Author: damian at willtech.com.au 2022-02-23 07:02:03
Published on: 2022-02-23T07:02:03+00:00
In a bitcoin-dev discussion, the concept of numbering each satoshi created was brought up. However, the practicality of this system was questioned due to the large number of ordinal numbers that would need to be assigned for even one block reward. The issue of determining which ordinal numbers are being transferred when BTC is moved to another UTXO was also raised. The process of assigning ordinals was explained, where newly mined satoshis are sequentially numbered and assigned as ordinal numbers. When satoshis are spent in a transaction, the input satoshi ordinal numbers are assigned to output satoshis using a first-in-first-out algorithm. Despite the simplicity of the process, the potential expense of the system was noted, especially with the increasing number of ordinals that would eventually need to be handled.
Updated on: 2023-06-15T17:10:58.258807+00:00