December 2022, Casey

Rodarmor introduced the theory of Ordinals on Twitter, and this innovative technology attracted widespread attention. Ordinals work by inscribing some information or inscription directly on each Satoshi, and each inscription is tracked and transferred through ordinal theory, which gives each Satoshi a unique ID (making it irreplaceable). This is actually the introduction of a protocol for minting NFT assets to the Bitcoin network.

At that time, BAYC parent company Yuga Labs also released the NFT series-TwelveFold based on the Ordinals protocol, which included 300 limited edition generative art works and sold for a high price of 7 BTC through auction.

Of course, the BTC community has not stopped exploring inscriptions. Since it can pass

The Ordinals protocol issues NFTs on the Bitcoin network. Can tokens be minted through the Ordinals protocol? On March 8, 2023, a Twitter user named DOMO proposed using

Ordinals inscription in JSON data format to implement token contract deployment, minting and transfer. Experimental Bitcoin fungible token protocol BRC-20

It turned out to be the first token of BRC-20, $ORDI, and was issued at the same time. The total amount is 21 million. Everyone can mint it for free (only a handling fee is required) on a first-come, first-served basis.

There is a netizen Long who increased his assets by 10,000 times by playing $ordi, the leading currency of brc20.

How did he do it?

He said: But at that time, with the mentality of giving it a try, I minted 1,000 pieces of ORDI, 1,000 pieces each, for a total of 1 million pieces. The cost is the transfer fee of the Bitcoin network, which is about 3 U, so the price of each token is 0.003 U, which is almost negligible.

Later ordi, it rose to a maximum of 69U, with a total value of 69 million US dollars!

In just 9 months, it jumped from 0.003U to 60U, an increase of nearly 20,000 times!

Is the runes protocol the next ordi?

What are runes?

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