It is halal crypto to trade.
What are Ordinals?
Ordinals is a concept, not a token in the traditional sense, built on the Bitcoin blockchain. It enables users to inscribe data, including text, images, audio, or video, directly onto individual satoshis (the smallest unit of Bitcoin).
How Ordinals Work
- Ordinals leverage Bitcoin’s Script scripting language to encode data onto satoshis within a Bitcoin transaction.
- Each inscribed satoshi becomes permanently associated with the data, creating a unique digital artifact on the Bitcoin blockchain.
Impact and Considerations
- Ordinals introduce a novel way to store data on the Bitcoin blockchain, potentially expanding its use cases beyond a simple store of value.
- However, inscribing data can increase transaction sizes and fees, raising concerns about scalability for the Bitcoin network.