Ordinals

A few of my DAO frens who have dabbled in the Ethereum ecosystem are getting educated in the new world of Ordinal DAOs. Following are the three definitions to get inducted with Ordinals and understand the canvas of Ordinals DAOs like OCMDAO.

1. Ordinal = A stable identifier used for tracking an individual sat (On Bitcoin Blockchain) which makes it non-fungible
2. Ordinal Theory = A protocol for assigning serial numbers to sats and tracking them as they are spent by transactions
3. Digital Artifact = A digital object primitive that requires the asset to be ownable, complete, permissionless, uncensorable, and immutable

Ethereum NFTs:

1. NFT artwork is often stored in IPFS (Interplanetary File System Storage) or on different layers of the Ethereum Blockchain.
2. Supports royalties to creators (Like in the case of Opensea)
3. Ethereum NFTs benefit from established Standards, interoperability across platforms and support of the marketplaces.
4. Rarity is community/perception driven.

Ordinals:

1. Ordinals are stored on individual satoshis on the Bitcoin Blockchain
2. Creators of Ordinals do not receive royalties.
3. Ordinals are less established and still building a lot of the ecosystem around it.
4. Rarity can be determined by block date/history.

What is the OCM DAO?

Unlike Ethereum-based DAOs, OCM made an industry benchmark by migrating the majority of its Ethereum OCM Genesis NFTs to Bitcoin. They have pioneered many industry standards like Parent-Child Provenance. I have been participating in multiple areas within the DAO and vibing with the core values of the DAO.

• Respect - We treat everyone with respect
• Integrity - We strive for the highest ethical standards
• Sustainability - We create for the future
• Enrichment - We provide immense value back to our community and holders

1. I attended the first Ordinals Summit in Singapore last year to understand about Ordinals and the wave of DAOs shaping up in this new canvas.

2. I attended the Taipei Blockchain Summit to meet Danny, the founder of On Chain Monkey. You can see this DAOpunk sporting his OCM Genesis Bitcoin Ordinal (OCM Genesis is on Block 9, 450x, the first bitcoin Satoshi Nakamoto sent to Hal Finney) with his Orange hat.

3. As an educator, I have started sharing my experience in this space with my students. I recently invited Miss Bitcoin (Miss El Salvador) to share her Bitcoin learnings from El Salvador where Bitcoin is a legal tender.

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4. With all the friends I have made at Token2049 (Singapore), Eth India (Bangalore), & Taipei Blockchain Meet (Taiwan), I have started reaching out to experts in the Web3 and blockchain space to start recording podcast episodes with them. Since Ordinals and DAOs on Bitcoin are at the epicentre of the global Web3 innovation canvas in 2024, I have started delving into Ordinals DAOs to understand their architecture and internal functioning.

Stay tuned and follow the journey on the Web3 socials.

• Farcaster
• Lens