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Cryptocurrency News Articles

WhatsOnChain Launches API Support for 1SatOrdinals NFTs (Beta)

Dec 13, 2024 at 04:00 pm

Get token details, data, and transfers using the WhatsOnChain API!

WhatsOnChain Launches API Support for 1SatOrdinals NFTs (Beta)

Blockchain data explorer and indexer WhatsOnChain is now supporting the 1Sat Ordinals protocol with a set of APIs in beta testing.

This will allow developers to build tools to inscribe individual tokens and collectible series, as well as retrieve any other relevant metadata.

Here’s a closer look at the integration and its significance for 1Sat Ordinals.

WhatsOnChain Adds 1Sat Ordinals APIs (Beta)

It shows growing support for digital tokens built on the Ordinals principles, specifically the 1Sat Ordinals token protocol that utilizes BSV’s scalable blockchain network for fast transfers and low fees.

The APIs will allow app developers to call different metadata attached to individual tokens: their “origin output,” origin number, data content, most recent transfer and transfer history, and any token data contained within a BSV transaction. WhatsOnChain also tags 1Sat Ordinals transactions on its statistics page so users can see how they compare to other BSV apps and protocols.

For now, the beta-test APIs will handle only 1Sat Ordinals NFTs. WhatsOnChain said support for fungible tokens using the BSV20 and BSV21 protocols will come later.

1Sat Ordinals: A Brief Overview

1Sat Ordinals is the name given to NFTs and other tokens on the BSV blockchain. It follows the “Ordinals” token frameworks that exist in various forms on other blockchains (e.g., BRC-20 tokens on BTC).

The basic principle behind Ordinals is that the smallest unit of a blockchain’s native currency unit can be identified with a unique ordinal number. Think of it like a serial number on a banknote, but it’s more useful since it’s digital. In Bitcoin’s case, that’s a “satoshi” or 1/100,000,000th of a bitcoin. 1Sat Ordinals can officially inscribe any satoshi with a serial number starting with those in transaction block 783968 (processed 20th March 2023).

Once identified with its ordinal number, a satoshi can be “inscribed” using Bitcoin Script with additional data such as an image, file, or other value. The unique token now has additional properties that make it useful beyond just being a currency unit—the most common usage is in creating collectible tokens or series of unique NFTs, limited series of fungible tokens, or game items. They may also be used to sell access/usage rights to creative works, serve as tickets or reward points, or any other use case you can imagine for unique digital tokens.

News source:coingeek.com

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Other articles published on Dec 14, 2024