Inscription 2.0 Era: Recursive Inscription Makes Smart Contracts on Bitcoin Chain Possible?

Original Author: Wu Hai, PANews

Original Author: Wu Hai, PANews

But the recent "recursive inscription" proposed by the creator of the Bitcoin protocol Ordinals, Casey Rodarmor, surprised the community and made the community even more imaginative. On June 12, Raph, the new chief maintainer of the Bitcoin protocol Ordinals, merged the "recursive inscription" update 2167 into the Ordinals code on Github, which can use the special "/-/content/:inscription_id" syntax to request other The content of the inscription. This simple change unlocks many powerful use cases.

first level title

Inscription 2.0 era may have arrived

According to developer Leonidas.og, inscribing 10,000 JPEG files for a PFP collection alone is very expensive, but inscribing 200 features from the collection, then making another 10,000 inscriptions, each uses a small amount of code to request features and render them programmatically image. Make artwork stored on the chain in a more efficient way.

In addition, in the previous inscription method, each inscription is independent, and there is no connection between the inscriptions. But this is about to change with the introduction of recursive glyphs. It is possible to completely burn many code packages on the Bitcoin chain, because the code (text form) is called, so the volume is very small, which allows the size of the inscription to break through the 4 MB limit of the Bitcoin block size, and can be complex of 3D video games are fully on-chain to Bitcoin.

This also makes the community think that smart contracts similar to ERC 20 may be able to run on the Bitcoin chain, making scalability and interoperability on the Bitcoin chain possible.

Moreover, the reason why many people are willing to pay for the NFT on the Bitcoin chain is not only hype, but also a story that is permanently stored on the chain. Therefore, if recursive inscriptions make it possible for the Metaverse, which includes subdivisions such as games and DeFi, to operate on the Bitcoin chain, its stories will be sexier than those on other chains.

After the birth of recursive inscriptions, the community or individuals have built multiple projects based on its grammar. At present, 6 collections and indexes have been launched on the trading platform MagicEden. The following PANews will take the Recursive Punks series, which ranks in the forefront of intraday trading volume and is very storytelling and dramatic, as an example.

first level title

Recursive Punks Play Opening

On June 13th, Recursive Punks officially released a series of free minting 10k Recursive ordinals, and then the community spread one after another. Because of the fomo brought about by the server upgrade of the first project on the new protocol before, it was still driven by the desire to try early adopters and innovate. After being discovered by the Chinese community, the number of 10K was quickly burned. When Twitter KOLs retweeted one after another, even their official website could not be opened."/content/"However, after the community finished burning, users continued to find that the original Recursive Punks official developer used the old text, that is to say, the syntax of the recursive inscription text should be"/-/content/:". As a result, users who used the official SVG file to burn the inscription earlier had no picture version, and then the community began to spread the correct correction method, that is, the inscription in the original SVG file"/-/content/:"replace with"/content/"。

replace with

Compared with the unpictured version officially released by Recursive Punks, the revised version with pictures is relatively slow to burn, because the community cannot confirm which version will become a series with stronger consensus. After 24 hours, the corrected, illustrated version of Recursive Punks was burnt. Among them, the Recursive Punks official also found a grammatical error, and tweeted that he hoped that the protocol developers and the community could recognize both the version without pictures and the version with pictures, but then deleted and changed the tweet, and launched a collection of version without pictures on MagicEden.

To the surprise of the community, it should be a series without pictures, but it shows a clear big picture on MagicEden. After technical analysis, it turned out that after Recursive Punks officially submitted the collection to MagicEden, it used front-end rendering to display pictures on the MagicEden platform. In other words, it does not use the implementation of recursive inscriptions to display, which is somewhat inconsistent with the community's expectations.

According to MagicEden data, the total transaction volume of the Recursive Punks without pictures series recorded using the old grammar reached 8.15 bitcoins within a day, making it the series with the largest transaction volume on the platform. Its highest price has risen to 0.002 bitcoin, and the relative burning cost has increased by up to 30 times. Additionally, multiple punks with rarity attributes were sold for 0.05 BTC. Its number of holders also increased by more than 2,000 overnight.

first level title

Summarize

Summarize

The emergence of recursive inscriptions has opened up the previous shackles of non-interoperability, non-programmability, and poor expansion, allowing more possibilities and imaginations on the Bitcoin chain. For example, NFT can be combined with each other, making small games on the chain possible; or dismantling inscriptions, similar to fragmentation, resulting in more calls. There are also community members who think of websites that may achieve decentralization.

From the perspective of the agreement, the future prospects are boundless, and there are sufficiently grand narratives waiting for developers and users to build and use. But at present, the front end is still in a highly controlled situation, because whether an inscription or an NFT series can be collected and indexed on the platform determines the speed of its development and the consensus of being preached. Just like the Recursive Punks mentioned earlier, because of the index, new users cannot be identified for a while.