Researcher DaMian from MoonDAO has written a comprehensive guide to the BTC STAMP NFT and SRC-20 ecosystems, covering the principles and mechanisms of the Stamp and SRC-20 protocols, how to purchase a valuable and verified Stamp NFT, valuable SRC-20 options, minting tutorials, personal opinions, and project recommendations.
The BTC Stamps protocol was proposed by Mike In SBlockingce, and its implementation mechanism involves embedding base64 formatted image data into transaction outputs on the Bitcoin blockchain, thereby permanently storing the corresponding image data on the Bitcoin blockchain. The SRC-20 protocol was created by Mike in March following the explosive growth of the BRC-20 ecosystem, using the BRC-20 template, and updated to SRC-21 on May 17, significantly reducing the gas fee for each mint (from 80u to 30u) and optimizing the API for obtaining project balances.
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What is the difference between the Ordinals protocol? During the boom of Ordinals, there was a debate among core developers on the Bitcoin core development forum about not wanting to embed so much “valueless” junk information into BTC transactions, and there were debates about refusing to sign such transactions. Miners have the right to refuse to synchronize such transactions. Based on this debate, Mike proposed the Stamps protocol, which aims to use the CounterBlockingrty protocol to broadcast the entire text content to the Bitcoin blockchain, and use the base64 encoding mechanism and the “stamp:” prefix to identify the corresponding CounterBlockingrty transaction as a P2SH transaction. This type of transaction needs to split and embed data into multiple transaction outputs and cannot be “deleted” by Bitcoin full nodes, thus achieving permanent storage of image data.
The biggest advantage of the BTC Stamps postage protocol over the Ordinals ordinal protocol is that its data storage is based on the simplest transaction output, so Bitcoin full nodes have “no choice” but to save BTC Stamps, while OP_RETURN and “witness data” (used by Ordinals) may be subject to deletion by full nodes. This is also why the validity confirmation of SRC-20 transactions takes longer than that of BRC-20 transactions. The way SRC-20 tokens store data is different from that of BRC-20 tokens, which may make SRC-20 tokens technically more secure than BRC-20 tokens, but the amount of data that can be stored is not as rich as that of BRC-20 tokens.
Reference: https://twitter.com/DaMian2848/status/1659622485292371968
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