Ordi (ORDI) operates as the pioneering BRC-20 token on the Bitcoin network, conceived as a meme coin with additional capabilities beyond traditional Bitcoin transactions. It uses the ordinals protocol to embed data directly into Bitcoin’s blockchain, with the aim of facilitating the creation of an ecosystem of digital assets.
The goal of Ordi is to extend the functionality of Bitcoin by enabling a diverse range of applications, such as NFTs and fungible tokens. Ordi’s functionality supports the creation, trading, and management of digital assets like collectibles, artwork, and other tokenized items directly on the Bitcoin network, leveraging the unique properties of the ordinals protocol to expand its utility.
Ordi utilizes a non-smart contract method to mint and manage tokens. It employs the Bitcoin ordinals inscription protocol, allowing users to inscribe arbitrary data such as text and images onto satoshis. This introduces a method of asset management and creation previously unseen for Bitcoin.
Ordi uses JSON data types inscribed into ordinals to create each token, unlike traditional token systems that rely on smart contracts. This method simplifies the creation and transfer of tokens, enhancing Bitcoin’s blockchain capability.
