加密资产协议百家争鸣，OKX Web3钱包深化一站式体验
The failure of the 2012 attempt to realize the asset issuance concept dyed coins on the Bitcoin network highlighted the huge advantages of Ethereums smart contracts. ERC-20, the earliest token standard on Ethereum, defines the interface specification of token contracts through smart contract functions, simplifying and unifying token issuance standards and transaction frameworks while promoting interoperability between tokens. The success of the ERC-20 standard has promoted the prosperity of the Ethereum token economy, and more than 80% of projects use Ethereum as the underlying architecture.
Subsequently, the ERC-721 standard and the ERC-1155 standard introduced non-fungible tokens NFT, creating new assets that are different from the fungible tokens supported by the ERC-20 standard, providing opportunities for blockchain games, on-chain identities, and digital Art and other fields bring innovative genes. In addition, many asset protocols such as ERC-223 standard, ERC-884 standard, and ERC-777 standard have appeared in the encryption industry, but most of them have been silent in the great wave of development of the encryption industry. There are only ERC-20, ERC-721, and ERC- 1155 Standards These few key asset protocols have become an important pillar in promoting the development of crypto assets.
The 2023 Bitcoin inscription asset issuance protocols BRC-20, ARC-20, SRC-20, Runes and DRC-20, as well as the token standard ERC-404 that explores the combination of Ethereum graphics and currency, and the new Solana generation that attempts to solve the NFT liquidity problem The birth of the currency standard Tiny SPL and so on has broken the long-term dominance of Ethereums ERC-20 and ERC-721 asset protocols in one fell swoop. Encrypted asset protocols are ushering in a hundred schools of thought, and assets such as inscriptions, coins, tokens, and NFTs are constantly enriched. At the same time, users’ demand for diversified asset transactions has become increasingly strong, but the development of emerging assets on different public chains has exposed the backwardness and rudimentary nature of their infrastructure, which not only fails to meet the needs of users, but also intensifies the fragmentation of hot assets and small-scale narratives It is difficult to resonate with the industry. Against this background, OKX Web3 Wallet, which has strong technology accumulation, quickly responds to market hot spots and creates a one-stop trading experience based on user needs. It is becoming an indispensable and the most advanced trading tool in the market for Web3 users. Essentially improve the above pain points.
ERC-404 and Tiny SPL standards, exploring a new paradigm of combining Ethereum tokens
Supported by the ERC-721 and ERC-1155 standards, non-fungible token NFT assets have brought a revolutionary concept to Ethereum, but due to their indivisible and unique characteristics, they cannot be compared to ERC-20 fungible tokens. The order book matching transaction can only be carried out in the same way as currency, which can only be the simplest pending order transaction. Theoretically, as long as the market is large enough, NFT asset liquidity is not a big problem. However, due to its single narrative and solid gameplay model, the liquidity issue of NFT assets has been criticized and has become a constraint that hinders its further large-scale development.
NFT fragmentation protocols such as Fractional, Niftex, and Unicly have never stopped exploring NFT liquidity problems. They mainly fragment valuable NFTs into more low-value NFTs or ERC-20 Tokens. However, due to the risk of value confusion and reliance on third-party protocols, There has never been an obvious breakthrough on issues such as sexuality. Until recently, the ERC-20 and ERC-721 hybrid token standard ERC-404 came into being. It is a protocol with native liquidity and fragmentation, leading a new asset paradigm that combines Ethereum graphics and currency. Take Pandora, the first project built based on the ERC-404 standard, as an example. When users buy or sell PANDORA tokens, they will receive newly minted or destroyed Relicant NFTs at the same time, and the rarity will also change at any time. This innovative gameplay Opening up a new world of crypto assets.
The ERC-404 standard combines the tokens into one, but can be bought and sold separately at the same time. This means that while maintaining the original attributes of NFT, it can also be traded on DEX like a token. In order to better support more innovative asset protocols and quickly respond to user needs, OKX Web3 wallet is the first to support the ERC-404 standard. Users can trade ERC-404 tokens such as PANDORA on OKX DEX and use the newly added ERC- If you discover hot projects in the 404 sector, you can also conduct ERC 404 NFT transactions such as Relicant NFT through the OKX NFT market, helping users earn ERC 404 ecology safely and conveniently.
The new token standard Tiny SPL born in the Solana ecosystem is similar to the ERC-404 standard. Its first Deez Nuts (DN) can be traded as NFT in the OKX NFT market, or through the projects self-built AMM and OKX DEX As a token transaction, the metadata of Tiny SPL tokens are all stored on the chain, similar to Bitcoin Ordinals inscription assets. Currently, the OKX Web3 wallet has developed into a wallet that supports the Solana ecosystem with the most comprehensive functions, the richest rewards, and the safest and most convenient user experience. Users can not only conduct cross-chain transactions on the Solana network through OKX DEX, participate in the mainstream protocol staking and lending of the Solana ecosystem through OKX DeFi, explore Solana NFT and inscription ecology through the OKX NFT market, manage Solana assets through the OKX Web3 wallet, but also through The OKX Discover section explores and interacts with Solanas popular DAPPs, etc., helping users quickly grasp the opportunities brought by Solanas new token standards such as Tiny SPL.
The emergence of Tiny SPL and ERC-404 standards has given NFT its own NFT-Fi attributes, but both are still in the experimental stage and there is a risk of failure. But this has laid a good foundation for the combined development of graphics and currency and opened up new ideas. Users will experience more new asset protocols in the fastest, most comprehensive and safest way through the OKX Web3 wallet.
Various XRC-20s have been launched one after another, and hundreds of schools of thought are contending in the Bitcoin ecological asset protocol.
The birth of the Ordinals protocol, full of innovation and experimentation, officially kicked off the evolution of the Bitcoin asset protocol. The emergence of Bitcoin token standards such as BRC-20, ARC-20, SRC-20, Runes and DRC-20 has inherited the ideal of dyed coins to realize asset issuance on the Bitcoin network, and has successfully achieved breakthroughs, turning Bitcoin into Moving from a purely peer-to-peer electronic cash system towards more possibilities and solving the problem of miners’ income after Bitcoin is mined.
Emerging asset protocols demonstrate the huge potential of the Bitcoin network ecosystem, and the inscription narrative explodes. The OKX NFT market was the first to respond to user needs and launched the OKX Ordinals market, quickly occupying the market. According to Dune data, on January 30, OKX Ordinals accounted for 89.3% of the market, and the total transaction volume exceeded US$1 billion, becoming the industrys largest BRC 20 inscription and BTC NFT trading market. The OKX Ordinals market is completely decentralized, free of platform service fees for interaction, and supports multiple functions such as one-stop transfer, transaction, and engraving of BRC-20 and BTC NFT. It has also launched a powerful inscription tool that supports batch engraving of users single signatures. , BTC network engraving can engrave 1,200 transactions at a time, and EVM network engraving can automatically engrave 50 transactions at a time, which greatly simplifies the tedious steps and improves transaction efficiency. In addition, the OKX Ordinals market also optimizes the UTXO spending sequence to further reduce user GAS, and during the users order placement and purchase processes, it also protects users from malicious orders with low GAS by encrypting PSBT signatures, disabling RBF transactions, and server broadcasts. . In terms of UTXO management, the OKX Ordinals market supports the function of preventing valid UTXO spending and intelligently canceling invalid UTXO. The platform can automatically identify worthless NFTs, as well as invalid BRC-20 and BRC 20-S inscriptions, helping users to cancel their occupation with one click.
OKX Web3 wallet is gradually integrating inscription token standards such as ARC-20, SRC-20, Runes and DRC-20, providing millions of users with zero-handling inscription trading services, and providing industry users with the first and most leading One-stop inscription ecological platform. For example, the current OKX Web3 wallets support for inscription assets has been extended to the multi-chain inscription ecosystem. For example, the OKX NFT market has supported recursive inscriptions, cursed inscriptions, BRC-420 standards, Solana inscriptions, and Aptos inscription transactions. OKX Discover has added The Ethscriptions area helps users interact with popular Dapps in one stop, play with the Ethscription ecology, and more.
Although asset protocols such as BRC-20 are not the ultimate solution for the Bitcoin ecosystem, they promote the development of the Bitcoin network, maintain the security and legitimacy of Bitcoin assets, and enhance scalability. Although the innovations on Ethereum cannot be repeated on the Bitcoin network, the evolution of the Inscription Asset Protocol paradigm is like a Renaissance movement, writing a new narrative for the future of Bitcoin. The OKX Web3 wallet will be one of the most important infrastructures of the Bitcoin ecosystem.
Asset protocol enters a new era, OKX Web3 wallet deepens one-stop experience
In the encryption industry, everything can be tokenized. Tokens represent proof of income, governance, identity, contribution, etc., and become the core of project development and enhanced user participation. With thousands of tokens being issued based on various asset protocols every moment, diversified token standards have become very important. The birth of ERC-404, Tiny SPL and various XRC-20 broke the inherent paradigm of ERC-20, ERC-721, and ERC-1155 token standards and pushed the asset protocol into a new era. With the prosperity and development of public chains in the future and the emergence and evolution of more emerging asset protocols, more options will be provided for the issuance and value capture of tokens. The healthy development of the entire crypto ecosystem is crucial.
At present, the boundaries between assets such as inscriptions, coins, tokens, and NFTs have gradually blurred and moved towards integrated innovation. Influenced by the innovative demonstration effect of mainstream public chain asset protocols such as Bitcoin, Ethereum, Solana, etc., it has stimulated the development of different public chains. The acceleration of asset innovation has led to the market putting forward higher and more urgent requirements for crypto trading tools. OKX Web3 Wallet continues to deepen the one-stop optimal experience through technological innovation. DEX, DeFi, NFT market, and Discover sectors are collaboratively supported and compatible more flexible to adapt to changing user needs.
In particular, the OKX NFT market, OKX DEX and Discover sectors respond very quickly to user needs. Taking OKX DEX as an example, it is one of the most powerful DEX and cross-chain aggregators in the industry. It has now aggregated more than 10 cross-chains and more than 20 public chains, more than 300 DEXs, etc., through Functions such as price list and KYT security detection can basically meet the transaction needs of users for mainstream and innovative homogeneous assets.
In the crypto industry, several asset protocols are born and several asset protocols die every day. Only a few asset protocols can stand out from the struggle, carrying expectations for a simple and efficient future and gathering greater community consensus. The market needs to be cautious and open. Embrace this innovation.
