fantom

This article is a bit long, so you can focus on the subtitles and the end. 1. The relationship between ordinal numbers, inscriptions, and public chain inscriptions. The concept of inscription started with Bitcoin’s ordinal number. Ordinal allows data to be recorded directly on the chain - it can be text, images, videos, etc. This is the only way for BTC to add support for NFTs and other tokens, as it does not support smart contracts. The Bitcoin network did not support smart contracts in the past, but after the Taproot upgrade in 2021, although it cannot achieve Turing completeness, it can already simulate some things that are Turing complete. This upgrade provided the soil for the birth of the Ordinals protocol. Ordinal/ordinal theory is not a change or a new feature added to the Bitcoin network. It uses one concept out of the box: every Bitcoin is made up of "Satoshis" (sats). 1 Bitcoin = 100,000,000 Satoshi. Therefore, Satoshi Nakamoto is the native currency of the Bitcoin network. On each Satoshi, you can "engrave" (hence the name "inscription") anything you want. For example, you can burn the metadata of an NFT onto satoshi. These credited Satoshis can then be transferred to other addresses using Bitcoin transactions. This allows the Bitcoin network to create "NFT" in this way, while using an "ordinal number" to uniquely identify each "Satoshi". To sum up, the ordinals protocol creates a method of recording each Satoshi with metadata, essentially realizing NFT. - Satoshis can be uniquely identified using ordinal numbers, hence the name "ordinal numbers". After that, someone established a set of currency issuance standards "BRC20" based on "ERC20" on the ordinals protocol. Subsequently, this asset issuance method that is different from traditional ICO has been recognized by the market because it has no pre-sale, no rat warehouse, completely fair launch, and inherits the original tenets of the crypto world. With the popularity of BRC20, the heat has begun to spread to public chains. The public chain with better programmability quoted the "concept" and method of BRC20, opening the era of public chain inscription. 2. The operating principle of public chain inscriptions. But EVM inscription does not inscribe data on each SAT, but inscribes data in "Calldata". What needs to be explained here is the meaning of "transaction call data".Calldata is optional data that can be sent within a transaction. Most often it is used when passing inputs to smart contracts and when aggregating data. Calldata is very cheap compared to calling smart contracts. Public chain inscriptions are mainly engraved on BRC20 type tokens. Call data includes token ID, mintage, and operations. For example, the Fans inscription on Fantom is: {"p":"frc-20","op":"mint","tick":"fans","amt":"10000"} and the Calldata data needs to follow this Only a specific format can become a "(X)RC20" token, such as FRC20, and this set of rules is executed by smart contracts. 3. The decentralized meaning of the inscription has attracted a lot of attention. Because of the above principles, many people think that inscriptions have no logical connection with the public chain and are just some "spam". Most technical people may have this idea, which I think is biased. The significance of technology lies in whether the products built can bring great value. Every bull market in the past has been driven by "redistribution of resources." BTC brings accounting rights to everyone, Ethereum’s ICO provides retail investors with a threshold to participate in the primary market, and #DeFi’s liquidity mining allows retail investors to obtain the benefits of “market makers”. You see, every bull market results from the allocation of centralized resources and power to retail investors. Now, this form of asset sale brought about by ordinal numbers and inscriptions is more profound than #ICO. It allows the asset issuer to no longer have a greater advantage. Once the inscription begins, everyone needs to "mint" instead of just a few people getting more chips. And the metadata of ordinal numbers and inscriptions are all stored on the chain and are clearly visible to everyone. According to the rules of inscription, everyone has the same starting point. And this is what the community and retail investors are looking forward to most. At the same time, thanks to the huge imagination space of the BTC ecosystem itself (the Ethereum ecological market value is hundreds of billions of dollars, while the#BTCecological market value is only a few billion dollars), as well as the limited "capacity", the public chain inscription is inheriting the ordinal decentralization While transforming its meaning, it also inherited huge traffic and resources. With the joint participation of the community and retail investors, the inscription market has shown excellent performance, not only reflected in the price.Even though it seems to have no value now, the entire public chain has been activated. As mentioned before, 90% of the transactions on most EVM chains come from inscription activities. According to The Block, the number of transactions for alternative Ethereum Virtual Machine chains (EVMs) including Fantom, AvalancheCeloPolygon, and BNB Chain began to surge in mid-November. Fantom had the highest increase, reaching 1,321%, up from 239,920 transactions on November 17 3.41 million transactions as of November 26. But the inscription doesn't stop there. 4. The function of inscriptions. Make decisions about the present with a future perspective. In the past, in the ICO era, 99% of projects had no value, but what does it matter? There is no path that you know where it will lead from the beginning. All concepts that promote social progress and industry development must go through this process. When a technology is born, "concepts" will begin to be drawn around the technology, and funds will be used to promote these concepts from imagination to implementation. In the stage of concept formation, no one may know what they can do. They keep trying, exploring and empowering, and after being tested by the market, they finally form a product that can truly promote the development of the industry and promote social progress. In this process, the most important thing is "the trend is correct" - political correctness in the encryption field. It’s decentralization. Therefore, the future potential of inscriptions that are like "blank paper" and have decentralization at their core is unimaginable. First of all, inscriptions can become the underlying assets in the public chain. Inscriptions have the characteristics of limited quantity, no additional issuance, decentralization, and permanent records on the chain. This is the core construction of "value storage". In the encryption world, public chains are like countries and require a complete ecosystem. Therefore, public chains not only need tokens as the currency system and security guarantee within the public chain, but also need value storage to anchor the price of the public chain. The natural attributes of inscriptions can provide value support for public chain tokens, and public chain tokens can price inscriptions. Make the financial system within the ecosystem more stable. Secondly, inscriptions can bring a more diversified and active ecology to the public chain. Driven by the market boom, we have already seen its ability to activate the ecology. In the future, when empowering the inscriptions themselves, the inscriptions will inevitably show richer combinations, and this will be derived outwards.For example, Umate, a global content creator platform, has begun accepting AVAV payments. Of course, more applications will use Inscription settlement in the future. Because the community will form DAOs one by one to promote inscriptions and promote the development of the public chain. Because public chain inscriptions give the community a sense of participation and make the community realize that they are also the masters of the "public chain ecology". Take the#Fansinscription on the Fantom chain as an example. There are a total of 21 million inscriptions. The number of currency-holding addresses is as high as 25,666. The fixed GAS fee is US$378,000. It is one of the EVM inscriptions with the largest number of currency-holding addresses. There is no so-called "project party" to lead all this. These addresses have formed communities, promoting the development of $Fans inscriptions, connecting with the Fantom Foundation, and promoting the http://Frc20.io market and evmswap to be listed on major exchanges. The web3 wallet, which empowers $Fans, and the community team's own Gamefi, Metaverse, platform currency, etc., will also be more closely tied to the Fantom ecosystem in the future. This consensus is very strong. When the public chain ecology is bound to Inscription, these consensuses, resources, and users will be transferred to the public chain, forming greater potential energy and gaining greater valuation space. Of course, this is just my shallowest imagination describing the future of public chain Inscription. It is not the end, and there is no end, because this industry is too early. Just like when BTC was worth $1,000, you dare not imagine that it can reach six Thousands of dollars, and so is the Inscription track. Retail investors should pay attention to the Inscription Track, because it can bring more transparent and fairer rules, and most people do not understand that there are huge returns from 0 to 100, which is an excellent opportunity for retail investors to overtake. Public chain project parties should pay more attention to the inscription track, because it brings traffic and can make the ecology more diverse and rich. Many people say that inscriptions are the touchstone of a public chain. Facts have proved that the#Fantompublic chain is a very technical public chain because it performed very well under the pressure of Inscription traffic. At the same time, in the process of building the Inscription trading platform, the builders and developers of the community also performed at a sufficiently high level. and acuity. I believe that the#Fansinscription with the largest number of addresses and the best public chain#Fantomwill have a wonderful chemical reaction and become the leader of the new generation craze. that's all. #FANS #fantom #铭文点燃市场