Ordinals & Inscriptions: Technical and Economic Implications on Bitcoin’s Blockspace
Introduction In early 2023, Bitcoin saw a surprising trend: Ordinals and inscriptions. Suddenly, users were inscribing images, text, and even NFTs directly onto individual satoshis (the smallest unit of Bitcoin). This phenomenon sparked excitement, controversy, and heated debates within the Bitcoin community. On one hand, Ordinals represent innovation—bringing NFT-like functionality to Bitcoin. On the other, […]
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