Guellord MbusaTo better dissect the subject of the BRC-69 standard, it is essential to recall the nature of the BRC-20. As a brief reminder, BRC-20 entered the cryptocurrency market in March 2023. Since its advent, Bitcoin Ordinals have become the center of attention, a blockchain garden where intrigues and problems germinate. The Ordinals protocol has achieved relative success due to the fact that it offers the possibility of creating Bitcoin NFTs despite numerous criticisms.
However, like the aftermath of a drunken party, it left behind exorbitant network charges and digital congestion that would defy rush hour on the motorway.
This is where the BRC-69 standard comes into play, a rockstar of the Bitcoin NFT revolution. He claims to be the cure for the ills of the past, a healer of networks and block space. But, before deciding whether this new darling is worthy of the hype surrounding it, let's delve into the depths of the BRC-69.
What do we mean by the BRC-69 standard?
The BRC-69 standard is a major innovation implemented by the Bitcoin Ordinals launch platform, luminex. It was specifically designed to significantly simplify the creation of recursive Ordinals collections. By taking this innovative approach, Luminex aims to not only streamline listing costs, but also optimize the entire on-chain reveal process. Thanks to the BRC-69 standard, users benefit from a more efficient and economical method of integrating their ordinals into the Bitcoin network. It thus opens the way to a more widespread use of this revolutionary technology.
Simply put, the BRC-69 rule is a method of embedding information on small pieces of bitcoin called Satoshi. Created by Luminex Launchpad, the BRC-69 uses a trick called recursive inscriptions to save space in blocks by up to 90%. It's as if the BRC-69 was saying to the blockchain : “Don’t waste your precious space, I’ll show you how to juggle those bits in an elegant way.”
This is the whole point of the BRC-69 standard: Avoiding congestion on the Bitcoin network.
But how does it all work?
The BRC-69 allows data to be written on satoshis, these small fractions of Bitcoin which can contain digital treasures such as images, text, etc. However, rather than drowning the blockchain under a deluge of data, the BRC-69 standard inscribes a single line which, like a spell, can reveal a complete ordinal.
This process takes place in four well-orchestrated stages. First, the basic features of the ordinal are written on the token. Then, the creator deploys a reference source that describes all the attributes of the ordinal collections. A compiler operation comes into play to create a JavaScript program that can highlight assets. Finally, the operation uses HTML inscriptions to generate the entire ordinal.
What effects does BRC-69 have on the Bitcoin blockchain?
As we pointed out above, the BRC-69 standard uses a clever trick called “recursion” to optimize space usage. As such, Bitcoin Ordinals are not forced to store huge amounts of identical data individually. Instead, all information in a collection of ordinals is stored once, allowing each ordinal to reference it as needed.
This intelligent mechanism reduces data redundancy. When an ordinal is transmitted, the Bitcoin network only has to process the single reference line instead of handling a massive set of separate digital assets.
To give you a picture, if the Bitcoin blockchain is a giant library, the BRC-69 is the librarian who arranges books in a way that frees up space and makes searching easier. That is to say, rather than storing each (ordinal) book individually, it creates a common reference, a sort of library card, so that each book can be found without cluttering the shelf.
But the BRC-69 is not only a space wizard, it is also an imaging automaton. It simplifies the image rendering process on an ordinal browser by automating it. No more unnecessary steps, make way for efficiency! . Creators can now host on-chain reveals, like a Netflix series, making Bitcoin NFTs more exciting than the latest episode of their favorite show.
The small price to pay
Certainly, the BRC-69 simplifies everything for creators and users. However, don't let the BRC-69's digital fireworks dazzle you. Like any star, he has his share of whims. It may save space, but congestion persists. When the chain is flooded with transactions, Bitcoin miners are struggling to keep up. Users could still end up paying more to validate their transactions or waiting longer than a rainy weekend in November.
In short, the BRC-69 is a magic wand in the world of Bitcoin NFTs, saving space and bringing a touch of automation. But, like any show, it has its moments of brilliance and clarity, but also moments where the curtain falls and the challenges persist. It remains to be seen whether BRC-69 will be the hero of this cryptographic coin.
This is clearly something to follow in this continuing and enchanting adventure of Bitcoin Ordinals.
What are the advantages and disadvantages of BRC-69
The BRC-69 has significant advantages, however, it comes with some potential disadvantages.
Space optimization
Space saving is one of the strong points of the BRC-69. Thanks to data recycling, this standard frees up a significant portion of digital space. The ordinals generated with the BRC-69 are significantly more compact, thus generating significant savings for users. Since Bitcoin network fees depend on the byte size of the transaction, more modest ordinals translate to lower costs. Thus, users can conduct Bitcoin NFT transactions without being burdened by prohibitive fees.
The space saving favored by the Bitcoin BRC-69 standard also allows more elaborate ordinals. Previously limited to 4 megabytes due to the constraints of Bitcoin block spaces, ordinals from BRC-69 can reach much larger dimensions. Although containing only a single line of text, these ordinals can incorporate a substantial amount of information, allowing the creation of more detailed images, larger texts, and more complex videos.
Process Automation
In addition to its space-saving and storage benefits, the BRC-69 offers innovative features that have the potential to transform ordinal dynamics. This token standard allows creators to automate the automation process. When designing collections of recursive inscriptions, users can determine precisely when and how the informative line of text reveals the entire media of the ordinal.
Creators have the ability to schedule collections of ordinals to be revealed during big events, or configure their ordinals for full automation based on specific conditions. This feature helps make Bitcoin NFTs more engaging and interactive.
What is the disadvantage of the BRC-69 standard?
BRC-69 creates “On-chain congestion”?
Despite the benefits of BRC-69 in terms of saving space and facilitating Bitcoin transactions, it does not entirely solve the problem of on-chain congestion. During periods of high on-chain activity, Bitcoin miners may experience difficulty validating transactions. Users could thus find themselves having to pay additional fees to speed up validation, or waiting an extended time for transactions to be finalized.
In conclusion, although BRC-69 presents undeniable advantages, its widespread adoption could eventually lead to so-called congestion problems, reminiscent of the challenges encountered by previous versions of ordinals with the growth of the popularity of Bitcoin. Although this situation has not yet materialized, it remains possible that BRC-69 could face similar difficulties, overloading Bitcoin block spaces.
What is the difference between the BRC-69 standard and the BRC-20 standard?
BRC-69 and BRC-20, the stars of Bitcoin tokens, dance together on the blockchain stage, like a virtual dancing duo. So they work similarly and have similar results. Their common mission: to allow users to write data on satoshis, thus creating NFTs that directly flirt with the Bitcoin blockchain. The small nuance is that the BRC-20 reveals all the details on the appearance and operation of the resulting ordinal. On the other hand, the BRC-69 prefers to keep it a mystery. It secretly stores all the details of the NFT elsewhere and simply inscribes the satoshi with the recovery information.
But what makes BRC-69 so appealing is its efficiency and speed. Ordinals optimize block space by 90% compared to BRC-20. And that’s not all! Unlike BRC-20 tokens, BRC-69 gives you the power to choose when it reveals itself. It’s like saying, “I’m going to show you something special, but only when I decide to.”
Conclusion
The BRC-69 standard could become the undisputed star of Bitcoin ordinals. In any case, all the signs seem promising. Since its arrival on the scene, the Bitcoin network has been in turmoil, juggling smaller NFTs that nevertheless contain more information. Users love the idea of saving space and trading NFTs without having to break the bank on fees.
So if you're an NFT aficionado, get ready to see more BRC-69 tokens light up the virtual dance floor. Soon, they could well become the undisputed stars of this crypto ball, making Bitcoin NFTs even more popular than a dance nugget at a glamorous evening. It's a new era for tokens, where the dance of data meets space efficiency, and the BRC-69 seems to be the dancer that really knows how to turn heads.
