A Bit of a Meet-up: Asia's First-Ever Bitcoin Ordinals Summit
Alright, all you Satoshi aficionados, mark your calendars and prepare for liftoff: September 12, 2023 is the maiden voyage of the Bitcoin Ordinals Summit 2023, blazing trails as Asia's first-ever event of its kind. And oh, the venue couldn't get more scintillating - Parkroyal Collection, Marina Bay, Singapore, nestled right in the pulsating heart of Crypto Asia Week, right before the rumble of the Formula 1 Singapore Grand Prix 2023 weekend.
The summit will bring together leading experts, developers, builders, investors, artists, and collectors from the Ordinals space.
The speaker line-up includes industry figureheads such as Udi Wertheimer, creator of the popular Ordinals collection Taproot Wizards; Domo, the creator of the BRC-20 Protocol; and Erin Redwing, COO, Ordinals Protocol. Attendees can expect a full day packed with insights, collaborations, and thought-provoking discussions.
What are Bitcoin Ordinals?
Bitcoin Ordinals allow data to be inscribed into individual satoshis on Bitcoin. They use a logical ordering system called ordinal theory to give each individual satoshi a unique number. Then, arbitrary data can be inscribed into each individual satoshi. This data can range from images, video, audio, text, and even entire applications.
BRC-20, or Bitcoin Request for Comment 20, is an experimental fungible token standard using ordinal inscriptions on Bitcoin, modeled after the Ethereum protocol called ERC-20 (Ethereum Request for Comment 20). Launched by anonymous developer Domo on March 9, 2023, BRC-20 tokens use an experimental standard to create fungible tokens natively on Bitcoin. They circumvent the programmability limitations of Bitcoin and create semi-fungible tokens using ordinal inscriptions. BRC-20 tokens embed JSON data into ordinal inscriptions to enable users to deploy, mint, and transfer tokens.
According to data from Dune Analytics, the Bitcoin network surpassed 10 million Ordinals inscriptions between 14 December 2022 and the end of May 2023, with the majority of them having been made in the latter month. Today, that number has exceeded 16 million.
Domo, the creator of the BRC-20 protocol, expressed excitement about the event, stating, "Ordinals is making Bitcoin cool again, and is kickstarting a renaissance of layer 1 development and activity. The initial success of Ordinals, coupled with the backing from industry leaders and corporations, has the potential to appeal to a rapidly growing community of new Bitcoin users."
For more information and updates on Ordinals Summit 2023, please visit: https://ordsummit.com/. Use the discount code BLOCKHEAD10 for 10% off ticket prices.