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- The ordinals protocol allows for the creation of 'digital artifacts' or inscriptions on the Bitcoin blockchain, which are immutable and decentralized.
- The integration of the ordinals protocol with Bitcoin opens up the potential for a decentralized exchange for inscriptions, enabling secure peer-to-peer trading without intermediaries.
Deep dives
The ordinals protocol allows for the storage of arbitrary data on the Bitcoin blockchain
The ordinals protocol enables the numbering and tracking of individual sats on the Bitcoin blockchain, providing a way to store arbitrary data. By using the witness data in Bitcoin transactions, users can assign content to specific sats and create what are referred to as 'digital artifacts' or inscriptions. These inscriptions, which include various types of content like images and text, are entirely immutable and decentralized, residing on the Bitcoin blockchain.
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