SHIB (Ordinals)

1. Summary

Ranks

Liquidity

-

Developer

-

Social

11

Momentum (beta)

0

Stack Rank™

-

Price

$0.000000011818 0.0%

Market Cap

$1.54M (#2731)

Supply

/

Tags

BRC-20

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Price
52W High price	$0.000000099500
52W High date	8th Dec 2023 (10 months ago)
All Time High (ATH) Date	5th Sep 2024 (1 month ago)
All Time Low (ATL) Date	5th Sep 2024 (1 month ago)

Supply & Trading Volume
Trading Volume (24h)	$17.00

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Description

Overview

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Overview

SHIB (Ordinals) is a crypto project that leverages the Bitcoin blockchain to create unique digital artifacts, similar to NFTs. Built using the Ordinals protocol, these artifacts are recorded directly on the Bitcoin blockchain.

Ordinals Protocol

The Ordinals protocol, developed by Casey Rodarmor, is divided into two key components: Ordinal theory and inscription. Ordinal theory assigns unique numerical values to Satoshis based on periodic events in the Bitcoin blockchain, such as blocks, difficulty adjustment periods, halvings epochs, and cycles. This allows for tracking and identification of individual Satoshis, effectively making them non-fungible items.

Inscription

The inscription process involves linking content to a specific Satoshi using the Ordinals software. The Ordinals explorer can be used to read these inscriptions, which are stored within a script of a Taproot transaction. Unlike most Ethereum NFTs which store media content off-chain, Ordinals store the content itself on-chain, making each Satoshi a unique digital asset.

Applications

SHIB (Ordinals) enables the creation of digital artifacts, similar to NFTs, but fully recorded on the Bitcoin blockchain. It enhances the Bitcoin ecosystem by offering new possibilities for digital collectibles and unique assets.

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