1/ 🧵The Ordinal protocol assigns an ordinal number to each satoshi, the smallest unit of a Bitcoin, allowing for the creation and transfer of inscriptions - individual satoshis with added content.
2/ ⛓The NFTs are on-chain, meaning the data is stored directly on the blockchain, making them unique and more secure. They are linked to individual satoshis, rather than having their own token, creating a connection with the underlying asset, Bitcoin.
3/ However, this connection can be challenging to maintain, but the Ordinal system uses a shared numbering system to maintain continuity for NFTs.
4/ 👉The integration of NFTs on the Bitcoin blockchain has caused some controversy, with some people concerned that it will negatively impact the financial and transactional use case of Bitcoin, while others believe it will bring more fees and use cases to the chain.
5/ 📈The project leader, Casey Rodarmor, responds to criticism with arguments that the full blocks are part of the security model of Bitcoin and that blocks must be full in order for Bitcoin to be secure.
What do you think? I'm scared, because the downside can be a disaster.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
✋Are you ready to LOSE YOUR MONEY in crypto? Hold on! First, let's understand why some crypto companies FAIL.
👉Here are the 6 crucial elements you need to evaluate before putting your money on the line. This elements can determine the success or failure of a project:
1/ 1️⃣Are they Solving a Real Problem?
2️⃣Have they a Clear Vision?
3️⃣Poor Execution?
4️⃣No Product Market Fit
5️⃣Inexperienced Teams
5️⃣Bad Tokenomics
Let’s start with the first one: 1️⃣Are they solving a real problem?
2/ 💰For a successful crypto company, solving a real market issue with practical solutions is key to attracting and retaining users.
By prioritising meeting market needs through innovation, the company can become a leader in the industry.
$DAG is building the infrastructure that will enable businesses and individuals to transact and conduct commerce in Web3.
In this 🧵thread I will tell you everything you need to know, in a friendly way.
1/ 👉Let’s Start:
The world is becoming more and more data-driven, with vast amounts of information being generated and stored every day.
This has led to increased demand for reliable, secure and efficient data management systems.
2/ The traditional centralized systems, however, are struggling to keep up with the growing data volumes and are also vulnerable to cyber attacks, data breaches and government surveillance. 🔮This is where the Constellation Network $DAG comes in.
A friendly guide to Nodes and Staking in the AllianceBlock ecosystem.
Let’s start this 🧵thread by answering one simple question: Can retail investors delegate their $ALBT to a node and receive rewards?
2/ The short answer is YES! But we will know more about it in the coming weeks/months.
So what we know about the Nodes and Staking?
3/ They chose the Delegated PoS consensus model, which requires regulated and transparent entities to meet certain rules and regulations in order to become a node.
In the $ALBT ecosystem the token is used as an economic incentive and not to secure the network (like ETH PoS).