Gate Learn New Article ! Dive into Ordinals and explain BRC20.

Gate Learn , dedicated to providing a teaching platform for knowledge related to cryptocurrency, has launched a new article today : What is the Ordinals protocol? Overview of the Bitcoin NFT ecosystem and BRC-20 tokens.

Since the Taproot soft fork upgrade has brought smart contract functionality to the Bitcoin network. Ordinals, a protocol based on Bitcoin blockchain, gives each individual Bitcoin satoshi ( Sat.) a unique number, for ordering sats in a way that creates the “non-fungible” property necessary to create NFTs.

***A “satoshi,” or “sat,” is equivalent to 1/100,000,000 of a single Bitcoin, the smallest possible denomination of Bitcoin.

By attaching metadata to each satoshis, Bitcoin Ordinals enable the "non-fungible" property. On the other hand, BRC-20 is a token standard for fungible tokens implemented within the Ordinals protocol. It's kinda like Ethereum's ERC-20 standard.

This article aims to provide readers with a comprehensive understanding of the development of Bitcoin NFTs, including the generation process of Bitcoin Ordinals and the differences between Bitcoin Ordinals and NFTs on the Ethereum platform. Furthermore, it will delve into the introduction of the BRC-20 token standard and explore the ecosystem, potential use cases, and limitations of Bitcoin Ordinals.

For more information, visit Gate Learn 👉🏻 What is the Ordinals protocol? Overview of the Bitcoin NFT ecosystem and BRC-20 tokens.

** You will Learn**

✅ The development history of Bitcoin NFTs✅ The generation process of Bitcoin Ordinals✅ Differences between Bitcoin Ordinals and NFTs✅ The BRC-20 token standard✅ The ecosystem of Bitcoin Ordinals✅ Potential uses of Bitcoin Ordinals✅ Limitations of Bitcoin Ordinals

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