate Witness (SegWit) and Taproot Ordinals found a way to use “satoshi numbering” to record data in Bitcoin transactions . Thanks to these nifty technical tricks Ordinals has become a hit with around 10 million “inscriptions” made since it launched .
BRC 20 Tokens: Exploring Bitcoin’s Fungible Side
In March 2023 someone mysterious named domo came up with the BRC 20 standard for fungible tokens on the Bitcoin blockchain . It’s kind of like the ERC 20 tokens you see on Ethereum but without all the complicated smart contract stuff . Instead BRC 20 tokens are created by adding special JSON text files to the blockchain . These tokens offer the same level of security and decentralization as Bitcoin itself . One of the first BRC 20 tokens called ORDI has gained popularity and is now trading on exchanges like OKX , Gate.io and Huobi .
Cool Things You Can Do with Ordinals and BRC 20 Tokens
Ordinals and BRC 20 tokens have opened up a whole new world of possibilities on the Bitcoin blockchain . You can trade BRC 20 tokens just like any other cryptocurrency and they could become an important part of the growing Bitcoin based decentralized finance (DeFi) ecosystem . Picture this : you could use these tokens on decentralized exchanges , lend them out or even try your hand at income farming . And hey wouldn’t it be awesome if we could connect BRC 20 tokens with other blockchains using cross chain bridges? That would make things even more exciting plus BRC 20 tokens could be used to create digital versions of real world assets like virtual USDT equivalents .
How to Get in on the Action: Buying Ordinals and BRC 20 Tokens
If you’re itching to get your hands on some Ordinals “inscriptions” or BRC 20 tokens you’ve got a few options . You can head to centralized exchanges like Binance and OKX which were quick to support these assets . NFT marketplaces like Magic Eden and DIBA are also great places to check out . And don’t forget about platforms like ordinalswallet .com where you can trade BRC 20 tokens and “inscriptions .” Just create a wallet remember to save your secret phrase and connect it to Ordinals Wallet . Easy peasy there are even some other cool services like Xverse and Hiro that let you create “inscriptions” without running a full Bitcoin node . Plus you can explore awesome collections like Ordinal Punks , Ordinal Birds , Planetary Ordinals , TwelveFold and Bitcoin Frogs on CryptoSlam .
Conclusion
The Bitcoin NFT segment is booming thanks to Ordinals and BRC 20 tokens . With Ordinals you can place all sorts of cool stuff directly on the Bitcoin blockchain and it has already gained massive popularity with millions of “inscriptions” created . BRC 20 tokens on the other hand offer fungibility and versatility with the ORDI token leading the pack . As the Bitcoin based DeFi ecosystem continues to grow these tokens can be used in decentralized exchanges , lending platforms and more . So if you want to join the fun , check out exchanges , NFT marketplaces and specialized platforms to get your hands on Ordinals and BRC 20 tokens . It’s time to dive into the exciting world of Bitcoin NFTs .
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