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- 1 Ordinals Protocol is a numbering scheme for satoshis, permitting tracking and transferring individuals’ sats.
- 2 ORDI, the native token of Ordinal Protocol vitrine functionalities for assets on Bitcoin.
- 3 Simplified the online transactions, ORDI has a total supply of 21 Million ORDI with 100% of the circulating supply.
Blockchain technology and innovative projects are constantly evolving in the crypto universe, advancing financial investment tools along with contributions to technology. Introduction to Ordinals Protocol somehow revolutionized the field of cryptocurrency and made it easy for individuals to add information like audio, text, images, and videos to Satoshi.
Ordinals: History And Overview
ORDI is a meme coin on the Bitcoin network and works as the first BRC-20 token to be made using the Ordinals protocol.
The Ordinals protocol, created by software engineer Casey Rodarmor in January 2023, lets data like text, images, audio, and video be written directly to each satoshi or the smallest unit of the Bitcoin network. This new technology has allowed entirely new uses of non-fungible tokens and tokens to appear on Bitcoin.
A satoshi is the smallest unit of the Bitcoin currency, and there are over 2.1 quadrillion satoshis in total. With the Ordinals protocol, text, images, audio, and video can all be written directly to each satoshi as a permanent record.
The Relation Between ORDI Token and Ordinals Protocol
As users began experimenting with creating and trading NFTs and tokens directly on the Bitcoin network using Ordinals, interest in ORDI grew. In May 2023 centralized crypto exchanges started listing ORDI for trading.
However, The Ordi Token is not directly related to the Ordinals Protocol. While both work on the Bitcoin blockchain and involve the use of SATs, they have different purposes and are based on different technological principles.
The Ordinals Protocol allows for the addition of any 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.
ORDI Features
With time ORDI tokens began to gain popularity with their outstanding features and new capabilities. Here is why ORDI is unique.
NFT and Token Conversion: By giving the chance to convert text and visual data on the Bitcoin network into NFTs and tokens, it increases the variety of digital assets and enables the digital representation of different types.
A Unique Token: ORDI attracts potential investors and users with the unique protocol it has developed and has a unique place in the cryptocurrency world.
However, the token is new to the crypto world and possesses few of the challenges. High price changes due to the nature of the cryptocurrency market can pose risks to investors. Since it is a new and unique project, it may face challenges in providing liquidity and infrastructure support.
ORDI Tokenomics and Buying
ORDI follows the BRC-20 token standard and uses the Ordinals protocol, similar to how Bitcoin Ordinals can uniquely identify each satoshi. The token has a circulating supply of 21M tokens out of a total supply of 21M tokens.
The buying process can take as short as 10 minutes, and all a user requires is a smartphone or computer, photo identification, and a method of payment.
- Compare Crypto Exchanges: Binance, OKX, Bybit, Bitrue, and DigiFinex are some top cryptocurrency exchanges that offer the ability to buy ORDI Tokens.
- Create an account: Verify the account through email address and identity.
- Make a deposit: Debit Card, Credit Card, Wire Transfer, or Bitcoin are a few of the common payment modes.
- Buy Ordinals: Use funds to Buy ORDI.
Conclusion
ORDI is a cryptocurrency that works with inscriptions written on the Bitcoin blockchain. Thanks to the Ordinals protocol, data such as text, images, sound, and video can be written to the shortest unit of Bitcoin, satoshi. ORDI is the first BRC-20 token on the Bitcoin blockchain, and it has a total supply of 21 million coins. The token delivers users the chance to convert text and visual data on the Bitcoin network into NFTs and tokens, expanding the diversity and significance of digital assets.
FAQs
What is the difference between ORDI and the Ordinals Protocol?
ORDI is a cryptocurrency that represents a specific asset or utility within the Bitcoin network, following the BRC-20 token standard. Ordinals Protocol on the other hand is a numbering scheme for satoshis that allows for the insertion of any data into Bitcoin’s SATs without using smart contracts.
How to buy ORDI?
ORDI can be purchased on various centralized crypto exchanges, such as Binance, OKX, Bybit, Bitrue, and DigiFinex. individuals need to create an account, verify their identity, make a deposit, and use their funds to buy ORDI.
What are the benefits of ORDI?
The token offers users the opportunity to convert text and visual data on the Bitcoin network into NFTs and tokens, increasing the diversity and value of digital assets. The token also leverages the security and decentralization of the Bitcoin blockchain and uses the Ordinals protocol to write information to each satoshi.
What is the total supply of ORDI?
The total supply of the token is 21 Million and the circulating supply of 21 Million, showing 100% supply.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
