BTCs (Ordinals)
Crypto Overview
Project Overview
BTCs (Ordinals) is a newly created cryptocurrency token built using the Ordinals protocol on the Bitcoin blockchain. The project aims to create fungible tokens on Bitcoin through the inscription of transferable records.
Purpose and Utility
The stated purpose of BTCs is to serve as a fungible token on Bitcoin, leveraging the Ordinals protocol. Its intended utility is to enable token transfers on Bitcoin's base layer without requiring additional layer-2 solutions.
Business Model Evaluation
The project's business model appears focused on providing a mechanism for token transfers on Bitcoin. The core functionality involves straightforward asset transfers without any inherent interest-bearing or gambling elements.
Current Usage and Adoption
As a relatively new project in the Ordinals ecosystem, BTCs has gained some traction among Bitcoin enthusiasts and traders. The primary use case remains trading and transfer of the tokens.
Development Activity
The project leverages the existing Ordinals protocol infrastructure on Bitcoin. While specific development activity for BTCs itself appears limited, it benefits from the ongoing development of the broader Ordinals ecosystem.
Token Distribution
Information about token distribution and vesting schedules is limited. The project operates on Bitcoin's base layer through the Ordinals protocol, with tokens being created through the inscription process.
Crypto Impact
To assign a comfort level investing in BTCs (Ordinals) from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to BTCs (Ordinals).
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.