What is a bitcoin ordinal?

Bitcoin Ordinals are a way for satoshis (individual units of bitcoin) to be numbered, identified, and even inscribed with information—transforming them into non-fungible tokens (NFTs). A satoshi, or sat, is the smallest unit of bitcoin and is named after Bitcoin’s creator, Satoshi Nakamoto.

What is ordinal theory in Bitcoin?

In the context of Bitcoin, Ordinal Theory is a proposed methodology for identifying each satoshi via a serial number and tracking them in the Bitcoin coin supply, from first minting through their entire lifespan of transactions. Thus, ordinal inscriptions are digital assets, similar to NFTs, inscribed on a satoshi in the Bitcoin network.

How are ordinals changing the world of blockchain art?

Ordinals are changing the world of blockchain art by providing an entirely new way to store information on Bitcoin. They are adding extra utility and have increased the number of non-zero Bitcoin addresses to an all-time high.