Is the inscription on the Lord of the Rings' ring on the inside?

Nope. One side reads "Azh nazg durbatuluk, azh nazg gimbatul." The other reads "Azh nazg thrakatuluk, agh burzum-ishi gimbatul." They're written in the elvish script (was it cursive sindarin?), but transliterated from Black Speech, the language of Mordor, which as far as I know, Tolkien never gave an alphabet.

I feel so nerdy right now.