In the past two days, as Binance and ok published recommendations, the popularity of ordinals continues to skyrocket, and more and more people are asking. Moreover, the current market really needs a new narrative, and the wealth effect#Ordinalshas established a new application scenario. , which brings a lot of room for imagination to the Bitcoin ecosystem. Let’s take you through the ordinals ecosystem and how you can participate in it as a novice.
1. Introduction to Ordinals
The smallest unit of BTC is sat (Satoshi), and 1 BTC is equal to 100 million Satoshi. Ordinals is a protocol that can engrave data on sat. Allows users to write data such as images, text, video and audio to sats, enabling direct casting, transfer and destruction of Inscriptions on the Bitcoin chain
This casting process is not called mint, but is called inscribe. This is different from the NFT data on Ethereum that is stored in other facility networks. The inscription on Bitcoin is directly recorded in the Bitcoin blockchain. We can also call it BTC NFT.
2. Introduction to BRC-20
This protocol is also implemented based on ordinal. The BRC-20 token standard was created by Twitter user @domodata on March 8, 2023. It is an experimental Bitcoin replaceable token standard or protocol. It uses Ordinal inscriptions of JSON data to deploy token contracts, mint tokens, and transfer tokens. Essentially, BRC-20 is a text-type inscription, while the BTC NFT just mentioned is a picture-type inscription.
Tutorial starts:
BRC-20 Casting Tutorial
1. First, you need to register a Bitcoin wallet to transfer and receive erc-20 tokens. It is recommended to use unisat wallet here.
First enter the official website https://unisat.io/
Click Download to add the wallet to the browser extension
After installation, create a new wallet and save the mnemonic. Then select taproot (P2TR) as the address starting with bc1p.
Next, transfer some BTC from the exchange to the wallet for subsequent minting and trading.
Okx is used here. When withdrawing coins, select btc-bitcoin on the network, then enter the payment address of the wallet and withdraw money.
After the BTC arrives, enter https://unisat.io/
Link the wallet in the upper right corner, then click brc-20 and enter the name of the token you want to buy in the search box
After searching, click in, then click mint directly in the upper right corner. The name and quantity are entered by default, and you can just select how many copies you want to make. Then click NEXT
Then you come to the payment interface. In the box, select the payment address of the unisat wallet, and then select the gas fee. Generally, choose the middle one.
Then click submit pay invoice and finally click pay with unisat wallet to use unisat wallet to pay btc
Here is another recommended website: https://idclub.xyz/brc20. The price is more than half cheaper than unisat. The steps are the same as above.
It should be noted that at the payment collection stage, you must copy the payment address and the amount of BTC to be paid. Go to the unisat wallet and fill in the copied address and amount to transfer BTC.
Finally, I need to remind everyone that at present, the vast majority of brc20 are local dogs, so don’t start easily. If you want to configure it, I recommend a few tokens at the top.
Minting NFTs
Recommended Xverse wallet
Enter: https://gamma.io/
Click the "Ordinals" button at the top of the page and select "Create Inscription". Doing so will take you to an upload dashboard like the one pictured below:
Here, first upload the file type you want. Then select your desired fee level (Normal, Higher, or Custom) and enter your Ordinal receiving address to have your NFT delivered to him. NOTE: This is not the BTC address in your Xverse app; you will need to click on the Collectibles tab and press Receive, then copy the Ordinals NFT address that says re to do so.
At this point, press "Continue" on Gamma, agree to the terms of use, and then pay for your minting transaction. There will be a prompt like this:
Just need to wait. Your inscription may take hours, or even days, to complete, depending on your transaction fees and use of the network at the time. Gamma will provide a waiting page where you can view your mint status and transaction details.
