ORDI (ORDI)

What is Ordi Token?

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.

How does Ordi Token work?

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.

How does the BRC-20 Token Standard on Bitcoin blockchain work?

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.

What is the relation between Ordi Token and Ordinals Protocol?

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.

Who created Ordinals (ORDI)?

In 2023, the Ordi token was introduced by its founder, known as Domodata.