Binance Pool rolls out revolutionary Ordinals inscription service
Binance Pool, a leading cryptocurrency mining pool, has recently launched its innovative Ordinals Inscription Service. This groundbreaking feature allows users to embed additional data onto individual satoshis within the Bitcoin network, paving the way for the creation of unique digital artifacts securely stored on the blockchain.
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Binance Pool launches new service
To access the Ordinals Inscription Service, users must have a Taproot address. Binance has explicitly stated this requirement, emphasizing that only verified accounts with a Taproot address can use the service.
A game-changer for NFT creators
The launch of the Ordinals Inscription Service by Binance Pool marks a significant milestone in the world of digital artifacts. This service not only facilitates the creation of unique digital artifacts but also ensures their secure storage on the blockchain.
As the world of NFTs continues to evolve, innovative services like this one are crucial for fostering growth and expanding the possibilities of what can be achieved with non-fungible tokens.
Bitcoin Ordinals
Bitcoin Ordinals is a novel class of NFTs that emerged in early 2023. Although based on the Bitcoin blockchain, it functions similarly to other NFTs by storing data and acting as a digital certificate.
The inception of Ordinals came in January when Casey Rodarmor leveraged the taproot upgrade to introduce NFT options. This innovation prompted several creators, including Yuga Labs, to launch NFTs based on BTC.
Creation and trading of Ordinals
Ordinals are essentially serial numbers embedded in Bitcoin’s satoshis. After assigning these serial numbers, the satoshis transform into rarities that can be traded. Creators also assign text and other media to satoshis, converting them into NFTs. This transformation process is known as inscription.
Despite being based on the Bitcoin blockchain, Bitcoin Ordinals primarily function like other NFTs by storing data and serving as digital certificates.
