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Breaking News: Gold on the Bitcoin Blockchain
The post Breaking News: Gold on the Bitcoin Blockchain appeared on BitcoinEthereumNews.com. Swarm Markets, in collaboration with Ordinals Bot, has just tokenized a 1-ounce gold bar on the Bitcoin blockchain for the first time using the Ordinals Protocol. This historic move means that a gold bar can now be represented digitally, and its owner can redeem it for a physical gold bar at any time. This article dives into what the Ordinals Protocol is and how this event impacts both the Gold and Bitcoin markets. What is the Ordinals Protocol? The Ordinals Protocol is a mechanism built on the Bitcoin blockchain that allows users to inscribe data directly onto individual satoshis (the smallest unit of Bitcoin). Unlike traditional tokens, which are usually minted on blockchains like Ethereum using smart contracts, Ordinals enable the direct inscription of assets, like NFTs or now, physical goods, onto the Bitcoin blockchain. This allows for the transfer and tracking of assets, like a gold bar, directly through Bitcoin’s decentralized and highly secure network. Ordinals differ from other tokenization protocols because they leverage Bitcoin’s existing structure without the need for additional layers or smart contracts. This ensures a more secure and immutable representation of assets, like the gold bar tokenized by Swarm Markets, directly on Bitcoin’s chain. Gold and Bitcoin News: Gold on the Bitcoin Blockchain 1- Gold Tokenization on the Bitcoin Blockchain Tokenizing gold through the Ordinals Protocol represents a monumental shift in how we perceive and interact with physical assets. Gold has historically been seen as a reliable store of value, and its digitization on the Bitcoin blockchain adds a layer of liquidity and accessibility. With tokenized gold, investors can hold digital representations of physical bars, enabling quicker trades and transactions while retaining the option to redeem their tokens for actual gold at any time. This evolution could broaden the appeal of gold investment, attracting more…
The post Breaking News: Gold on the Bitcoin Blockchain appeared on BitcoinEthereumNews.com.
Swarm Markets, in collaboration with Ordinals Bot, has just tokenized a 1-ounce gold bar on the Bitcoin blockchain for the first time using the Ordinals Protocol. This historic move means that a gold bar can now be represented digitally, and its owner can redeem it for a physical gold bar at any time. This article dives into what the Ordinals Protocol is and how this event impacts both the Gold and Bitcoin markets. What is the Ordinals Protocol? The Ordinals Protocol is a mechanism built on the Bitcoin blockchain that allows users to inscribe data directly onto individual satoshis (the smallest unit of Bitcoin). Unlike traditional tokens, which are usually minted on blockchains like Ethereum using smart contracts, Ordinals enable the direct inscription of assets, like NFTs or now, physical goods, onto the Bitcoin blockchain. This allows for the transfer and tracking of assets, like a gold bar, directly through Bitcoin’s decentralized and highly secure network. Ordinals differ from other tokenization protocols because they leverage Bitcoin’s existing structure without the need for additional layers or smart contracts. This ensures a more secure and immutable representation of assets, like the gold bar tokenized by Swarm Markets, directly on Bitcoin’s chain. Gold and Bitcoin News: Gold on the Bitcoin Blockchain 1- Gold Tokenization on the Bitcoin Blockchain Tokenizing gold through the Ordinals Protocol represents a monumental shift in how we perceive and interact with physical assets. Gold has historically been seen as a reliable store of value, and its digitization on the Bitcoin blockchain adds a layer of liquidity and accessibility. With tokenized gold, investors can hold digital representations of physical bars, enabling quicker trades and transactions while retaining the option to redeem their tokens for actual gold at any time. This evolution could broaden the appeal of gold investment, attracting more…
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