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BTC Stamps: A New channel for Bitcoin NFT

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A new Bitcoin NFT implementation called the BTC Stamp has been created

原文标题：《浅析 BTC Stamps：比特币 NFT 的新风口》

Source: ODAILY Planet

There's a new wind blowing in the world of bitcoin NFT.

A new implementation of Bitcoin NFT's called BTC Stamps has been created, and in its first 20 days far more NFT's have been minted than the more familiar ones. Ordinals when they started. (About Ordinals, please refer to theNFT players must read: Swastika hero interpretation Bitcoin Ordinals")

浅析 BTC Stamps：比特币 NFT 的新风口

Source: Bitcoin Frontier Fund Partner trevor.btc

BTC Stamps was created by anonymous developer Mike In Space! According to his Github submission,The implementation mechanism of BTC Stamps is base 64-format image data is embedded in the transaction output of the Bitcoin chain, thereby permanently storing the corresponding picture data on the Bitcoin chain.

Specifically, the user needs to first encode the binary content of the image as base 64 format string (image base 64 encoding means that you can encode a piece of picture data into a string, and then use the string instead of the image address), and prefix the string with "Stamps:", and then use The Counterparty protocol broadcasts the entire text to the Bitcoin chain, where it is sliced and numbered so that upper-layer apps can decode it backwards into the original image.

There's a concept involved here.Counterparty protocol. Counterparty The protocol has been around since 2014, when it was used by so-called Rare Pepes, now considered the forerunners of NFT (the term didn't even exist at the time),The feature is that data can be written into the blank space of a Bitcoin block, thus embedding the data into a native Bitcoin transaction.

It's worth mentioning that 99% of them. Counterparty transactions are generally adopted. OP_RETURN However, the embedded data based on this method can be "deleted" by the full node of Bitcoin, so it is not suitable for the NFT direction that emphasizes permanent preservation. But in nbsp; In the case of BTC Stamps, because of the uniform length of the base 64 string, the corresponding Counterparty transactions default to P 2 SH type, which requires the data to be split and embedded in the output of multiple transactions (the larger the content, the more output to be created), and cannot be "deleted" by the full node of Bitcoin, thus realizing the permanent preservation of picture data.

As for BTC Stamps There are two things that need to be noted about the C-terminal experience.

First, from the point of view of the cost of linking data,Mike In Space! In the Github library, users are advised to select "24 x 24 pixels, 8-color dark PNG or GIF", which is the native resolution of the header project CryptoPunks.

The other is all of them. These Stamps will all be numbered based on the transaction timestamp (so perhaps the most important thing is not the content of the picture, but the number)., the numbering starts at 0 and continues indefinitely, but has an invalid or unrecognizable base embedded; 64 string transactions will not be recognized.

Stampchain Data shows that as of April 6, Beijing time 1: 30 There have been 8,220 of them. BTC Stamps are minted and most of these stamps are used directly. The original drawing of CryptoPunks.

浅析 BTC Stamps：比特币 NFT 的新风口

Taken together, BTC Stamps offers a new form of implementation for all players interested in Bitcoin NFT, which is similar to There are some obvious differences with Ordinals.

According to an analysis by Trust Machines, the Bitcoin eco-development team, BTC Stamps compared to Ordinals' biggest advantage is that,Its data retention is based on the simplest transaction output, so Bitcoin nodes "have no choice", can only choose to save. BTC Stamps, while OP_RETURN and Ordinals (the scheme used by Ordinals) are subject to full-node "pruning".

浅析 BTC Stamps：比特币 NFT 的新风口

However, BTC Stamps are compared to Ordinals also has a distinct disadvantage.The main point. BTC Stamps The expense cost is higher than that of Ordinals higherThis also leads to BTC Stamps only limit the size of the original image in order to limit the cost; In addition, Ordinals supports other file types besides images, such as text, audio, video, and even applications, as long as the size does not exceed the 4 MB block limit. BTC Stamps can't do that for a while.

It's still very early days in the development of Bitcoin NFT. BTC Stamps Ordinals is not yet mature yet, but whether the two will be able to distinguish one from the other, or whether they will go in different directions based on different characteristics, will be the key to the future development of Bitcoin NFT. Odaily Planet will continue to follow the development of this subdivision.