You may have noticed that on 21 January 2023, the hype around Non-Fungible Tokens (NFTs) with Ordinals also started for Bitcoin. Not everyone is happy about the introduction of NFTs in the Bitcoin network, but that is not today’s topic. Bitcoin’s little brother litecoin was enthusiastic and developers launched Ordinals on Litecoin on 19 February.
Most likely, the serial number was introduced on Litecoin because of the opening of a bounty of 15 Litecoin (LTC) before it. Bounties are rewards people give developers for building something. In this case, it is the Bitcoin Ordinals fork of the latest Litecoin Core software version 0.21.2.1. Initially, it was a bounty of 5 Litecoin from Indigo, but two other Litecoiners added another 5 Litecoin. At the current price of $93.35 per Litecoin, that’s about $1,400. It was not a lot of money, but it was enough for Bitcoin developer Anthony Gurrera to take over the project.
What are ordinals?
The Ordinals protocol allows users to quote digital art in small transactions on the Bitcoin blockchain. By adding this data, they effectively create a Bitcoin-based non-fungible token (NFT). Having implemented the same protocol on Litecoin, Bitcoin’s little brother can now do the same.