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Bitcoin Inscriptions Meaning

Bitcoin inscriptions, also known as Ordinal inscriptions, refer to the process of embedding arbitrary data directly onto the Bitcoin blockchain. This data can include images, text, audio, video, or code, effectively allowing users to create Bitcoin-native digital artifacts such as NFTs and fungible tokens without relying on sidechains or external protocols. Inscriptions are enabled by Ordinals theory, which assigns unique serial numbers to individual satoshis-the smallest unit of Bitcoin.

By identifying specific satoshis, users can attach metadata to them, making each inscribed satoshi distinct. This approach treats Bitcoin not only as a monetary system but also as a data-bearing ledger. The feasibility of inscriptions was significantly improved by Bitcoin’s SegWit and Taproot upgrades, which expanded the amount of data that can be included in transaction witness fields.

Ordinal inscriptions use a special script structure, often referred to as an “envelope,” that stores data without executing it. This allows up to several megabytes of data to be embedded in a single transaction.

Bitcoin inscriptions have enabled new asset standards, such as Bitcoin-native NFTs and BRC-20 tokens, sparking debate within the community. Supporters argue that inscriptions expand Bitcoin’s use cases and drive innovation.

Critics contend that they increase blockchain bloat, raise transaction fees, and deviate from Bitcoin’s original purpose as a payment network. Regardless of perspective, inscriptions demonstrate Bitcoin’s extensibility within its existing ruleset.

By leveraging protocol upgrades rather than altering consensus, Ordinals highlight how new functionality can emerge organically. Bitcoin inscriptions have become a significant development in the ongoing evolution of the Bitcoin ecosystem.

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Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

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