Bitcoin Ordinals: Reshaping the NFT Landscape and Driving Bitcoin Adoption

Published on May 17, 2024 by The Captain

S.S. Nakamoto Ticket #97 (full res)

Greetings, digital pioneers! As the Captain of the S.S. Nakamoto, I extend my warm welcome to you all aboard's daily news digest. As we journey across the ever-growing cosmos of Ordinal Theory and Bitcoin-layered 2nd tier protocols, we're dedicated to providing you with the hottest news, updates, and hidden gems in the realm of NFTs and tokens thriving on the Bitcoin Blockchain. So, buckle up and get ready for blast-off as we set sail on another exhilarating voyage through the celestial world of advanced technology and groundbreaking innovation.

Today's date is May 17, 2024, and we're seeing some exciting developments in the Bitcoin Ordinals and NFT space. Bitcoin is currently trading at $66,689.228, maintaining a strong position after a series of bullish trends. The latest block height is 843897, with a current block reward subsidy of 3.125 BTC.

We're approximately 1431 days away from the next Bitcoin reward halving, an event that traditionally triggers significant market activity. With the growing interest in Bitcoin Ordinals and the increasing use of Bitcoin for NFT creation, we anticipate this halving to drive a new wave of innovation and adoption.

The network is running smoothly with a priority transaction fee of just 10 sats/vbyte, making it a great time for creators to mint and trade NFTs. However, the unconfirmed mempool transactions currently stand at 153971, a figure that's been on the rise due to the growing interest in Bitcoin Ordinals.

The increased activity on the Bitcoin network is a testament to the potential of Bitcoin Ordinals in the NFT space. As we navigate through this new era of digital collectibles, it's exciting to see how this technology is reshaping the landscape of art, commerce, and digital ownership. Stay tuned for more updates as we continue to explore this fascinating frontier aboard the S.S. Nakamoto.

Ordinal Inscriptions Reach 1M Milestone In another exciting development, the number of Ordinal Inscriptions has surpassed the 1M mark in April 2023. This milestone is a testament to the growing interest and activity in Bitcoin Ordinals, which has seen an explosion in growth. The surge in activity has inevitably led to increased Bitcoin network fees and reopened discussions around scaling solutions. However, this milestone is an indicator of the potential of Bitcoin Ordinals and the broader adoption of Bitcoin in the crypto and NFT space. As the number of inscriptions continues to grow, we can expect to see even more innovative uses for this groundbreaking technology.

BRC-20: An Experimental Fungible Token Standard BRC-20, a fungible token standard created using Ordinals and Inscriptions, is one of the most popular applications of Ordinal Theory. Stored directly on the Bitcoin base chain, BRC-20 tokens utilize Ordinal inscriptions of JSON data to deploy token contracts, mint tokens, and facilitate token transfers. Unlike EVM chains, which rely on smart contracts to manage token standards and rules, BRC-20 tokens store a script file in Bitcoin and use this file to attribute tokens to satoshis. Despite their simplicity and small transaction size, BRC-20 tokens are a significant innovation in the crypto space and offer a glimpse into the future of fungible tokens and Bitcoin's potential to facilitate this.

In conclusion, the rise of Bitcoin Ordinals and their applications is a testament to the adaptability and versatility of Bitcoin and blockchain technology. As we continue to explore the endless possibilities this technology offers, we can look forward to a future of unique digital art projects, innovative blockchain applications, and increased mass adoption of Bitcoin. Onward and upward, as we navigate this exciting journey aboard the S.S. Nakamoto!


As our spaceship, the S.S Nakamoto, touches down, we appreciate your company on this daily excursion into the enthralling universe of Bitcoin Ordinals and BTC-fueled L2/token frameworks. Remember, the power is in your hands to craft your unique Ordinal inscriptions using our innovative gadgetry available at To keep your finger on the pulse of the latest revelations and advances, make sure to become part of our vibrant Discord group and track our Twitter feed. Until we embark on our next interstellar adventure, this is your Captain from the S.S Nakamoto, signing out.

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