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Introduction
Monero, like any blockchain project, is based on the principle of an open decentralized ledger that guarantees consensus regarding transaction history. However, unlike classic projects like Bitcoin and Ethereum, Monero hides sensitive information from third-party observers, such as transaction participants' addresses, transaction amounts, and the connections between transactions.
Initially, Monero was created as a system with fungible coins, and it is generally considered more fungible than classic blockchain projects due to its private qualities.
The phenomenon of ordinals, which has gained popularity recently, synthetically overcomes this property by associating certain data with transaction outputs, turning them into a digital asset that resembles an NFT.
Implementing ordinals in Monero seemed like an interesting and challenging idea to us. Challenging because the technology on which Monero is built is more complex, and implementing ordinals in the privacy protocol is quite an adventure. Interesting because Monero is perhaps the most community-driven project of all, same time having a very diverse community. We believe that there will be many people who will appreciate our efforts.
Last modified 8mo ago