What Are Bitcoin Ordinals About?

What are Ordinals?

Ordinals are a new concept in the Bitcoin world that involves building on top of the Bitcoin blockchain. Originally designed as a cryptocurrency, Bitcoin has failed to meet expectations as a means of payment.

This is quite unlike smart contract platforms such as Ethereum, which have become popular among developers who are now able to build on the technology.

Bitcoin Ordinals are new ways of building things atop the bitcoin blockchain. For now, this primarily means NFTs, but don’t hold that against them. NFTs are only the tip of the iceberg in terms of what Ordinal can do.

While Ordinals currently focus on NFTs, their potential extends far beyond this. As this is just a start, there is no limit to what the future of Ordinal could hold.

This, however, causes some controversy among sticklers who believe Bitcoin should only be used as a currency and others who seek means to propel the next surge of bitcoin’s advancement.

However, many investors are excited about the possibilities Ordinals could bring to Bitcoin’s growth and the wider crypto ecosystem. Recent growth in Bitcoin’s price may also be attributed to the growing excitement surrounding Ordinals.

Investor Takeaway:

According to Michael Casey from CoinDesk, Ordinals could have a significant impact on the entire crypto industry. Further clarity on the future of Ordinal will be seen as developers and Bitcoin enthusiasts take good advantage of this new technology.

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