# NFTs on BTC

**Published by:** [taihucao](https://paragraph.com/@taihucao/)
**Published on:** 2023-05-15
**URL:** https://paragraph.com/@taihucao/nfts-on-btc

## Content

Basic about BTC Max Supply: 21,000,000 1 BTC = 1 * 10^8 sat UTXO https://river.com/learn/bitcoins-utxo-model Address Types of BTC P2PKH P2SH SegWit P2TR https://bitcoin.design/guide/glossary/address/ Segwit NFT = Non-fungible token NFT on Ethereum Type ERC721 ERC1155 etc. Metadata TokenID Picture, Video, Music, etc. (On-chain or Off-chain) Numbers Infinity Technology Base - Smart Contract NFT on BTC Type Ordinals (One of the NFT solutions only) Metadata Text, Picture, Video, Music, etc. (On-chain) Numbers Limited What is Ordinals? Make every satoshi non-fungible! Segwit + Taproot → Ordinals https://docs.ordinals.com/overview.html satoshis are ordered since mined satoshis are processed in order for BTC transfer transactions Sat Sample Degree Represtation Blocks: A new block is mined approximately every 10 minutes, from now until the end of time. Difficulty adjustments: Every 2016 blocks, or approximately every two weeks, the Bitcoin network responds to changes in hashrate by adjusting the difficulty target which blocks must meet in order to be accepted. Halvings: Every 210,000 blocks, or roughly every four years, the amount of new sats created in every block is cut in half. Cycles: Every six halvings, something magical happens: the halving and the difficulty adjustment coincide. This is called a conjunction, and the time period between conjunctions a cycle. A conjunction occurs roughly every 24 years. The first conjunction should happen some time in 2032. This gives us the following rarity levels: common: Any sat that is not the first sat of its block uncommon: The first sat of each block rare: The first sat of each difficulty adjustment period epic: The first sat of each halving epoch legendary: The first sat of each cycle mythic: The first sat of the genesis block Rare Sat Supply common: 2.1 quadrillion uncommon: 6,929,999 rare: 3437 epic: 32 legendary: 5 mythic: 1 What is Inscriptions? Metadata for NFTs on BTC Text, media, etc. Store in Taproot script ( size < 4M) How the NFT created on BTC? Create a transfer, involve the target sat, input the inscription you would like to write onto BTC blockchain. References https://www.theblockbeats.info/news/35749%20Inscriptions https://news.marsbit.co/20230320170428135918.html

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