OXBT (Ordinals) OXBT Price

What is OXBT (Ordinals) (OXBT)?

OXBT, or Ordinals Bitcoin, is a digital asset that facilitates the use of Bitcoin's Ordinals protocol. The Ordinals protocol allows for the tracking and transfer of individual satoshis (the smallest unit of Bitcoin) with unique metadata, enabling the creation of NFTs (Non-Fungible Tokens) directly on the Bitcoin blockchain. OXBT aims to enhance the functionality of Bitcoin by providing a platform for creators and collectors to engage with Bitcoin in new ways, enabling the minting and trading of ordinal inscriptions as digital collectibles.

Who are the Founders of OXBT (Ordinals)?

OXBT was co-founded by a group of blockchain enthusiasts and developers who recognized the potential of the Ordinals protocol. Notable figures in the founding team include Casey Rodarmor, who is credited with creating the Ordinals protocol, along with other contributors from the Bitcoin and NFT communities. The team focuses on fostering innovation within the Bitcoin ecosystem while promoting the adoption of OXBT as a viable digital asset.

How does OXBT (Ordinals) Work?

OXBT operates on the Ordinals protocol by leveraging Bitcoin's existing infrastructure. The protocol assigns a unique ordinal number to each satoshi, enabling the tracking of these individual units. Users can inscribe data, such as images, texts, or other digital content, onto these satoshis, effectively creating NFTs. Transactions involving OXBT are conducted on the Bitcoin blockchain, ensuring high security and immutability. The process involves:

• Inscription: Users can create NFTs by inscribing unique data onto satoshis.
• Transfer: OXBT can be transferred between wallets, with the inscriptions remaining intact.
• Marketplace: Users can buy, sell, or trade OXBT on various platforms dedicated to ordinal inscriptions.

Top Use Cases of OXBT (Ordinals)

OXBT has several compelling use cases, including:

• Digital Art: Artists can create and sell unique digital artworks as OXBT NFTs, providing a new revenue stream.
• Collectibles: Users can collect and trade unique ordinal inscriptions, similar to traditional collectibles but secured by the Bitcoin blockchain.
• Gaming: OXBT can be utilized in gaming ecosystems to represent unique in-game assets, enhancing player ownership and tradeability.
• Memorabilia: Historical events or milestones can be commemorated through unique inscriptions, creating digital memorabilia.
• Community Engagement: Brands and organizations can engage their communities by issuing unique tokens or rewards via OXBT inscriptions.

How to Keep your OXBT (Ordinals) Safe?

Securing your OXBT assets is crucial to protect your investment. Here are some recommended practices:

• Use Hardware Wallets: Store your OXBT in hardware wallets, which provide offline security against hacks and malware.
• Enable Two-Factor Authentication: Always enable 2FA on wallets and exchanges that support OXBT transactions.
• Regular Backups: Keep regular backups of your wallet recovery phrases and private keys in secure locations.
• Stay Informed: Follow updates from the OXBT community and the broader Bitcoin ecosystem to stay aware of potential security threats.
• Use Reputable Platforms: Only use trusted and well-reviewed platforms for buying, selling, or trading OXBT.