In the early morning of November 9, 2023, a BRC-20 protocol inscription named piin quietly went online. In the first few hours, this quiet inscription was only inscribed with more than 20 pieces, and the gas fee was about 6 USDT. By 6 o'clock in the morning, The amount of engraving still did not exceed 200, and the gas fee was about 7 USDT. When the time came at 8 o'clock in the morning, the amount of engraving began to increase, and the gas fee always remained above 7 USDT.
On November 10, 2023, all 100,000 piin inscriptions were inscribed in just one day! The gas fee has soared from the initial 5 USDT to a maximum of 20 USDT. Such a high gas fee and a one-day inscription speed have attracted the attention of players in the currency circle. There are even hundreds of inscriptions that have been inscribed and discarded because the gas fee is insufficient and have not been inscribed. And pay the gas fee in vain.
At this point, the first Pinetwork concept-themed BRC-20 inscription - Piin - was officially born, becoming the only inscription project so far that can inscribe 100,000-level inscriptions in just one day.
Why do so many people go to write inscriptions?
This issue has to be brought back to March 2023. A Twitter crypto player proposed the ordinals protocol, because each BTC can be divided into 100 million sat. This sat is the smallest unit of Bitcoin, and the Chinese translation is "Sat." ", and each sat is unique, so the information is written to each sat, and each sat is recorded on the block, becoming information permanently recorded on the Bitcoin chain, and the written information The process is called "engraving", and the written information is called "inscription", so some people say that inscription is the real on-chain NFT. Of course, some people say that the act of engraving is using the BTC chain as a tool to record information. Indeed.
