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A brief history of BTC Layer1 new protocol, explained in one article.

Read this article in 5 Minutes

What is the relationship between various new protocols such as Ordinals, BRC-20, Atomicals, and Pipe that exist at different levels?

Original Title: "A Brief History of BTC L1 New Protocol that Even 60-Year-Old Grandmothers Can Understand"

Original Source: SeaTalk Podcast

Have you recently been confused by the emergence of various new protocols such as Ordinals, BRC-20, Atomicals, and Pipe? Are you unsure of their relationships with each other?

Let me help you sort out the timeline and the implied lines between them. I will try to use simple language without complex concepts to help newcomers and even elderly people understand. This article does not constitute investment advice (NFA).

Chapter I: Ordinals and BRC-20, Casey and domo's world of joy

The Pandora's Box of Bitcoin was opened by a man named Casey Rodarmor (@rodarmor).

In December 2022, Casey launched the Ordinals protocol. It assigns a unique sequence number to each Satoshi and tracks them in transactions. Anyone can attach additional data, such as text, images, and videos, through Ordinals, which is determined by the permissionless nature of blockchain/Bitcoin.

In the early days, Ordinals were not as popular as they are today. Players mainly created NFTs on it, and the trading volume was not large. Founder Casey's initial positioning for it was to allow people to store some eternal and unchanging things on the oldest and most consensus-strong chain, Bitcoin. So for a period of time, many people equated Ordinals with "Bitcoin NFTs".

Things changed on March 8th, 2023 when an anonymous developer named @domodata launched BRC-20 based on the Ordinals protocol. The name may remind you of the ERC-20 token standard on Ethereum, and yes, you can think of BRC-20 as a copycat coin issuance protocol based on Ordinals (which is based on Bitcoin).

Issuing a counterfeit currency on BTC? Most people's first reaction is magical and backward. When the first token $Ordi was issued, there were no proxy tools like Unisat yet, and it was necessary to run a Bitcoin full node locally. Technical developers like @shep_eth seized the opportunity and obtained chips at very low cost.

https://twitter.com/theNextDAO/status/1655508113225834497

With the two rounds of BRC-20's explosive outburst in May-June and October-November, BRC-20 transactions accounted for a large proportion of the Ordinals protocol, which made Casey very unhappy. He publicly stated that BRC-20 brought him a lot of garbage to Ordinals. So a few days ago, we saw Casey's team publicly send a letter to Binance, asking them to remove "Ordinals" from the introduction of the $Ordi token. He doesn't want Ordinals to be associated with $Ordi.

Conclusion 1: Casey himself does not have any coins in the matter of sending $Ordi. Domo himself seems to have sent 1000 (one sheet), but it is unknown whether there are other wallet insider trading. As $Ordi rises more and more fiercely, what the two people are thinking inside is also unknown.

Gossip 1: During the September conference in Singapore, a busybody arranged for Casey and Domo to attend the same event. It is said that the two met and greeted each other amicably. However, if you look at their tweets, you will find that their level of involvement in the project is completely different.

Gossip 2: Why does Domo wear a mask in public during conferences in Singapore? Does anyone know the reason?