Ordinals: A new way to store and address data on the bitcoin network

[Magicking]

+++
title = "Ordinals: A new way to store and address data on the bitcoin network"
date = "2023-01-29T02:30:51+01:00"
author = "Sylvain Laurent"
authorTwitter = "magicking_" #do not include @
cover = ""
tags = ["nft", "ordinals", "bitcoin", "digital artifacts"]
keywords = ["", ""]
description = ""
showFullContent = false
readingTime = true
hideComments = false
color = "" #color from the theme settings
+++

• NOTE
  What are ordinals?
  The Ordinals are numbers in which newly created Sats are assigned a number.
  What's a sat would you ask me?
  Sat (serial) numbering system is a accounting system that assign a number to each newly created transaction following the Ordinal theory of numbers.

Links https://discord.gg/ordinals
https://docs.google.com/spreadsheets/d/1_a690MxZUFGMnvU8VkchH1wLUxUQKdTbJpF9geBpHqI/edit#gid=0

• It exists primalry on discords, there is a bunch of inscription projects (~66 projects for the past 4 or 5 days)

Who to follows?

• @cbspears

What to expect?

• Light wallet integration
• Exchange on Starknet Ethereum L2
• trustless ord light client

Can we add more data?

Yes you can but i

Ordinals devnet

Is it really that cheap to send data on the bitcoin network?

Like for example the Doom Digital Artifact at Bitcoin TX
Ordinal Viewer

Fees paid 0.00019675 BTC Price per Byte 0.000000006306494006 BTC

Witness size (B) 31198

Block size 4194304B
CD 629,145,600B 3.967702955 BTC

Block time 600 s

16 gwei per byte ça fait 208 dollars
Time transfer 21:36:00

Plan to have ordinals working locally

Start btcd with txindex in devnet, see this guide: https://gist.github.com/System-Glitch/cb4e87bf1ae3fec9925725bb3ebe223a
Connect ordinals to it
Find how to start ordinals with signet
Thinker with decred schnorr implementation

Notes

So to have a good
Technicals peoples are focused on working on trustless clients because otherwise it's not better than a discord server and people exchanging OTC.

35 sat per vbyte charging for the service of storing the data on the blockchain other charge (bitcoin-nouns) for 318 for a single mint of a specific NFT collection

Postage is the fact of having value in the utxo of the bitcoin ordinal so that you don't doxx other UTXO for transfer

Ordinals is a meta protocol that does noes empeed the fungubility of the bitcoin network except for the ordinals users

They have been talking about bitcoin dev community in SF for a year

Wallet with atomic swap
You have 2 inputs and 3 outputs
and

• Ideas:
• Trustless Market places
• With trustless clients
• With BIP322 (message signing)
• With partially signed transaction
  ...

There are discussions about the possibility to have an opt-in blob space where you pay a premium to be inserted

• Offchain fee market when bitcoin congestion

• https://ordinals.wtf/#list
  https://bitcoinops.org/en/topics/tapscript/
  https://github.com/bitcoin/bips/blob/master/bip-0342.mediawiki

Partially signed transaction is when you use transaction that send the funds and the ordinals in the same transaction and each party sign its part of the transaction

I got the opportunity to pitch few ideas around ordinals so first starting with a short introduction, I'm Sylvain Laurent (https://6120.eu) I'm part of the art collective SkyLight, I'm a hacker and I see a lot of new abundances with the Ordinals!

I've spent the last ten(10) years building on different projects mainly driven by passion (started programming at 6) and entrepreneurship.

Coming from the Ethereum scene where building for the developers first with in fine improving end user experience has a goal has been a great success for the onboarding of newcomers on its ecosystem.

Seeing the ordinals, we can understand that we are at a point where people are asking for ordinals but are slowed in their adoption process because of the technical difficulty.

So the strategy is to open has many services has possible to attract users ranging from the easiest to the most complex:

• Collections - Publish art & data (work in progress)
• Explorer - Explore art & data - Integration with 3rd party social platform (work in progress)
• Inscription studio - Help user to publish their own
• Market Places (Trustful + Partially Signed Transaction + R&D for trustless solution)

Meanwhile R&D is busy focusing on reducing the developer friction by providing toolings to help onboarding developer:

• Local workstation (work in progress)
• API (work in progress)
• Various CLI tooling
• Integration with other blockchains (mainly Ethereum & StarkNet)

Most of the work I do is out of love but having a good design on your website cost money so do servers hence, regarding the budget:

• Servers and hardware ( 40% )
• SkyLight artists/devs ( 60% )
• Me ( <3 )

Preferred investor profile: Electricity chaser (Miner)
Reach out if you are interested at s@6120.eu

Finding how you can fiddle with bitcoin limits transaction format limit

First we start by looking at the PeerManagerImpl which manage peers connection, that would be our class receiving and relaying our transaction from mempool node to another.

We see an interesting function for receiving messages that could contains our not yet included transaction.

bool ProcessMessages(CNode* pfrom, std::atomic<bool>& interrupt)

Let's jump to the definition of PeerManagerImpl::ProcessMessages