I didn’t want to write about BRC20 at first, but too many friends asked me. Let’s start with the conclusion: Those who speculate on BRC20 at this stage will conservatively estimate that they will lose at least 80%. Recently, I have joined a lot of BRC20 inscription groups, and I suddenly discovered that most of these people were originally from sz who played capital markets, and there were also many from the Pangu community. I saw these people shouting about decentralization and wb3 all day long. 0. I was instantly disgusted by the shabby pick who was rushing to do fund trading activities under the guise of blockchain. Risks and benefits based on your analysis of the BRC20 inscription. 😊
BRC20 inscription is an experimental standard for minting tokens on the Bitcoin chain. The inscription is minted on each satoshi through the Ordinals protocol, and is minted fairly on a first-come, first-served basis. BRC20 inscription can be regarded as a programmable currency on Bitcoin, with innovation and potential. The income of BRC20 inscriptions mainly comes from market hype and consensus. If you can participate in the casting in the early stage, you will undoubtedly be the winner now and enjoy thousands of times of income. For example, ORDI, early players will gain huge benefits. BRC20 inscriptions may also be empowered. For example, the Unisat platform uses SATS as gas and rewards consumed by the platform, which will give a certain boost to SATS. Also, the Chinese New Year is coming soon. If you don’t attract people, what can you buy for the New Year? First, you can first understand the three major parts of the BTC layer protocol:
The protocol specifies the rules for writing data on Bitcoin. Indexers provide the ability to query and parse this data. The ledger records token balances and processes transfers
For BRC20, the index server first needs to identify each BRC20 deployment to read the token information. This part is called the "index".
At the same time, since the balance of BRC20 is engraved into the script and cannot be recognized by the BTC network itself, the index server of BRC20 must build a local ledger to record the balance of BRC20. Every time a transfer occurs, whether the transaction can be carried out (there are enough coins), the local ledger needs to be checked and updated.
Question 2: What is the value of BRC20?
Its value lies in collection, but I don’t understand the field of collection, so I can’t say much.
Are there any other values?
nothing now
Because as a token, Ethereum is a complete winner in terms of transaction efficiency, cost, and maturity, so why not use Ethereum directly instead of going through the trouble to use it here.
But I can’t say absolutely, because the Bitcoin community’s ideas are very active, and there may be an application scenario accidentally, but I haven’t seen it yet.
So why is it so popular?
Naturally, it needs to be popular. If you have money, you can make whatever you want popular.
So the heat will definitely last for a while.
The Inscription track originally started in the Bitcoin ecosystem. The birth of Ordinals protocol, Atomics protocol, etc. has undoubtedly injected more vitality and imagination into the Bitcoin ecosystem. Bitcoin seems to be no longer just a useless "big pie", but from " It has stepped down from the throne of "Digital Gold" and opened its own independent application ecosystem, empowering fields such as Defi, NFT, chain games, and the Metaverse. In the future, through the popularity of Inscription, we may be able to see a more down-to-earth side of the "King of Coins", and we hope that the Inscription track can bring lasting value to Bitcoin.
In addition, it has only been one year since the inception of the Inscription Track at the beginning of this year. At present, we can see that the Inscription Track is no longer limited to the Bitcoin ecosystem, but has continuously penetrated and developed into other public chain ecosystems, and its application projects have become increasingly rich. , various public chain inscription markets are becoming increasingly active. The popularity of the Inscription Track has undoubtedly injected a boost into the bear market, and its beneficial effect is also attracting the influx of more players and capital. But how long can the popularity of Inscription Track last? Is it just a temporary fantasy, or can it become a narrative theme leading another bull market in the currency circle like Defi? Let us wait and see.
Creation is not easy, thank you for reading. Friends who want to exchange technology together and layout high-quality currencies can like and follow
