Introduction

Picture this: A digital universe where every Ethereum transaction becomes something more—an item with its own intrinsic value, akin to an artist's original print or a rare stamp. That's what EthOrdinals achieves, taking its cue from Bitcoin Ordinals to turn transactions into digital treasures that can be traded or collected.

Let's dive deeper. Each EthOrdinal isn't just a record; it's a canvas. You can engrave it with an array of content to craft a unique, Ethereum-native artifact. And just as Ethereum is built on the pillars of durability, security, and decentralization, so too are these digital wonders. Add to this the compliance with the ERC721 standard, and you've got not just an invention but a groundbreaking reimagining of what transactions can be in this digital age.

Building on Bitcoin Ordinals

EthOrdinals takes the groundbreaking ideas behind Bitcoin Ordinals and doesn't just add to them—it multiplies them. Imagine you're taking an already effective formula and adding turbochargers.

The Ingenious Foundation of Bitcoin Ordinals

To truly grasp the seismic shift that EthOrdinals represents, think of its predecessor, Bitcoin Ordinals, as the grammar of blockchain value. It offers four pillars: 1) The extraction of a unique alchemy from blockchain data, 2) The amplification of that data through what is romantically referred to as 'inscriptions,' 3) A digital scaffold leveraging the Internet's very architecture for these inscriptions, and 4) The breathtaking simplicity in birthing these ordinals.

The Dual Genius of EthOrdinals

But here's where EthOrdinals diverges and leaps into the realm of genius. It finds its raw material not in a sequence of Satoshis, but in the very transactions that pulse through Ethereum's veins. Picture a world where each transaction isn't merely a cold ledger entry, but a collectible waiting to be discovered. The market may be the final arbiter of its worth, but EthOrdinals grants you the lens to see its potential.

Now, the game-changers: EthOrdinals gifts us two paradigm-altering features. First, an unlimited canvas for named properties within each inscription, enriching each transaction like an artist touching up a masterpiece. Second, it innovates by weaving a familial, parent-child tapestry within these inscribed entities. This isn't incremental progress; it's a frontier-busting transformation for NFTs. Think generative art. Think brand new protocols.

Frictionless Frontier

Finally, let's talk friction—or rather, the lack of it. EthOrdinals shatters the proverbial glass ceiling of complexity plaguing NFT creation. Within moments, not hours, you can create an EthOrdinal and place it in our marketplace, as if you're ordering a coffee to go.

In this reimagining, EthOrdinals isn't merely a tool or a feature; it's the cornerstone of a revolution that redefines how we interact with, and think about, the blockchain and NFTs. Welcome to the future.

Inscriptions

Think of EthOrdinals as the fingerprints of the digital realm, individual and unrepeatable. Each is inscribed with its own unique content, creating a distinct identity within the Ethereum universe.

But let's not underestimate the scale of this innovation. It's akin to the World Wide Web itself in flexibility. Your inscription's format? A MIME type coupled with the actual content, which opens doors to virtually any format you can dream of. The genius here is that not only can this content be delivered straight from a web server, but it also embraces the composability of the web. Imagine being able to weave elements from other inscriptions seamlessly into your own.

And where is all this rich content stored? Right on the blockchain. Whether you choose the economical route of transaction data or need the deeper interaction that comes from smart contract storage, EthOrdinals has a solution. To add the cherry on top, you can compress your inscriptions in multiple formats for that extra edge in efficiency and extend beyond the MIME types, accommodating an endless range of data types.

Composability

Imagine the scenario: by engineering EthOrdinals with the fundamental fabrics of the web, you're not just handed a key—you're endowed with a skeleton key capable of unlocking a universe of creative potential. This is more than just a tool; it's akin to discovering a secret passage within a well-trodden castle. You have stumbled upon an invaluable treasure chest filled with digital Lego blocks, each piece inviting you to endlessly reconfigure and remix, stretching the boundaries of what you once thought was possible.

Here's the kicker: by building EthOrdinals in the architecture of the web, you now hold the key to boundless composability. It’s as if you’ve suddenly unlocked a treasure chest of digital Lego blocks, ripe for reconfiguration and recombination in endless, imaginative ways.

The Unsung Maestros: Named Properties

Imagine, if you will, a symphony of digital creation, where every note, every instrument, plays a pivotal role in crafting a harmonious melody. In this vast orchestra, named properties don’t merely find a seat; they conduct the ensemble, silently yet indispensably, weaving a tapestry of flexibility amidst a cornucopia of creative options. They aren’t simply adjuncts in an already convoluted system but rather, the spices that enrich a hearty, digital stew. The forms they assume are manifold: integers, strings, bytes endowed with a MIME type. This isn’t merely a mapping onto existing protocols; it’s an expedition into previously uncharted linguistic realms. It’s akin to unearthing a new dialect in a familiar language, a novel vernacular that stands on the brink of unleashing unprecedented forms of interaction and innovation.

Mapping Properties to the Web: A New Frontier

Envision properties as a conduit, a means to map property data to a recognized web URI, and therein, we uncover a potent and composable force. It's not merely about establishing a connection; it's about crafting bridges to new possibilities, intertwining digital threads in a web of boundless potential. This is more than a mere technical process; it's a journey into the profound, a dive into a sea where data doesn’t just exist but lives, breathes, and evolves, opening doors to unimagined futures and innovations.

Parent-Child Relationship

And here's an elegant nuance: EthOrdinals allows for a parent when created, adding another layer to the tapestry of possibilities. It's as if you have not just a palette of colors, but an entire lineage of hues, each generation giving rise to greater complexity and beauty. The parent-child dynamic in EthOrdinals is not just a hierarchical structure; it's an evolutionary framework. The parent offers wisdom—time-tested and stable—while the child infuses fresh energy and innovation into the system. This duality provides a fertile ground for an unbounded future, molding the architecture into something that can evolve and adapt, just like life itself.

First: Minting EthOrdinals

Imagine holding the keys to a treasure chest. That's what owning the transaction hash means in the world of EthOrdinals. You don't just 'mint'—you craft. And crafting your EthOrdinal is almost deceptively simple: all you need to do is call upon the 'create' method, armed with your transaction hash. The alchemy begins here.

Once you've conjured your EthOrdinal, an array of options unfurls before you. You can either bedazzle it with inscriptions, thus amplifying its value in unimaginable ways, or, you can put it on the marketplace in its raw form, inviting others to appreciate—and capitalize on—its innate worth.

Next: Inscribing EthOrdinals

You've crafted your EthOrdinal. Now comes the equally exhilarating task of inscribing it. Think of inscriptions as your personal brushstrokes on a canvas that's already a masterpiece. Navigate to the Inscribe page, and there you'll discover an intuitive interface ready to assist you in attaching a universe of content types to your creation.

This is where you face another intriguing crossroads: Do you become the Michelangelo of your EthOrdinal, or do you let it stand as a blank canvas for another artist? Each path offers a different set of adventures and rewards, as your EthOrdinal takes its own journey through the ever-expanding blockchain ecosystem.

The Sacred Pledge of Royalties

First things first: At the core of EthOrdinals, beating like a heart, is an unwavering devotion to safeguarding creator royalties. The stage is set; let's delve deeper.

The Corrosive Tactics of Blur and OpenSea

In a landscape where protocols like Blur have played fast and loose with royalties, courting appeal at the expense of artists, the NFT realm finds itself at a critical juncture. Blur, your methodology hasn't just been innovative; it has been corrosive. If we were to impose the discipline of royalties, many of your machinations would instantly become untenable.

OpenSea, too, has joined this puzzling race to the bottom, eschewing royalties even for NFTs relying on the Operator Filter Registry. The move defies understanding and only serves to corrode trust.

No Guard, No Gold

Though troubling, the tactics employed by Blur and others like it are a logical outcome of a system that lacks built-in royalty safeguards. It's akin to leaving the treasury unguarded and then wondering why it's empty.

Guardians of the Royalty Galaxy

The beauty of smart contracts is that they offer us a scalpel, not just a hammer. With surgical precision, we can shut down any unauthorized transfers while permitting individual accounts. Transfers that ignore our marketplace (or others that respect royalties) are summarily rejected.

The integrity of this system is beyond reproach. Both the allocation and dispensation of royalties happen transparently on-chain, leaving no room for gamesmanship. It's not just a promise; it's a promise engraved into the very blocks of the blockchain. Artists, rest easy—your creations are perpetually shielded.

We've adopted a protocol pioneered by Limit Break, a system that's a fortress of multiple security layers, each customizable to our unique needs. Yet our North Star remains the same: the unassailable protection of creator royalties.

The Royalty Mechanics of EthOrdinals

Within the world of EthOrdinals, each creation exists in a quantum state: either 'Minted,' an unblemished canvas, or 'Inscribed,' a painted masterpiece. In its Mint State, a modest 2.5% royalty trickles back to the minter, sustaining the marketplace.

But the inscriber has a palette of options. The royalty fee can be set anywhere from 0 to 7.5%, and the inscriber has the freedom to designate its recipient. This variable, yet disciplined, system creates a thriving, equitable ecosystem for both minters and inscribers alike.

Win-Win Royalties for All

In the nuanced world of digital assets, where the stakes are as virtual as they are palpably real, a minor adjustment can tip the balance. Take, for instance, our judiciously calibrated royalties—a seemingly innocuous 2.5% for mint state and capped at 7.5% for inscribed EthOrdinals. These aren't mere digits. No, they're more like the tiny knobs on a finely tuned instrument, each turn calibrating the harmony of the entire ecosystem.

The brilliance of this approach lies in its subtlety. For collectors and investors, these percentages act as a gentle nudge rather than a shove. They're invited into the marketplace with a hospitable grin, not cornered with exorbitant fees. Yet, they still find the table set with the lure of substantial upside. It's a balanced act, a little like setting the temperature just right—not too hot to scald you, but not too cold to deter a refreshing dip.

What we have, then, is a piece of financial engineering that serves as social engineering. It’s a win-win situation that doesn't just share the pie but actually expands it. In a landscape often marred by zero-sum thinking, this delicate balance is nothing short of revolutionary. It provides room for everyone to breathe, to create, and to profit, enriching the ecosystem for creators, collectors, and investors alike.

Composability Across L2's

Imagine a realm where the lines between Ethereum's Layer 2s are not just porous but virtually non-existent. EthOrdinals shatters the usual boundaries. Here's the magic: EthOrdinals isn't bound by the limitations of the Ethereum mainnet. Instead, it employs a hybrid model that marries on-chain data with a web server protocol, transforming what's possible.

Mainnet Costs

Let's consider the realm of the Ethereum mainnet—a place that often seems more like a gated community for the affluent than a playground for inventive minds. The high transaction costs are a toll gate that many simply cannot afford to pass through. Yet, paradoxically, it's also where the most lucrative markets reside. The mainnet is the Sotheby's of the blockchain universe, where investors and collectors are willing to pay top dollar for unique creations. So, how do you reconcile this contradiction between the exorbitant cost of creating and the lucrative possibilities of selling? Enter EthOrdinals.

Create Where Economical, Sell Where Profitable

EthOrdinals doesn't just lower the toll; it creates secret passageways that connect this exclusive enclave to the teeming neighborhoods of Layer 2s. It offers a financial alchemy that is nothing short of revolutionary: create where it's economical, and sell where it's profitable. It's as if EthOrdinals offers you a map to a previously hidden realm where the roads are smooth, the vistas wide, and the tolls inconsequential. You're granted the ability to initiate your project on Layer 2, where costs are but a whisper, and then, when your creation is ready for the spotlight, effortlessly transition it to the high-stakes auction house of the Ethereum mainnet. This is not about cutting corners; it's about optimizing pathways. You're not only reducing your costs; you're strategically placing your work where it will be most valued. It's like having your cake and eating it too, without ever worrying about the bill.

Creator Freedom

Now, let's zoom in on our artist, no longer confined to the starving archetype but reimagined as a digital savant with a pixelated palette. In the world before EthOrdinals, the artist faced a conundrum: each flourish of the brush or intricate loop of code, although minuscule, would leave a dent in their Ethereum reserves. It was a high-stakes gamble on a virtual canvas. However, the EthOrdinals odyssey radically transforms this equation. This digital virtuoso can begin crafting their opus on the more budget-conscious Layer 2s, where each brushstroke, each line of code, is but a gentle whisper against their ledger.

When the artist is satisfied, when they've expressed what they sought to convey, they can seamlessly transition this masterpiece to the marquee setting of the Ethereum mainnet. It's not merely about cutting costs—it's about elevating freedom, both creative and financial. By acting as a versatile bridge between these worlds, EthOrdinals ushers in an era where creativity is unshackled from economic limitations, enabling artists to explore hitherto inconceivable panoramas within the blockchain domain. We're not just pushing the boundaries here; we're rewriting the atlas of what's possible in this new, more vibrant artistic landscape.