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Ord Alpha bitcoin · ordinals

We just released ord version 0.1.0!

ord is an ordinal number wallet and the index that serves ordinals.com.

This release of ord is by no means complete, but it now supports making ordinal-aware transactions on mainnet using the ord wallet send command thanks to @raphjaph, and boasts much faster indexing thanks to @callmeier.

ord wallet send

The ord wallet commands interact with an existing Bitcoin Core wallet using Core's RPC interface, and this release features a new send subcommand that constructs an ordinal-aware transaction to send a particular ORDINAL to a recipient's ADDRESS:

ord wallet send ORDINAL ADDRESS

We write extensive tests alongside every feature, but bugs can always slip through, and the project as a whole is still immature, so restrictions apply when using ord wallet send with Mainnet wallets.

ord wallet send will refuse to interact with a Mainnet wallet with a name other than ord, which does not start with ord-, to encourage users to explicitly mark wallets as being intended for use with ord.

Using bitcoin-cli wallet commands with an ord wallet risks spending your rarest and most exotic sats, and using ord wallet commands with your main wallet risks doxing your main stash if you assocaite a spicy ordinal with your identity.

Index Optimization

ord must build and maintain an index that maps transaction outputs to ordinal ranges. ord 0.1.0 now exploits the fact that many UTXOs are spent soon after they're created, and uses an in-memory cache to avoid huge numbers of database insertions and retrievals. ord uses the redb database, which is already quite fast, but using an in-memory cache avoids reads from and writes to redb's B-tree, which are more expensive than the in-memory cache's hashmap.

Backwards Compatibility

ord is still alpha-quality software, so breaking changes are inevitable, but starting with version 0.1.0, we'll indicate when breaking changes are included in a release by bumping the minor version number (0.x.0).

Try it out!

Check out ord 0.1.0 and let us know what you think! ord is CC-0-licensed open-source software developed on GitHub.


Bitcoin Chaosnet bitcoin

Ideas for a new Bitcoin testnet:

One of Bitcoin's core features is that coins have real-world value. A testnet with coins that have no value doesn't reproduce dynamics essential to Bitcoin, and doesn't encourage real-world use.


Sending Ordinals on Signet bitcoin · ordinals

Raph and I have been working hard on ord, the ordinal block explorer and wallet, and have just finished the initial version of the ord wallet send ORDINAL ADDRESS command, which makes a transaction sending ORDINAL to ADDRESS.

Ordinal-aware Bitcoin transactions are rather tricky, and must attend to a number of considerations:

This requires a great deal of stressful fiddling with transaction input and output size and order, and a great deal of checks for edge cases. You can see all the gory details in the transaction builder.

All that fiddling has paid off, and today we made three transactions on signet:

ord wallet send will hopefully be much easier to use compared to using bitcoin-cli to manually construct ordinal-aware transactions. Give it a shot and let us know what you think!


Ordinal Theory bitcoin · computers · internet · cryptocurrency · ordinals

I've been working on a numbering scheme for satoshis that allows tracking and transferring individual sats. These numbers are called ordinals, and constitute a numeric namespace for Bitcoin. Satoshis are numbered in the order in which they're mined, and transferred from transaction inputs to transaction outputs in first-in-first-out order. More details are available in the BIP.

Ordinals don't require a separate token, another blockchain, or any changes to Bitcoin. They work right now.

Ordinals can be represented in a few ways:

With raw notation, like so 1905530482684727°. The number is the ordinal number, and the "°" is the Romance language ordinal symbol.

With decimal notation, like so 738848.482684727°. The first number is the block height, and the second is the index of the ordinal within the block.

With degree notation, like so 0°108848′992″482684727‴. We'll get to that in a moment.

A block explorer is available at ordinals.com. You can explore recent blocks, and look up ordinals by number, decimal, degree, or name.

Arbitrary assets, such as NFTs, security tokens, accounts, or stablecoins can be attached to Ordinals.

Ordinals is an open-source project, developed on GitHub. The project consists of a BIP describing the ordinal scheme, an index that communicates with a Bitcoin Core node to track the location of all ordinals, a wallet that allows making ordinal-aware transactions, a block explorer for interactive exploration of the blockchain, and functionality for minting ordinal NFTs.

Rarity

Since ordinals can be tracked and transferred, people will naturally want to collect them. Ordinal theorists can decide for themselves which sats are rare and desirable, but I wanted to provide some hints.

Bitcoin has periodic events, some frequent, some more uncommon, and these naturally lend themselves to a system of rarity. These periodic events are:

This gives us the following rarity levels:

Which brings us to degree notation, which unambiguously represents an ordinal in a way that makes rarity easy to see at a glance:

A°B′C″D‴
│ │ │ ╰─ Index of sat in the block
│ │ ╰─── Index of block in difficulty adjustment period
│ ╰───── Index of block in halving epoch
╰─────── Cycle, numbered starting from 0

Ordinal theorists often use the terms "hour", "minute", "second", and "third" for A, B, C, and D, respectively.

Now for some examples. This ordinal is common:

1°1′1″1‴
│ │ │ ╰─ Not first sat in block
│ │ ╰─── Not first block in difficutly adjustment period
│ ╰───── Not first block in halving epoch
╰─────── Second cycle

This ordinal is uncommon:

1°1′1″0‴
│ │ │ ╰─ First sat in block
│ │ ╰─── Not first block in difficutly adjustment period
│ ╰───── Not first block in halving epoch
╰─────── Second cycle

This ordinal is rare:

1°1′0″0‴
│ │ │ ╰─ First sat in block
│ │ ╰─── First block in difficulty adjustment period
│ ╰───── Not the first block in halving epoch
╰─────── Second cycle

This ordinal is epic:

1°0′1″0‴
│ │ │ ╰─ First sat in block
│ │ ╰─── Not first block in difficulty adjustment period
│ ╰───── First block in halving epoch
╰─────── Second cycle

This ordinal is legendary:

1°0′0″0‴
│ │ │ ╰─ First sat in block
│ │ ╰─── First block in difficulty adjustment period
│ ╰───── First block in halving epoch
╰─────── Second cycle

And this ordinal is mythic:

0°0′0″0‴
│ │ │ ╰─ First sat in block
│ │ ╰─── First block in difficulty adjustment period
│ ╰───── First block in halving epoch
╰─────── First cycle

If the block offset is zero, it may be omitted. This is the uncommon ordinal from above:

1°1′1″
│ │ ╰─ Not first block in difficutly adjustment period
│ ╰─── Not first block in halving epoch
╰───── Second cycle

Supply

Total Supply

Current Supply

At the moment, even uncommon ordinals are quite rare. As of this writing, 745,855 uncommon ordinals have been mined - one per 25.6 bitcoin in circulation.

Names

Each ordinal has a name, consisting of the letters A through Z, that get shorter the larger the ordinal is. They could start short and get longer, but then all the good, short names would be trapped in the unspendable genesis block.

As an example, 1905530482684727°'s name is "iaiufjszmoba". The name of the last ordinal to be mined is "a". Every combination of 10 characters or less is out there, or will be out there, some day.

Exotics

Ordinals may be prized for reasons other than their name or rarity. This might be due to a quality of the number itself, like having an integer square or cube root. Or it might be due to a connection to a historical event, such as ordinals from block 477,120, the block in which SegWit activated, or ordinal 2099999997689999°, the last ordinal that will ever be mined.

Such ordinals are termed "exotic". Which ordinals are exotic and what makes them so is subjective. Ordinal theorists are are encouraged to seek out exotics based on criteria of their own devising.

Archaeology

A lively community of archaeologists devoted to cataloging and collecting early NFTs has sprung up. Here's a great summary of historical NFTs by Chainleft.

A commonly accepted cut-off for early NFTs is March 19th, 2018, the date the first ERC-721 contract, SU SQUARES, was deployed on Ethereum.

Whether or not ordinals are of interest to NFT archaeologists is an open question! In one sense, ordinals were created in early 2022, when I finalized the Ordinals specification. In this sense, they are not of historical interest.

In another sense though, ordinals were in fact created by Satoshi Nakamoto in 2009 when he mined the Bitcoin genesis block. In this sense, ordinals, and especially early ordinals, are certainly of historical interest.

I personally favor the latter view. This is not least because the ordinals were independently discovered on at least two separate occasions, long before the era of modern NFTs began.

On August 21st, 2012, Charlie Lee posted a proposal to add proof-of-stake to Bitcoin to the Bitocin Talk forum. This wasn't an asset scheme, but did use the ordinal algorithm, and was implemented but never deployed.

On October 8th, 2012, jl2012 posted a scheme to the the same forum which uses decimal notation and has all the important properties of ordinals. The scheme was discussed but never implemented.

These independent inventions of ordinals indicate in some way that ordinals were discovered, or rediscovered, and not invented. The ordinals are an inevitability of the mathematics of Bitcoin, stemming not from their modern documentation, but from their ancient genesis. They are the culmination of a sequence of events set in motion with the mining of the first block, so many years ago.