Episode notes
What are Ordinals?
A scheme for assigning ordinal numbers to satoshis and tracking them across transactions, and a command-line utility, `ord` for querying information about ordinals.
Design
Every satoshi is serially numbered, starting at 0, in the order in which it is mined. These numbers are termed "ordinal numbers", or "ordinals", as they are ordinal numbers in the mathematical sense, giving the order of each satoshi in the totally supply. The word "ordinal" is nicely unambiguous, as it is not used elsewhere in the Bitcoin protocol.
The ordinal numbers of transaction inputs are transferred to outputs in first-in-first-out order, according to the size and order of the transactions inputs and outputs.
If a transaction is mined with the same transaction ID as outputs currently in the UTXO set, following the behavior of Bitcoin Core, the new transaction outputs displace the older UTXO set entries, destroying the ordinals contained in any unspent outputs of the first transaction. This rule is required to handle the two pairs of mainnet transactions with duplicate transaction IDs, namely the coinbase transactions of blocks 91812/91842, and 91722/91880, mined before BIP-34 made the creation of transactions with duplicate IDs impossible.
For the purposes of the assignment algorithm, the coinbase transaction is considered to have an implicit input equal in size to the subsidy, followed by an input for every fee-paying transaction in the block, in the order that those transactions appear in the block. The implicit subsidy input carries the block's newly created ordinals. The implicit fee inputs carry the ordinals that were paid as fees in the block's transactions.
Underpaying the subsidy does not change the ordinal numbers of satoshis mined in subsequent blocks. Ordinals depend only on how many satoshis could have been mined, not how many actually were.
more on ordinals website:
https://rodarmor.com/blog/ordinal-the...
Rodarmor will be going over the following:
- Who am I?
- What are ordinals?
- Ordinals specification
- Ordinals as collectables
- Rare and exotic ordinals
- Ordinals as the basis for art on Bitcoin
- Ordinals block explorer
Ordinals Workshop with Rodamar Meetup Page:
https://www.meetup.com/pleb-lab/event...
Reference material:
https://github.com/casey/ord
Ordinals github
https://github.com/casey/ord
Rodarmor twitter:
https://twitter.com/rodarmor
Come build at PlebLab:
https://pleblab.com
Join us for our next workshop:
https://www.meetup.com/pleb-lab/
A scheme for assigning ordinal numbers to satoshis and tracking them across transactions, and a command-line utility, `ord` for querying information about ordinals.
Design
Every satoshi is serially numbered, starting at 0, in the order in which it is mined. These numbers are termed "ordinal numbers", or "ordinals", as they are ordinal numbers in the mathematical sense, giving the order of each satoshi in the totally supply. The word "ordinal" is nicely unambiguous, as it is not used elsewhere in the Bitcoin protocol.
The ordinal numbers of transaction inputs are transferred to outputs in first-in-first-out order, according to the size and order of the transactions inputs and outputs.
If a transaction is mined with the same transaction ID as outputs currently in the UTXO set, following the behavior of Bitcoin Core, the new transaction outputs displace the older UTXO set entries, destroying the ordinals contained in any unspent outputs of the first transaction. This rule is required to handle the two pairs of mainnet transactions with duplicate transaction IDs, namely the coinbase transactions of blocks 91812/91842, and 91722/91880, mined before BIP-34 made the creation of transactions with duplicate IDs impossible.
For the purposes of the assignment algorithm, the coinbase transaction is considered to have an implicit input equal in size to the subsidy, followed by an input for every fee-paying transaction in the block, in the order that those transactions appear in the block. The implicit subsidy input carries the block's newly created ordinals. The implicit fee inputs carry the ordinals that were paid as fees in the block's transactions.
Underpaying the subsidy does not change the ordinal numbers of satoshis mined in subsequent blocks. Ordinals depend only on how many satoshis could have been mined, not how many actually were.
more on ordinals website:
https://rodarmor.com/blog/ordinal-the...
Rodarmor will be going over the following:
- Who am I?
- What are ordinals?
- Ordinals specification
- Ordinals as collectables
- Rare and exotic ordinals
- Ordinals as the basis for art on Bitcoin
- Ordinals block explorer
Ordinals Workshop with Rodamar Meetup Page:
https://www.meetup.com/pleb-lab/event...
Reference material:
https://github.com/casey/ord
Ordinals github
https://github.com/casey/ord
Rodarmor twitter:
https://twitter.com/rodarmor
Come build at PlebLab:
https://pleblab.com
Join us for our next workshop:
https://www.meetup.com/pleb-lab/
