Ordinals
A method of assigning serial numbers to satoshis and attaching data (inscriptions) to them.
Ordinals track individual satoshis and allow data inscriptions on-chain. This enables NFT-like artifacts directly on base-layer Bitcoin-style chains at the cost of larger blocks and potential fee spikes.
"When inscriptions surge, mempools fill and fees rise as users compete to include large data transactions."
Related Terms
Non-fungible Token (NFT)
→A unique on-chain token representing distinct assets, rights, or collectibles.
Block
→A collection of transactions confirmed on the blockchain, each block building upon the previous one.
Fee
→The amount paid to include a transaction in a block; incentivizes miners/validators and helps prevent spam.
Mempool
→A temporary storage space in a node for pending transactions that have not yet been included in a confirmed block.
All terms and definitions may update as the Cryptionary improves.
