Convert ORDI to TWD

ORDI is the first and most prominent BRC-20 token on the Bitcoin blockchain, pioneering a new standard for fungible tokens using the Ordinals protocol.

Key takeaways

• ORDI is the first BRC-20 token, a fungible token standard built on the Bitcoin blockchain via the Ordinals protocol.
• It has a fixed maximum supply of 21 million tokens, mirroring Bitcoin's own supply cap.
• The token's creation and transfer are inscribed as unique digital artifacts (Ordinals) directly onto individual satoshis.
• ORDI's value is intrinsically linked to the innovation and adoption of the BRC-20 and Bitcoin Ordinals ecosystem.
• You can trade ORDI spot and perpetual contracts on major platforms like BTCC.

What is ORDI? Key Specifications & Tokenomics

ORDI is a fungible cryptocurrency token that operates on the Bitcoin blockchain, created using the novel Ordinals protocol and the BRC-20 token standard.

Who created ORDI?

The ORDI token was created by an anonymous developer or group using the pseudonym "Domo." In March 2023, Domo deployed the experimental BRC-20 token standard, with ORDI as its inaugural and flagship token. The creation process did not involve a pre-mine, venture capital funding, or a traditional team structure. Instead, it was launched fairly through a decentralized minting process where anyone could inscribe the deployment and minting inscriptions on the Bitcoin blockchain to claim tokens. This ethos of permissionless innovation aligns closely with Bitcoin's own foundational principles.

How does ORDI work?

ORDI operates through a combination of the Ordinals protocol and the BRC-20 standard, a novel framework on Bitcoin.

• The Ordinals Protocol: This protocol, created by Casey Rodarmor, allows for the inscription of data (like images, text, or JSON) onto individual satoshis (the smallest unit of Bitcoin), turning them into unique digital artifacts or "NFTs."

• The BRC-20 Standard: Domo repurposed this inscription capability to create a standard for fungible tokens. A BRC-20 token like ORDI is defined by a JSON inscription that specifies its ticker (ORDI), max supply, mint limit per transaction, and other parameters.

• Token Lifecycle: The process involves three key inscription types:

  • Deploy: Inscribes the token's core parameters onto a satoshi.
  • Mint: Users create inscriptions to generate new tokens according to the rules set in the deploy inscription.
  • Transfer: Ownership is transferred by inscribing a valid transfer instruction, which the BRC-20 indexer recognizes and updates in its off-chain database.

The actual state of balances (who holds how many ORDI) is maintained by off-chain indexers that parse the Bitcoin blockchain for these specific inscriptions.

What makes ORDI unique and valuable?

ORDI's uniqueness stems from its position as the pioneer of a new token paradigm on Bitcoin.

• First-Mover Advantage: As the first BRC-20 token, ORDI became the symbolic leader of the entire Ordinals and BRC-20 movement, capturing significant mindshare and liquidity.
• Bitcoin-Native: Unlike tokens on sidechains or wrapped assets, ORDI exists directly on the Bitcoin base layer, leveraging its unparalleled security and decentralization. Its existence is a direct testament to Bitcoin's programmability.
• Fixed and Fair Launch: With a max supply capped at 21 million (a homage to Bitcoin) and no pre-mine, its distribution model is considered transparent and fair by the community.
• Cultural Artifact: Beyond its utility, ORDI holds historical and cultural significance as the token that ignited the "inscription" frenzy, bringing a new wave of activity and developers to the Bitcoin ecosystem.

What is ORDI used for?

Currently, ORDI's primary use cases are centered around speculation, trading, and ecosystem participation.

• Trading and Speculation: It is a highly traded asset on major cryptocurrency exchanges, serving as a proxy for betting on the success of the BRC-20 and Bitcoin Ordinals ecosystem. Trade the ORDI/USDT spot pair or ORDIUSDT perpetual contracts on BTCC.
• Governance and Community: Holding ORDI often grants membership and voting rights in decentralized autonomous organizations (DAOs) or community initiatives focused on developing the BRC-20 standard.
• Collateral and Utility: Some emerging decentralized finance (DeFi) protocols and cross-chain bridges within the Bitcoin ecosystem are beginning to accept ORDI as collateral or integrate it for specific utilities, though this is still in early stages.

How Is the ORDI ecosystem developing?

The ecosystem around ORDI and BRC-20 tokens is evolving rapidly.

• Infrastructure Growth: A suite of tools has emerged, including wallets (like UniSat and Xverse), marketplaces, and advanced indexers to improve user experience for holding and trading inscribed tokens.
• Financialization: Decentralized exchanges (DEXs) and lending protocols native to the Bitcoin Ordinals space are being developed, aiming to create a full DeFi stack without leaving the Bitcoin blockchain.
• Cross-Chain Expansion: Bridges and wrapping services allow ORDI to be ported to other blockchains (like Ethereum or Solana), increasing its liquidity and accessibility, though this introduces trust assumptions.
• New Standards: The success of BRC-20 has inspired the creation of other token standards (like SRC-20, Runes) and non-fungible token (NFT) standards on Bitcoin, with ORDI often serving as the benchmark.

How to mine ORDI?

You cannot "mine" ORDI in the traditional Proof-of-Work sense. All 21 million ORDI tokens were created through a minting process that is now complete. The minting involved:

1. Deployment: The initial JSON inscription defining the ORDI token was deployed to the Bitcoin blockchain.
2. Public Minting: For a period after deployment, anyone could participate by creating a "mint" inscription transaction on Bitcoin, paying the associated network fee. This process distributed tokens on a first-come, first-served basis until the max supply was reached. Since the mint concluded, new ORDI tokens cannot be created. The only way to acquire ORDI now is by purchasing it from someone who already holds it on the open market.

How to keep your ORDI Coin safe?

Securing ORDI requires understanding its unique on-chain nature.

• Self-Custody Wallets: Use a dedicated Bitcoin wallet that supports the Ordinals protocol and BRC-20 tokens, such as UniSat Wallet, Xverse, or Leather. Ensure you securely back up your wallet's seed phrase offline.
• Exchange Custody: For active traders, holding ORDI on a reputable exchange like BTCC can be convenient. However, this means you trust the exchange's security practices and do not have direct control over your private keys.
• Transaction Awareness: When transferring ORDI, you are making a Bitcoin transaction with a specific inscription. Double-check all recipient addresses and network fees. Sending to an incompatible wallet or exchange address can result in permanent loss.
• Phishing Scams: Be extremely cautious of fake websites, wallet interfaces, or offers that ask for your seed phrase or private keys. Always verify URLs and official communication channels.

How to buy ORDI Coin?

ORDI is a popular cryptocurrency listed on many exchanges. However, it is recommended to trade on a major platform like BTCC exchange for higher liquidity and better customer support.

1. Register a BTCC Account: Sign up using your email or mobile number and complete the KYC verification to unlock more features and benefits of the platform.
2. Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. You can follow this guide.
3. Start Trading: Go to the trading page and search for the spot trading pair ORDI/USDT or the perpetual contract ORDIUSDT.
4. Place an Order: Enter the amount of ORDI you wish to purchase and submit the order. For contract trading, you can also choose to go short (sell) and adjust the leverage multiplier according to your strategy and risk tolerance.
5. Confirm Your Purchase: For spot purchases, check your personal account to see if the coins have arrived. For contract trades, check the trading page to see if your order was filled successfully.