The developers introduced a new standard for Bitcoin Ordinals

NFT_on_Bitcoin
NFT_on_Bitcoin

Ordinals-Platform Luminex team introduced the BRC-69 standard, which simplifies and reduces the cost of issuing NFT collections of recursive inscriptions in the bitcoin blockchain.

“As the number of Ordinals grows, space in bitcoin blocks becomes more scarce and more expensive. We need innovative approaches that allow authors to implement their ideas while optimizing efficiency,” the developers explained.

According to them, BRC-69 reduces the cost of releasing collections by more than 90%. Fee reduction is achieved through a four-step process. The user needs:

  • to register signs of images in the network;
  • enter a textual JSON collection expansion phrase;
  • enter a compiler for it in the form of JavaScript;
  • release assets.

The developers noted that the process is simple: you only need to write a text line instead of a full image. This allows you to display the final image on all Ordinals interfaces using only online resources. The solution was made possible by the concept of recursive labels.

“Unlike other recursive SVG-collections, these images can be dragged, deleted and saved as typical graphic Ordinals,” added the authors of the standard.

BRC-69 also opens the door for additional features and improvements to the Bitcoin NFT creation process, they say. The Luminex team expects to test the standard with upcoming launches on their platform.

Recall that in June, an analogue of the Ordinals protocol called Ethscriptions appeared in the Ethereum ecosystem. In the first week alone, the volume of trading in digital artifacts on it exceeded $1 million.

Found a mistake in the text? Select it and press CTRL+ENTER

ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!

.

Leave a Reply