ORDI
Crypto Overview
Purpose and Utility
ORDI is the native token of the Bitcoin Ordinals protocol, launched in 2023. Ordinals allows for the inscription of digital content directly onto individual satoshis (the smallest unit of Bitcoin), enabling NFT-like functionality on the Bitcoin blockchain. The ORDI token itself represents the first fungible token created through the Ordinals protocol.
Business Model and Current Usage
The primary utility of ORDI comes from its role in the Ordinals ecosystem, where it serves as both a governance token and a means of value transfer within the Bitcoin NFT marketplace. The protocol enables direct ownership and transfer of digital assets on Bitcoin's base layer, without requiring additional layer-2 solutions.
Real-World Adoption
The Ordinals protocol has seen significant adoption since its launch, with millions of inscriptions created. Trading volumes for ORDI have been substantial across various cryptocurrency exchanges, indicating active market participation. The project has sparked considerable development activity within the Bitcoin ecosystem, leading to new tools and platforms for creating and trading Ordinals.
Platform Development
The underlying technology builds directly on Bitcoin's protocol, making it inherently decentralized. There is ongoing development of infrastructure around Ordinals, with multiple teams building marketplaces and tools to support the ecosystem.
Token Distribution
ORDI tokens were distributed through a fair launch mechanism, with no pre-mine or founder allocation. This approach aligns with principles of fairness and transparency in token distribution.
Crypto Impact
To assign a comfort level investing in ORDI 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 ORDI.
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.