Bitcoin has made significant advancements by introducing the Ordinals Protocol, allowing it to be on par with other NFT-enabled blockchains.
Source: Freepik
The Ordinals Protocol allows users to add images, text, and videos to a single satoshi, similar to an NFT token on Ethereum or Solana.
Source: Freepik
The types of data that can be actively inscribed on a Satoshi include images (JPEG, PNG, SVG, WEBP), video files, PDF files, application codes, JSON codes, and audio files.
Source: Freepik
This protocol is the latest advancement that enables NFT-like capabilities on the Bitcoin network.
Source: Freepik
Casey Rodarmor initiated the Ordinals, and the first inscriptions were made on December 14, 2022.
Source: Freepik
The Ordinals Protocol holds great promise, particularly with the increased number of mints and the cryptocurrency market's steady recovery.
The success of the Ordinals Protocol, in turn, will increase Bitcoin's market cap dominance over the total crypto market cap.