The bidding process for TwelveFold has attracted criticism from the community and Bitcoin Ordinals’ creator, Casey Rodarmor, due to its complexity and potential for manipulation.
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Bitcoin Ordinals News
“Bitcoin Ordinals” is a term used to refer to a system that creates unique NFTs (non-fungible tokens) by attaching data such as images, videos, and other media to individual satoshis (the smallest unit of Bitcoin) on the base Bitcoin blockchain.
Instead of existing on a separate layer, these NFTs are created using an arbitrary but logical ordering system known as ordinal theory. This system assigns a unique number to each individual Bitcoin satoshi, allowing for the creation of truly unique NFTs that are tied directly to the Bitcoin blockchain.
By attaching media to individual satoshis in this way, Bitcoin Ordinals potentially offer a new way to create and trade digital art and other unique digital assets, with the added security and transparency of the Bitcoin blockchain.
Stay tuned for all the latest Bitcoin Ordinals News.
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