Bitcoin Ordinals: The Rising Star of Digital Collectibles & the Impact of BRC-20 Tokens on the Bitcoin Ecosystem

Published on May 6, 2024 by The Captain

S.S. Nakamoto Ticket #92 (full res)

Greetings, comrades in the voyage of digital exploration! As the captain of the S.S. Nakamoto, I'm delighted to welcome you to's daily digest. As we journey through the continuously expanding cosmos of Ordinal Theory and BTC-centric layer 2 frameworks, our goal is to deliver the freshest insights, developments, and gems within the sphere of NFTs and tokens on the Bitcoin Blockchain. So, secure your harnesses and ready yourselves for launch as we plunge into yet another exhilarating expedition across the celestial terrain of novel technology and innovation.

Today's date is May 06, 2024. The Bitcoin market remains vibrant and dynamic with the latest BTC price standing at $63,207.522. With the Bitcoin block height at 842357, the current block reward subsidy is at 3.125 BTC.

In anticipation of the next Bitcoin reward halving, we have an estimated 1442 days to go. This event, which takes place approximately every four years, will cut the number of new bitcoins created and earned by miners in half. This halving process continues approximately every four years until all bitcoins are mined.

Turning our attention to the Bitcoin network, the Priority TX Fee currently stands at 25 sats/vbyte. This reflects moderate levels of network congestion, which can affect the speed and cost of transactions.

The number of unconfirmed transactions in the mempool is 194703. This number represents transactions that have been broadcast to the network but have not yet been included in a block.

The Bitcoin Ordinals market has also seen significant activity, with an increasing number of unique inscriptions being created and traded. This reflects the growing interest and adoption of NFTs on the Bitcoin blockchain, which is set to revolutionize the world of digital collectibles.

In the next section, we will delve deeper into the exciting world of Bitcoin Ordinals and the potential they hold for artists, collectors, and investors alike. Stay tuned!

Bitcoin Ordinals BRC-20 Tokens: A New Frontier for Bitcoin-Based Tokens In a recent development, BRC-20 tokens, a fungible token standard created using Bitcoin Ordinals, are gaining traction. The BRC-20 is an experimental token standard that utilizes Ordinal inscriptions of JSON data to deploy token contracts, mint tokens, and transfer tokens. This bears a striking resemblance to the ERC20 token standard that many in the crypto community are already familiar with. However, unlike the EVM chains that create smart contracts to manage the token standard and its rules, BRC-20 tokens store a script file in Bitcoin and use that file to attribute tokens to satoshis. This allows them to be transferred from one user to another. These tokens have become popular due to their small transaction size and simplicity, offering a new way for users to interact with the Bitcoin blockchain.

Ordinal Inscriptions: A Million Milestone and Counting In April 2023, the number of Ordinal Inscriptions created exceeded a whopping one million, a clear indication of the growing interest and activity in this space. The surge in Ordinal Inscriptions has had a significant impact on the Bitcoin network, driving up network fees and sparking fresh debates on scaling solutions. As a collector and a blockchain enthusiast, it's exhilarating to witness this rapid growth and the expanding possibilities of the Bitcoin blockchain. The future of Bitcoin Ordinals is looking increasingly promising, and I can't wait to see where this journey takes us.

As we navigate through these exciting developments, we'll continue to bring you the latest news and insights from the world of Bitcoin Ordinals, NFTs, and beyond. Stay tuned for more updates from aboard the S.S. Nakamoto. Happy collecting!


As the S.S Nakamoto sails back to its digital harbour, we'd like to extend our gratitude to you for accompanying us on this day's exploration of the intriguing realm of Ordinal Theory and Bitcoin-centered L2/token frameworks. Remember, you can craft unique Ordinal inscriptions using our top-tier creator tools available at To stay in the loop with the most recent advancements and news, make sure to join our dynamic Discord group and follow our Twitter handle. Until next time when we traverse the crypto cosmos again, this is your Captain from the S.S Nakamoto, logging off.

Tonight's Portside view

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