Bitcoin Ordinals and Ethereum NFTs are unique digital assets gaining attention among crypto fans. While NFTs are usually found on Ethereum as valuable digital collectibles, Bitcoin now has its own version – Bitcoin Ordinals. Both of them have their own characteristics based on their prospects, with similarities and differences that bring more functionality to blockchains.
This article will discuss how Bitcoin Ordinal is different from Ethereum NFTs. You will also learn how they work in the digital assets world.
Let’s dive into it.
Table of Contents
What Are Bitcoin Ordinals?
Bitcoin Ordinals were introduced to the Bitcoin network in January 2023 by developer Casey Rodarmor. He created Ordinals to provide added functionality to the Bitcoin blockchain.
Imagine Bitcoin as a giant digital puzzle made up of tiny pieces called Satoshis. Each Bitcoin has 100 million Satoshis inside. Now, these tiny pieces can do more than just be exchanged as currency, instead, they can carry extra information/data on them, which can be inscribed to a Satoshi and turn them into Ordinals. The ability to inscribe on Satoshis makes it possible to keep track of each tiny piece of Bitcoin and see when it was created.
To create and store Bitcoin Ordinals, you need a wallet with the ability to do like Xverse, one of the best wallets for Ordinals.
What Are Ethereum NFTs?
These are special digital tokens, mainly found on the Ethereum blockchain that represent a unique asset. The uniqueness of each NFT is essential, and this information is stored in smart contracts, acting as proof of authenticity or ownership.
There are some unique features about NFTs that make them stand out from other tokens. First, you can’t use one NFT in place of another because each one is special and has its own details that cannot be duplicated. Second, all the info about NFTs, like who owned them before, is saved on the Ethereum blockchain. The information about NFTs is then kept safe on the blockchain and can’t be duplicated or deleted.
How Are Bitcoin Ordinals Different From Ethereum NFTs?
Bitcoin NFTs were able to draw public attention because Bitcoin was initially created to be a peer-to-peer network that deals with Bitcoin as a currency. Bitcoin Ordinals changed this perception and increased the network’s functionality. To create a Bitcoin Ordina, you need to inscribe information onto a Satoshi.
Now, Ethereum NFTs get verified using a special ID system. To own one, you need to use an Ethereum smart contract to create your NFT and pay some ETH gas fees. After that, you can trade, sell, or transfer your NFTS.
Ethereum offers you smart solutions like Polygon, Zksync, Arbitrum, and Optimism, making NFTs secure and fast with less cost. And it’s super secure, with extra networks that make things faster and cheaper. But they also take a good amount of charge from Ethereum validators.
On the other hand, Bitcoin Ordinals are a bit different. They might be used in different ways if you want them. Ordinals act like little inscriptions on the smallest piece of a Bitcoin that could be a sound, a picture, a video or any type of file.
Final Takeaway
Bitcoin Ordinals and Ethereum NFTs make the digital world more interesting. Ethereum has been the go-to place for unique digital things, but now Bitcoin has its own version, Bitcoin Ordinals.
Despite their differences, both Bitcoin Ordinals and Ethereum NFTs bring unique opportunities for artists, creators, and crypto fans.
Also Read : The New Crypto Browser For Android What Is It About?
