In the field of digital currency, Ordi coin is becoming more and more popular. However, you may not know much about this new digital currency. This article will introduce the definition, characteristics, uses and future development prospects of Ordi coin to help you better understand this emerging cryptocurrency.
Part 1: What is Ordi Coin?
Ordi Coin is a digital currency based on blockchain technology. It adopts a decentralized model and does not rely on any central agency or bank. The goal of Ordi Coin is to provide a secure, private and traceable way of transaction. Unlike traditional legal tender, the issuance and transaction of Ordi Coin is entirely carried out through the blockchain network, ensuring the transparency and security of transactions.
Part 2: Features of Ordi Coin
1. Decentralization: Ordi coin transactions are not controlled by any central authority, which means that no intermediary can interfere with or monitor transactions.
2. Security: Ordi coin uses advanced cryptography technology to ensure the security and anti-counterfeiting of transactions.
3. Anonymity: Ordi coin transaction records are stored on the blockchain, but there is no information related to personal identity. This makes it impossible to trace the user's transaction history back to their real identity.
4. Fast and low-cost transactions: Transactions using Ordi coins are often faster and more economical than traditional bank transfers.
Part 3: Uses of Ordi Coin
As a digital currency, Ordi coin can be used in various scenarios. Here are some common uses:
1. Shopping payment: More and more online merchants accept Ordi coins as a payment method, allowing users to purchase goods and services conveniently and quickly.
2. Cross-border transactions: Due to the decentralized nature of Ordi coin, it can be used for cross-border transactions, avoiding the cumbersome procedures and high fees of traditional banks.
3. Investment: Some people choose to invest their idle funds in Ordi coin, hoping to gain profit through its appreciation.
Part 4: Future development prospects of Ordi coin
As an emerging digital currency, Ordi coin has a very broad future development prospect. The following are some possible development trends:
1. Wider adoption: As the cryptocurrency market develops and people’s awareness of Ordi Coin increases, it is expected to be more widely adopted in the future.
2. Government regulation: As Ordicoin becomes more popular, governments may strengthen regulation of digital currencies to ensure financial stability and prevent illegal activities.
3. Technological innovation: With the continuous development of blockchain technology, Ordi Coin may adopt more advanced technologies to improve its security and transaction speed.
in conclusion:
As a new type of digital currency, Ordi coin has the characteristics of decentralization, security, anonymity, fast and low-cost transactions. It can play a role in shopping payment, cross-border transactions and investment, and has broad future development prospects. With the maturity of the digital currency market and the advancement of technology, Ordi coin is expected to become a more common and reliable payment method.
Ordinals (ORDI) listed on Binance, the price of the coin soared 50%
On the afternoon of November 7th, Beijing time, Binance, the cryptocurrency exchange with the largest trading volume, officially announced the listing of Ordinals (ORDI) tokens and opened ORDI/ BTC, ORDI/ USDT and ORDI/TRY spot trading. After the announcement, ORDI coin soared 50%, and broke through $14 after listing that evening, reaching a high of $14.3. As of today, it has broken a new high of $74.9!
Affected by the surge in ORDI, BRC-20 concept coins also rose synchronously, with the maximum increase reaching 53.80% ($SATS).
According to the Chain Circle market data, at the time of writing this article, ORDI coin was quoted at $13.37, up 79.36% in the past 24 hours and 151.98% in the past 7 days.
What is Ordinals (ORDI)?
Ordinals is a special service that provides a protocol for Bitcoin users to add additional data to their Satoshis and create NFTs using Bitcoin-backed collections.
1. Introduction to Ordinals
Ordinals were proposed in January this year and are a system for numbering satoshis, the smallest unit of Bitcoin (1BTC=100 million sats).
Ordinals can be used to arrange these sats in a certain order and assign them a specific Ordinals, that is, the Ordinals protocol assigns a unique number to each satoshis. This gives each sats uniqueness, and this number identifier will support users to track each sats on the blockchain.
When users attach specific information to these sats, such as images, text, codes, etc., they can make each sats unique, which is the so-called Bitcoin NFT.
In other words, through the ORDI protocol, users can write additional data (such as text, images, sounds, and videos) into the smallest unit of Bitcoin, satoshi. This provides users with a unique opportunity to create collections and NFTs. The protocol enables everyone to add text and data to Bitcoin, and this additional flexibility has the potential to increase Bitcoin's market share.
2. BRC-20 Tokens
These NFTs and collections have become possible with the introduction of the BRC-20 token standard, which provides developers with guidelines for creating new assets, allowing them to work within the larger ecosystem.
Currently, the asset value of BRC-20 tokens exceeds $900 million, and Ordinals plans to increase this number further. To date, more than 200,000 Ordinals have been produced.
3. Ordinals’ goals
Ordinals aims to solve some problems in the Bitcoin ecosystem. Specifically, it makes it easier to use Bitcoin for NFTs.
NFTs (Non-Fungible Tokens) are unique digital tokens that can represent real-world assets, and the NFT space is a rapidly growing space. Ordinals allows the creation of Bitcoin-backed NFTs without the need for sidechains, enabling the creation of on-chain and off-chain elements represented by Ordinals. In addition, rare and special collectibles can be created.
Since Ordinals are units of satoshi, any Bitcoin user can easily deposit and withdraw it.
Data shows that there have been more than 38 million Ordinal inscriptions so far, and demand for these inscriptions seems to have gained new momentum from a potential rebound in cryptocurrencies.
4. What is ORDI coin?
ORDI coin is a meme coin under the BRC20 standard.
At the same time as the release of the BRC20 standard, @domodata launched the first BRC20 experimental token ordi, with a total issuance of 21 million. In the early stages, users only need to pay the on-chain GAS fee to mint it.
ORDI is the first cryptocurrency on BRC20 and also has the largest market value. In addition to ORDI coins, the top market value coins are all Meme coins, such as MEME, PEPE, PIZA, etc. These tokens are mainly hype and have no real value behind them.
It is worth noting that although the Ordinals (ORDI) cryptocurrency has the same name as the Ordinals protocol, it is not the native token of the protocol, but only a meme coin derived from the protocol technology. This also benefits the ORDI coin.
In general, the advantages of Ordinals (ORDI) coin are mainly as follows:
Creating new use cases using the Bitcoin protocol.
Present information such as text and images as NFTs and tokens.
It has gained attention as a new and unique cryptocurrency.
Features of Ordinals
1. Market
The Ordinals ecosystem includes a marketplace where users can buy, sell, and trade their tokens. Users can maximize the value of their collectibles by participating in this non-custodial marketplace.
Users can choose to display their own collection or browse the collections of others. Since the interface provides access to important information about each Ordinals, it is easier to determine whether the token is suitable for your collection.
2. Tokenization
The ability to tokenize assets and transfer them to the Bitcoin network is the main advantage of Ordinals. Ordinals bring an additional dimension of value to the equation because they can be collected and exchanged.
By utilizing this strategy, Bitcoin users are able to gain an additional layer of value without leaving the ecosystem.
3. Safe and reliable
Ordinal provides a level of security on par with the industry. The network provides decentralized services based on an audited platform.
Furthermore, the network is run entirely by code, which eliminates the possibility of human error. In addition to this, the Ordinals project is self-funded, which helps prevent interference from outside sources.
4. Both fungible and irreplaceable
The fact that the Bitcoin protocol does not explicitly identify an ordinal is one of the most interesting and unique aspects of these numbers. Ordinal theory works for those who are aware of it and willing to accept it.
In this way, it offers the possibility of promoting NFT products without jeopardizing Bitcoin’s fundamental fungibility.
5. Create your own collection
The fact that you can give your sats personal characteristics paves the way for the creation of a new collectibles market. Ordinal NFTs are already being produced by a steadily growing community of digital artists.
Early ETH NFT work shows poorly-resolution graphics, much like many NFTs.
