Original author:Joyce，BlockBeats
Original editor:Jaleel，BlockBeats
Since the beginning of this year, Bitcoins ecology and narrative have become lively as the price of BTC has slowly risen. In the past two weeks, the price of Bitcoin has reached an 18-month high, breaking through the $35,000 mark yesterday.
The surge in Bitcoin has overflowed into BRC 20 and Ordinals, exciting the Bitcoin ecological community that has been suppressed for a long time, and the price of the currency has naturally risen. Taking the most representative ORDI as an example, the highest increase reached 30% in October.
Batch engraving, inscription number and return to URL, Ordinals largest ever update
On October 24, Ordinals creator Casey Rodarmor merged the v 0.10.0 update into the Ordinals code. This update was hailed by the community as the largest update ever. According to developers@raphjaphand founder@SanjFomojis、@rodarmorAccording to the interpretation, BlockBeats found that the important functions of this update are: batch inscription, adding metadata, inscription number end point, and remote burning command.
Batch engraving uses a new pointer field to efficiently perform multiple engravings in one transaction. The principle of batch engraving is to put all inscriptions into the same input and specify in the output where they should be inscribed. Community creators use this feature by creating a file called batch.yaml.
Add Metadata A metadata field has been added to the inscription, allowing any type of additional information to be added. Users can specify a meta-protocol in the inscription, build any content, and help the indexer differentiate between different protocols.
The inscription number endpoint allows visitors to retrieve inscriptions by number in a URL. The remote burning command burns the asset on the ordinal number and sends the corresponding ETH NFT to the remote burning address for burning. Among them, batch inscription is the most noteworthy feature, which is regarded by community developers as the most powerful feature in the updated version because it will make the casting cost of recursive inscriptions lower. Recursive inscription is a feature unlocked in the Ordinals update in June this year. Recursive inscription allows inscriptions to interact with each other to achieve new use cases, making good use of the composability of the Ordinals protocol.
In addition, the new feature allowing visitors to obtain inscriptions by number in the URL is also exciting for the community. In the previous Inscription Number Variability debate, Casey Rodarmor had hoped that the inscription number would no longer be used in URLs. However, such an idea risked dispelling the meaning of the inscription, which aroused strong opposition from the community. In the end, Casey expressed his disapproval of the communitys opinions. A compromise was made, and the inscription number became an important inscription identifier recognized by the community.
Related Reading:Ordinals Inscription Number renews the debate over variability: retain culture, or develop technology?》
Interestingly, in a tweet Celebrating that you can once again reach the corresponding NFT directly through the inscription number of the URL, Caseys forwarded comment seemed to be a little helpless and resentful, We finally gave in.
Bitcoin idealist or time traveler? Eight years ago, someone was collecting rare satoshis
The unit of Bitcoin is Satoshi, and each Bitcoin is composed of 100 million Satoshis. Since every satoshi in Bitcoin can be tracked and transferred, and the scarcity and specialness of satoshis can be determined by ordinal theorists, satoshis have a special meaning.
On January 21, 2023, Bitcoin developer Casey Rodarmor launched the Ordinal protocol, which provided unique numbers for satoshis, thus creating a new way to play - speculating on rare satoshis.
Related Reading:Rare Satoshi: Are you ambush for the next wave of hype narratives after BRC 20?》
Therefore, speculating on rare coins is a method that only started this year, and on October 23, a Twitter user@TOA Bitcoin wallet from 2014 was discovered that contained 1,616 satoshis, 1,615 of which were rare satoshis. Meaning the wallet owner separated satoshis from UTXOs 9 years before ordinal theory was introduced.
With such a rare probability of 1615/1616 and the time of 8 years ago, this discovery can only be described as surprise and magical.
Rare satoshis are a concept that emerged after ordinal number theory, so it is difficult to understand how this wallet owner consciously extracted rare satoshis eight years ago.
The community called this lucky person a time traveler and collected it silently eight years ago. After many ups and downs of Bitcoin, when the Ordinals protocol was born and rare satoshis were discovered, the collection preferences that once belonged to this wallet owner suddenly changed. This incident adds a footnote to the community’s belief in Bitcoin.
BRC-69 new gameplay, Ordibots 3D series released
Founder of OrdiBots@RAF_BTCPosted a tweet on the morning of the 24th, announcing that the new series of Ordibots 3D will be launched randomly.
This new series of 3D releases uses the BRC-69 standard, which enables complete 3D assets to be implemented on the chain. Created by Luminex Launchpad, BRC-69 uses a technique called recursive inscription to optimize block space usage by up to 90%.
Since its launch in July, BRC-69 has attracted great attention from the community. Through recursive inscription, minters only need to enter text instead of uploading image files to present the final image on all Bitcoin NFTs. Based on this, the size of the inscription will not be limited by the Bitcoin block size of 4 MB.
@RAF_BTCA video was made in the tweet announcing Ordibots 3D. The content of the video is the release tweet of the first NFT series OrdiBots released with Generative BRC-721 in May this year. One by one, 3D OrdiBots opened the door of static NFT pictures and landed one after another.
At that time, Generative BRC-721 significantly reduced the cost for project parties and users to issue and mint NFTs by only uploading features and then combining them, but that was just the beginning. BRC-69 gave the Ordinals ecosystem a greater space for imagination. .
Proposal to use $ordi to govern BRC 20
KOL 0x Wizard (@0x cryptowizard) proposed a governance proposal. He believes that as the first and most widely accepted BRC 20 asset, $ordi has been considered the Native Token of the BRC 20 protocol, due to more and more concerns about BRC 20 Proposals have emerged. Out of the need for decentralized governance, people need a governance mechanism and a punishment mechanism to prevent centralized indexers from doing evil. Therefore, 0x Wizard proposes $ordi as a governance token that community participants can use to vote on future proposals for BRC 20. The indexer needs to pledge $ordi for indexing, and at the same time obtain the corresponding ecological fees (such as various ecological fees in the future). If an incorrect/malicious result occurs, the $ordi pledged by the indexer will be confiscated.
Community members expressed their thoughts: The only way out for $ordi is to serve as the governance token of BRC 20. While empowering $ordi, it will also open up the future expansion of BRC 20. It is a pity that after $ordi has gone so far, No one can fully catch it. If a few months ago@domodataJoin several powerful exchanges to implement the BRC 20 protocol DAO, and then build a decentralized index. BRC 20 and ordinarys will develop better than now. This is an obvious governance strategy, so why is no one advancing it?
Founder of OrdiBots and DogePunks@RAF_BTCExpressing full agreement with this proposal: But obviously, this kind of move should not become a speculative method. If a balance can be found, this is a very good suggestion.
Ordinals Native DeFi? BRC-100, an upgraded version of BRC-20
Bitcoin-based protocols such as BRC-20 and ordinal theory have brought a lot of imagination to the development of the Bitcoin ecosystem through the on-chain declaration, off-chain calculation mechanism. However, in the Bitcoin ecosystem, the development of decentralized applications such as DeFi is still lagging behind.
On October 19, the BRC-100 index was launched on the official website. According to the developer@MikaelBTCIntroduction, BRC-100 is built based on Ordinals, introducing protocol inheritance, application nesting, state machine model and decentralized governance, bringing computing power to the Bitcoin blockchain, making it possible to build AMM DEX, lending and other Bitcoin-native solutions. Centralized applications are possible.
In other words, the BRC-100 protocol is not just a token protocol, but an application protocol. It can design DeFi through UTXO and state machine models, protocol inheritance, application nesting, and built-in decentralized governance design. , SocialFi, GameFi and other decentralized, trustless, censorship-resistant, permissionless applications.
In the minds of developers, BRC-100 has very rich use cases. On October 25, the Layer 1 Foundation established by domo, the founder of BRC-20, released an introduction to BRC-100, endorsed by domo, BRC- 100 has become a hot topic in the community today.
Hundred times profit? PIPE developers write code live
Ordinals founder Casey Rodarmor has always been opposed to BRC 20, so on September 26, he proposed Runes, a new protocol based on the Bitcoin network, as a potential alternative to BRC 20. Casey Rodarmor said that alternative token protocols like Runes will not leave a large amount of junk UTXO on the Bitcoin network like the BRC 20 token.
Something interesting has happened recently after Casey proposed the Runes Protocol. Benny, the founder of Trac, upgraded it to another protocol called pipe. Developers have continued to join, the development is developing rapidly, and the deployment and casting platform has been developed.
In the opinion of the community, PIPE is the first token after the concept of Runes was proposed, and it is also the first token of the pipe protocol. It has its dual identity meaning, and it is even compared to $ordi in BRC 20. PIPE is regarded as another popular narrative in the BTC ecosystem after ATOM. It only cost $0.125 to mint in September, but now it has risen to $100 per piece.
Interestingly, the PIPE ecosystem team once wrote the pipe wallet code live online.
