Note: This article is from @joyrich33 Twitter, MarsBit organizes it as follows:
In the past two days, with Binance and ok posting recommendations, the popularity of ordinals has continued to skyrocket, and more and more people are asking, and the current market really needs a new narrative, the wealth effect
#Ordinals has established a new application scenario, which brings a lot of imagination to the Bitcoin ecosystem
Let me introduce you to the ecology of ordinals and how to participate in it as a novice
1. Introduction to Ordinals
The smallest unit of BTC is sat (Satoshi), and 1 BTC is equal to 100 million Satoshi. Ordinals is a protocol that can inscribe data on sats. Allows users to write data such as images, texts, videos, and audios into sats, enabling direct minting, transfer, and destruction of Inscriptions on the Bitcoin chain
This casting process is not called mint, but inscribe (inscription). This is different from the NFT data on Ethereum stored in other facility networks. The inscriptions on Bitcoin are directly recorded on the Bitcoin blockchain. We can also call it BTC NFT.
2. Introduction to BRC-20
This protocol is also implemented based on ordinal. The BRC-20 token standard was created by Twitter user @domodata on March 8, 2023. It is an experimental Bitcoin-replaceable token standard or protocol. It leverages the Ordinal inscription of JSON data to deploy token contracts, mint tokens, and transfer tokens
In essence, BRC-20 is an inscription of text type, while the BTC NFT just mentioned is an inscription of image type
Next is the Xiaobai feeding tutorial:
Ordinals' investment is currently mainly divided into two parts
#BRC20 tokens and #BTCNFT
BRC-20 casting tutorial:
1. First, you need to register a bitcoin wallet to transfer and receive erc-20 tokens. The @unisat_wallet wallet is recommended here
First enter the official website http://uniswat.io and click Download to add the wallet to the browser extension
After installation, create a new wallet and save the Seed Phrase, then the address should choose taproot (P2TR) address starting with bc1p
Next, transfer some BTC from the exchange to the wallet for subsequent casting and trading
The okx is used here. When withdrawing coins, the network selects BTC-bitcoin, then enter the receiving address of the wallet, and then withdraw cash
Enter http://unisat.io after the BTC arrives, link the wallet in the upper right corner, then click brc-20, and enter the name of the token you want to trade in the search box
After searching, click in, and then click mint directly in the upper right corner
Click to enter the name and quantity are entered by default, just choose how many copies you want to print. Then click NEXT
Then it comes to the payment interface. In the box, select the receiving address of the unisat wallet, and then select the Gas fee. Generally, you can choose the middle one. Then click submit pay invoice
Finally click pay with unisat wallet and use unisat wallet to pay BTC
Here is another recommended website
https://idclub.xyz/brc20 , the price is more than half cheaper than unisat
The operation steps are the same as above, it should be noted that the payment address and the amount of BTC to be paid should be copied at the receiving stage
Go to the unisat wallet and fill in the copied address and quantity to transfer BTC
Finally, I need to remind everyone that the vast majority of brc20 are local dogs, so don’t take it lightly
If you want to configure, recommend a few tokens in the head
Ordi, the first native token on brc20, was born with its own hype and is an absolute leader.
meme, the second deployment, is the token with the highest amount of work, inscriptions, and cost among all brc20 tokens
punk, the third deployment, strong ip attribute, the market value of punk on ETH is extremely low
